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New York Governor’s Office Signs a Moratorium on Crypto Mining


New York Governor’s Office signs a moratorium on crypto mining. New York Governor Kathy Hochul has approved legislation that would force a moratorium on POW mining in the state. The law imposes a two-year suspension on the issuance of new licenses for mining companies that appear to rely on carbon-based energy to operate.

Hochul signed a moratorium on PoW mining

According to reports, the New York Senate already passed the law in June. However, Kathy hasn’t signed up due to corporate pressure. In a statement November 22, Hochul said that he will ensure that New York remains the primary center of finance while at the same time making great efforts to bring environmental protection.

Crypto Mining Policy Question

In June last year, the Assembly rejected a previous cryptocurrency mining bill that required a three-year ban on a wider range of mining equipment. Republican Senator Robert Smullen, one of the supporters of the moratorium, called the current version “technical prohibition”.

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