New York lawmakers passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon energy.
Assembly Bill A7389C has been passed by the New York Assembly and by the Senate, and the bill will soon be delivered to the Democratic New York governor Kathy Hochul. If Hochul signs the bill, the moratorium on specific types of cryptocurrency mining operations will begin. A
published by CNBC’s MacKenzie Sigalos explains members of the crypto industry believe the policy could have ripple effects across the country. Galaxy Digital’s Amanda Fabiano said:Greenidge Generation Holdings Inc. sent a statement to Bitcoin.com News and noted that the bill will not interrupt the operations the company runs in New York.
Speaking with CNBC’s Sigalos, the founder and president of the Chamber of Digital Commerce, Perianne Boring told the reporter that the moratorium is a setback. “This is a significant setback for the state and will stifle its future as a leader in technology and global financial services,” Boring detailed.
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