New York Assembly seeks to ban Bitcoin mining over environmental concerns
The NY state assembly needs to approve any bill or propose amendments before it can be signed into law by Governor Andrew Cuomo.
Under the titles A. 7389C / S. 6486C, the bill was proposed in the context of the Climate Leadership and Community Protection Act which requires that “statewide greenhouse gas emissions are reduced by 85% by 2050 and that the state has net zero emissions in all sectors of the economy by that time.”
According to a Connecticut-based National Public Radio affiliate, the International Brotherhood of Electrical Workers labor union spoke out against the anti-mining legislation, saying it was unfair to its members. Some in favor of the bill’s passage have cited environmental concerns, given the large energy demands for mining crypto — miners currently need a permit from New York state environmental regulators to operate.
Until next time.....
Written By- Shriyansh Jain