New York City Mayor Eric Adams to have a chat with Governor Kathy Hochul to oppose the crypto-mining rate adopted on June 3 that could impose a two-year limit on proof of working mining (PoW) in the province, according to Crain’s New York Business.
To address some of the environmental concerns regarding bitcoin, the New York State Senate approved a measure intended to prove mining activity (PoW).
New oil-powered PoW mining projects based on new fuel in the Empire State will be banned for two years under the law, which was approved by the Provincial Council in May. Existing mining businesses, as well as those awaiting renewal of their licences, will be free to continue operating. The bill received 36-27 votes in the Senate.
Mayor Adams opposes Crypto mining bill
He now opposes the law, saying “we cannot continue to raise barriers” to cryptocurrency miners who want to contribute to the country’s economy by investing billions of dollars in digital currency.
Adam stated:
“I’m going to ask the governor to veto the bill that will stymie bitcoin adoption in the state.”
According to State Senator Kevin Parker of Brooklyn, who is a Democratic Alliance supporter of the bill, there is now one operational centre that has never been touched by the law. He also mentioned that one continuous application could be postponed until the study was completed. During the suspension, the state will investigate the potential environmental impact of mining evidence.
Read more: New York governor still not sure on signing Bitcoin mining moratorium: Report
