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New York State Assembly Passes Two-year Crypto Mining Moratorium Bill
Summary: According to The Block, The New York State Assembly voted to pass a bill that will essentially freeze current levels of crypto mining carbon emissions. It aims to impose a two-year moratorium, specifically preventing new permits from being issued to carbon-based fueled proof-of-work mining operations that use behind-the-meter energy. The bill passed with a vote tally ...
According to The Block, The New York State Assembly voted to pass a bill that will essentially freeze current levels of crypto mining carbon emissions. It aims to impose a two-year moratorium, specifically preventing new permits from being issued to carbon-based fueled proof-of-work mining operations that use behind-the-meter energy.
The bill passed with a vote tally of 95 in favor and 52 against. Democratic Assembly member Anna Kelles, the main sponsor of the bill, said its goal was to ensure that the state meets measures set by New York’s Climate Leadership and Community Protection Act (CLCPA), which was passed in 2019.
The bill also tasks the Department of Environmental Conservation (DEC) with conducting a General Environmental Impact Statement on all crypto mining operations in the state. The study is set to be completed within the span of a year, giving lawmakers time to act on the findings before the moratorium expires.
By Amy Liu
Tags: Bill,Crypto Mining,New York State Assembly
Link: New York State Assembly Passes Two-year Crypto Mining Moratorium Bill [Copy]
