Crypto Industry Reacts To New York's 2-Year Crypto Mining Ban

New York Governor Kathy Hochul signed the most controversial law on regulating cryptocurrency mining. The law imposed a two-year moratorium on new permits for proof-of-work (PoW) crypto-mining companies powered by fossil fuels. The crypto community lobbied strongly against the bill banning PoW crypto mining in New York and several crypto influencers and legislators disagreed that the move will reduce carbon emissions.