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New York Governor Kathy Hochul has approved legislation that places a moratorium on PoW mining in the state. The legislation places a two-year suspension on the issuance of new licenses for proof-of-work mining enterprises that depend on carbon-based energy to operate. https://twitter.com/annakelles/status/1595214167073607680
Hochul Signs Moratorium On PoW Mining
According to the reports, the law was already adopted by the New York Senate in June. However, Kathy is yet to sign it because of ferocious business lobbying. In a statement on Nov. 22, Hochul said she would ensure that New York remains the epicenter of financialization while simultaneously taking significant efforts to prioritize the preservation of the environment.
Rejection of Proposal of Crypto Mining
In June last year, the Assembly rejected an earlier draft of the cryptocurrency mining law that demanded a three-year prohibition on a wider range of mining facilities. Republican Assemblyman Robert Smullen, one of the moratorium's supporters, called the present version "anti-tech."