New York State Senate passes Bitcoin mining moratorium
The New York State Senate passed a bill targeting proof-of-work (PoW) mining early Friday morning in an effort to address some of the environmental concerns about cryptocurrencies.
The bill, which was passed by the state Assembly last month, would impose a two-year moratorium on new PoW mining projects powered by carbon-based fuel in the Empire State, though existing mining firms or ones currently undergoing the permit renewal process would be allowed to continue operations.