NEW YORK (TNS) — Gov. Kathy Hochul is wary of a recently passed bill that would temporarily halt new large-scale cryptocurrency mining operations in the Empire State.
“We will get to it,” the governor said. “I have to focus on some other issues at the moment.”
The New York Daily News reported the bill, if signed into law, would place a two-year moratorium on cryptocurrency mining operations at fossil fuel-burning power plants that use so-called proof-of-work authentication methods to validate blockchain transactions.
The method, which requires vast amounts of energy as computers solve highly complex mathematical equations to authenticate a transaction, is used to create cryptocurrencies like Bitcoin.
New York City Mayor Eric Adams and other crypto fans have called on Hochul to veto the measure.
The governor said she is still weighing her options and shot down the idea that her decision will be influenced by large contributions made to her campaign by crypto companies or lobbyists.
“...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...