Bitcoin offices in Istanbul, Turkey, on May 11, 2022.
Umit Turhan Coskun/NurPhoto via Getty Images
New York State Assemblymember Anna Kelles is tired of all the fear-mongering about the bill she wrote — and sponsored — to place a two-year moratorium on certain types of new cryptocurrency mines in the state. The fate of the measure, which passed the state senate in the wee hours of Friday morning, rests in the hands of Governor Kathy Hochul, who could sign it into law or veto it.
“It’s important to understand that it’s not a ban,” Kelles said in a call with CNBC on Friday.
“It’s like a three-page bill. So it would be wonderful to just have people read it, but it often ends up being an interpretation based on emotions.”
The legislation aims to curb the state’s carbon footprint by cracking down on crypto mines that meet very specific criteria.
For one, they need to use the energy-intensive proof-of-work authentication method to validate blockchain transactions. Second, they must draw...
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...