The industry warns it will take its business to other states with energy-rich resources, even though the moratorium would probably have little impact on their operations. | Malik Rainey for Politico Magazine
By Marie J. French
06/17/2022 04:50 PM EDT
ALBANY, N.Y. — The cryptocurrency markets are already in a meltdown. Now New York is the on verge of becoming the first state in the nation to partially ban some energy intensive Bitcoin mining operations.
The move would have no immediate effect. But it still puts Gov. Kathy Hochul in the middle of a fight between environmental activists supportive of the measure and crypto enthusiasts who are demanding she veto the bill.
Hochul, a Democrat who is seeking her first full term this year, hasn’t said what she’ll do with the proposal, which passed the state Legislature earlier this month. The measure would pause some permits for the energy intensive process used to earn digital currencies if the facilities are powered by fossil fuel plants...
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...