ALBANY — A proposed two-year moratorium on crypto mining in the Empire State appeared unlikely to gain final approval Thursday as lawmakers finished up the legislative session.
Despite being approved by the Senate last year, the measure stalled in the Democrat-led Senate due to 11th-hour opposition after passing the Assembly earlier in the session.
Opposition to the bill mounted in recent weeks as critics argued that the temporary moratorium would drive tech businesses from the Empire State and send jobs elsewhere.
Sen. Kevin Parker (D-Brooklyn), chairman of the Senate energy committee and the bill’s sponsor, told POLITICO that his chamber’s inaction threatens environmental benchmarks set as part of the Climate Leadership and Community Protection Act.
“The New York state Senate has abdicated its responsibility to address climate change or attempt to meet the goals of the CLCPA,” Parker told the outlet. “The lack of courage on the cryptocurrency moratorium is especially disappointing...
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