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NY Crypto Moratorium Would Provoke Miner Exodus

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By John Cahill (July 29, 2022, 5:37 PM EDT) — New York is poised to change into the primary state to ban blockchain know-how infrastructure. A New York Senate invoice, S.B. 6486D, would place a two-year pause on new crypto mining operations that run proof-of-work authentication strategies to validate blockchain transactions.

Miners inside the state would even be prohibited from acquiring new or renewed permits.

Except for the moratorium, the invoice requires a full generic environmental impression assertion of crypto mining operations to be accomplished inside one 12 months of its passage.[1]

The stress from opponents of bitcoin mining will nearly actually result in an exodus of crypto mining operators in New York. The value…

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