The pressure to prevent cryptocurrency mining in the US is gaining momentum as the New York environmental agency evaluates the impact of mining on the environment. Following the current trends, the latest New York Bitcoin mining bill receives a lot of attention.
New York To Pause Crypto Mining For Three Years
The New York Senate has recently submitted a bill to pause crypto mining across the state. According to the Senate, crypto mining should be on pause until the feds realize its effect on the environment and climate.
The A7389B is a proposal to pause Proof-of-Work mining for three years. Additionally, the experts should analyze the effect of crypto mining on air quality, water, and greenhouse gas emissions.
The primary motivation behind this kind of bill is the will to stop the crypto industry from preventing the US from achieving its climate goals.
A more significant part of the state assembly would have to vote it in for this bill to become law. Currently, only 45 out of 150 members are supporting the bill, meaning it has a lot more to go before it gets voted.
Banning the PoW mining would affect several cryptocurrencies, including the two biggest ones – Bitcoin and Ethereum.