On June 3, 2022, the New York State Senate passed the first bill in the country that bans certain cryptocurrency (crypto) mining operations. This bill, passed by the New York State Assembly in April 2022, now goes to Governor Kathy Hochul for her signature. The bill imposes a two-year moratorium on crypto mining operations that “require proof-of-work authentication methods to validate block chain transaction.” The bill would also require the New York State Department of Environmental Conservation to prepare a “generic” environmental impact statement on cryptocurrency mining operations using proof-of-work authentication …
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