To limit the environmental impact of bitcoin mining in the state, the New York State Assembly passed legislation yesterday imposing a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in its jurisdiction.
The law was passed as part of New York's Earth Day Package.
State Senator Anna Kelles announced on Twitter that the bill she is sponsoring will also suspend the renewal of permits for existing PoW crypto facilities looking to increase their power consumption.
However, the ban only extends to mining operations that use carbon-based fuel as an energy source in the state.
With 95 votes in favor and 52 against, the bill passed the crucial phase of approval by the State Assembly. It will now be presented by Senator Kevin Parker in an attempt to gain state Senate support. After this stage, the bill is sent to Governor Kathy Hochul, who can choose to sign the law into law or veto it.
If enacted as law, the proposal mandates the Department of Environmental Conservation (DEC) to produce a "General Environmental Impact Statement" to locate, count, and assess the impact of PoW miners on greenhouse gas emissions and public health.
The bill faced staunch opposition from crypto advocacy group Blockchain Association, which urged New Yorkers “pro-tech, pro-innovation, pro-crypto” to write to senators opposing the bill.
After the bill passed, the association argued that the House held a three-hour discussion of its implications, during which they "put up greater opposition to the mining ban than proponents believed." In a tweet, the advocacy group indicated it would continue to fight the "anti-technology law."
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