New York Bitcoin "mining" ban discounted: green projects will be allowed « Naijatechnews

New York Bitcoin “mining” ban discounted: green projects will be allowed

On June 10, according to foreign media reports, New York previously enacted a bill to suspend crypto mining activities for three years, but it has made concessions to allow green project operations.

The bill was passed in the Senate on June 8 and has now been submitted to the state legislature. If passed in Parliament, it will be submitted to Governor Andrew Cuomo, who will approve or reject the proposed legislation.

Initially, the New York Senate Bill No. 6486A attempted to ban all crypto mining operations within three years in order to review the environmental impact of mining operations in the tri-state area, while the revised Bill 6486b now only focuses on any use of carbon-based fuel sources for crypto mining The company; also required to record the energy output, carbon footprint, and fuel type used by all crypto miners.

In addition, the review of crypto mining by New York State legislators seems to be related to its sustainable energy goals. The bill refers to the state’s “Climate and Community Protection Act”, which sets out to reduce greenhouse gas emissions by 2050 85% target.

Reminder : Investment is risky, and you need to be cautious when entering the market. Digital currency investment has greater risks and unpredictability, and this article does not constitute any form of investment encouragement and advice.

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