{"id":70474,"date":"2022-11-23T11:26:38","date_gmt":"2022-11-23T09:26:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70474"},"modified":"2025-09-08T02:30:05","modified_gmt":"2025-09-07T23:30:05","slug":"new-york-imposes-a-two-year-moratorium-on-mining","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/new-york-imposes-a-two-year-moratorium-on-mining\/","title":{"rendered":"New York imposes a two-year moratorium on mining"},"content":{"rendered":"<p>On November 22, New York Governor Kathy Hochul signed a bill imposing a moratorium on cryptocurrency mining that uses electricity generated from carbon-based sources.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We did it!!! Thank you to <a href=\"https:\/\/twitter.com\/GovKathyHochul?ref_src=twsrc%5Etfw\">@GovKathyHochul<\/a> for signing the crypto moratorium into law! This is a huge win for our planet and a sign that New York is not afraid to lead the nation in our climate policy. Thank you to everyone who fought with me \ud83e\uddf5 <a href=\"https:\/\/t.co\/a2t3LPzB7P\">pic.twitter.com\/a2t3LPzB7P<\/a><\/p>\n<p>\u2014 Anna R. Kelles (@annakelles) <a href=\"https:\/\/twitter.com\/annakelles\/status\/1595214167073607680?ref_src=twsrc%5Etfw\">November 23, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I will ensure that New York remains a centre of financial innovation, and I will take important steps to prioritise protecting our environment,&#8221; Hochul said.<\/p>\n<\/blockquote>\n<p>A screenshot of her decision was published by New York Assembly member Anna Kelles, who introduced the bill. She called this move &#8216;a huge victory for the planet&#8217;.<\/p>\n<p>The document provides for freezing current levels of carbon emissions from mining. Enterprises operating under such a scheme will not be able to expand operations. During the two-year period, authorities plan to study the potential impact of mining on the environment under the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Work<\/a> (PoW) algorithm.<\/p>\n<p>In February, New York gubernatorial candidate <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-gubernatorial-candidate-calls-for-ban-on-bitcoin-mining\">ban Bitcoin mining<\/a> and other PoW-based cryptocurrencies on PoW.<\/p>\n<p>In April, a group of US congressmen <a href=\"https:\/\/u1f987.com\/en\/news\/us-lawmakers-urge-epa-review-of-proof-of-work-over-environmental-impact\">wrote to the Environmental Protection Agency<\/a> asking to assess the mining industry for environmental risks and compliance with applicable laws. In the same month, the New York Assembly <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-assembly-approves-two-year-moratorium-on-crypto-mining\"> approved two-year restrictions<\/a> on cryptocurrency mining.<\/p>\n<p>Subsequently, the bill <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-state-senate-backs-two-year-mining-moratorium\">was backed<\/a> by state senators, but it <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-mayor-opposes-crypto-mining-moratorium\">was criticised<\/a> by the city\u2019s sitting mayor, Eric Adams.<\/p>\n<p>Industry representatives said that <a href=\"https:\/\/u1f987.com\/en\/news\/industry-participants-call-new-york-mining-moratorium-ineffective\">the moratorium would drive crypto mining firms out of business<\/a> and would do little to achieve the bill&#8217;s stated aims.<\/p>\n<p>Recall that experts at the Cambridge Centre for Alternative Finance found that Bitcoin mining <a href=\"https:\/\/u1f987.com\/en\/news\/study-finds-bitcoin-mining-accounts-for-0-1-of-global-co2-emissions\">produces 0.1% of global CO2 emissions<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 22, New York Governor Kathy Hochul signed a bill imposing a moratorium on cryptocurrency mining powered by energy generated from carbon-based sources.<\/p>\n","protected":false},"author":1,"featured_media":70475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1259,748],"class_list":["post-70474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ecology","tag-new-york"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70474"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70474\/revisions"}],"predecessor-version":[{"id":70476,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70474\/revisions\/70476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70475"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}