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In order to limit the environmental impact caused by Bitcoin mining in the state, the New York State Assembly passed a law yesterday imposing a two-year ban on all new proof-of-work (pow) cryptocurrency mining facilities in its jurisdiction.
The law was passed by New York as part of the Earth Day Package.
State Senator Anna Kelles announced on Twitter that the bill she sponsored will also suspend the extension of permits for existing POW crypto assets that want to increase their electricity 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 has passed the crucial stage of approval of the State Assembly. It is now being put forward by Senator Kevin Parker to win the support of the State Senate. After this stage, the bill will be sent to Governor Kathy Hochul, who will be able to choose whether to sign the bill or veto it.
If the proposal is implemented as law, the proposal will instruct the Department of Environmental Conservation (DEC) to submit a “general environmental Impact Statement” to locate, count and assess the impact of POW miners on greenhouse gas emissions and public health.
The bill was met with strong opposition from the crypto advocacy group Blockchain Association, which called on New Yorkers “pro-tech, pro-innovation, pro-crypto” to write to senators opposing the bill.
After the passage of the bill, the association argued that a three-hour discussion of its impact took place in the House, during which they “put up greater resistance to the mining ban than the supporters believed”. In a tweet, the advocacy group indicated that it would continue to fight against the “anti-technology law”.
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