• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

New York Bitcoin Mining Ban Proposed Amendment, Paving the Way for Green Projects

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

New York senators have revised a proposal to ban all cryptocurrency mining for 3 years and are now looking to stop only miners backed by carbon-based fuel sources.

Related articles

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

May 20, 2024
Avalanche (AVAX) price is among the few altcoins that have dropped sharply

Avalanche (AVAX) price tag is amid the couple of altcoins that have dropped sharply – Bitcoin News 2024

April 16, 2024

On May 5, New York proposed a bill to ban cryptocurrency mining for 3 years due to concerns about environmental pollution, but currently the bill under consideration is partially scrapped to pave the way for projects. green mining.

The original New York Senate bill 6486A sought to halt all cryptocurrency mining for three years in order to conduct an environmental impact assessment of mining operations in the region. However, the bill, which has been amended in the Senate, now focuses only on any company that uses a carbon-based fuel source to power mining.

The bill passed in the Senate on June 8 and has now been moved to Congress. If the bill passes Congress, it will go to Governor Andrew Cuomo to either approve or veto the proposal.

#NYSenate Bill S6486B, sponsored by @SenatorParker, passed (36-27, unofficial). Establishes a moratorium on constituency operations that use proof-of-work authentication methods to validate blockchain transactions:https://t.co/P2gDKdPnL5

— New York State Senate (@NYSenate) June 8, 2021

The revised bill also requires documentation regarding energy output, carbon emissions, and the type of fuel used by all cryptocurrency miners. New York Governor Andrew Cuomo announced on June 7 that he was not familiar with the proposed ban, however, he was aware of environmental concerns surrounding mining.

There are serious environmental concerns in cryptocurrency mining. There’s no doubt about that. And I will consider the law to regulate.

An ongoing issue that concerns some New Yorkers is the approved expansion of Greenidge’s gas-powered Bitcoin plant on Lake Seneca. The plan is to dedicate 85 megawatts (MW) of electricity to Bitcoin mining by 2022.

New York lawmakers’ examination of cryptocurrency mining appears to be linked to the state’s sustainable energy goals, which aim to reduce greenhouse gas emissions by 85% by 2050 and zero net emissions from all sectors of the economy in the above time frame.

Synthetic

Maybe you are interested:

Join the chat group Coinlive Chats Now let’s discuss hot issues of DeFi market with Coinlive admins!!!



[ad_2]

Tags: AmendmentBanBitcoinGreenMiningPavingprojectsProposedYork
Share76Tweet47

Related Posts

The GENIUS Act Alters U.S. Stablecoin Regulations

by shark
May 11, 2025
0

The GENIUS Act is poised to redefine the landscape of stablecoin regulation in the United States, with significant implications for...

Lido Unveils Dual Governance for stETH Holders

by shark
May 11, 2025
0

Lido Finance proposes a dual governance model to enhance decentralization and engagement in the community by empowering stETH holders with...

Ex-Celsius CEO Sentenced to 12 Years for Fraud

by shark
May 11, 2025
0

Former Celsius CEO Alex Mashinsky receives 12-year sentence for crypto fraud, impacting Celsius Network's assets.

Trump Leads New Trade Talks with Japan

by shark
May 11, 2025
0

Former President Trump spearheads trade negotiations with Japan, reports significant progress.

Coinbase Avoids Bitcoin-Dominant Strategy for Financial Stability

by shark
May 10, 2025
0

Coinbase, led by CEO Brian Armstrong, opted against an aggressive Bitcoin strategy for financial stability, impacting industry approaches to crypto...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • $0.000331 Web3 ai Token Could Lead 2025’s Top Crypto Picks
  • AVAX Price Eyes $22, Pepe Slows Down, & Unstaked Offers 27x Gains
  • SUI Price Eyes Golden Cross, XRP Struggles; BDAG Buyer Battles Delivers Big!
  • The GENIUS Act Alters U.S. Stablecoin Regulations
  • Lido Unveils Dual Governance for stETH Holders
  • Ex-Celsius CEO Sentenced to 12 Years for Fraud
  • Trump Leads New Trade Talks with Japan
  • Coinbase Avoids Bitcoin-Dominant Strategy for Financial Stability
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7