NY's Governor noted that she would dedicate a significant amount of time in the upcoming months in order to investigate the bill more thoroughly.
Kathy Hochul, New York’s Governor, hasn’t yet announced whether she would overturn the bill to ban Proof-of-Work (PoW) crypto mining in the city. However, on June 7, Hotchul promised that the decision won't be rushed and that the government will “be looking at all the bills very, very closely. We have a lot of work to do over the next six months.”
Actually, the news comes after the New York State Senate approved the bill to ban crypto mining on June 3, meaning that the final decision lies in NY Governor Hochul's hands.
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The bill seeks to forbid crypto miners to operate any mining-related operations in NY for the next two years due to the huge amount of energy that it demands. On top of that, the government stated that it wouldn’t extend licenses for current miners.
Back on June 6, the community responded to such a proposal and suggested that “no government has the right to tell you what software to run.” The Executive Vice President and Head of Policy at Blockchain Association Jake Chervinsky also implied that the bill to ban crypto mining won’t contribute to lowering carbon emissions.
Moreover, during a debate on June 8, Hochul noted that she agrees with the fact that the government should work on minimizing the environmental effect of fossil fuel mining operations. One of Times Unions reporters, Josh Solomon, participated in the event and shared some insights:
“Hochul now suggests her team hasn’t had time to review the bill for crypto proof of work moratorium of new licenses and supports the concept of preventing fossil fuel plants from doing any harm to the environment.”
In addition, in May, Hochul underlined the fact that the government should focus on providing more job positions for experienced professionals and put more emphasis on protecting the environment. She continued:
“We have to balance the protection of the environment, but also protect the opportunity for jobs that go to areas that don’t see a lot of activity and make sure that the energy that’s consumed by these entities is managed properly.”
On the contrary, Russia’s Deputy Minister of Energy Evgeny Grabchak has earlier stated that the country would be seeking to legalize crypto mining so that energy surpluses are being used purposefully.
In other news, earlier this year, a small town in Santa Fe dubbed Serodino announced that it would fight its declining economy with crypto mining.
