April 23, 2022

Is New York going to ban bitcoin mining?

New York is considering creating a moratorium on proof-of-work mining to vote for the bill.

According to the Bitcoin Advocacy project, if this bill becomes the new law, New York will miss the opportunity to mine bitcoin.

In the past, the Mayor of New York City, Eric Adams, expressed his excitement that he couldn’t wait for the first 3 paychecks in Bitcoin.

However, at present, Adams supports cryptocurrency only — not crypto mining.

The New York Assembly will vote next week on a bill that would ban bitcoin mining.

Bitcoin mining is a big concern for the carbon footprint. It costs more than gold mining.

Is New York going to be the New China?