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New York City Mayor Eric Adams will reportedly ask Governor Kathy Hochul to veto the bill previously passed by the State Senate, as New York’s crypto mining aims to limit environmental impact by limiting emissions of carbon from crypto mining.
In a recent interview with Crain’s AdamsHe said he was against the law and added:
“I will ask the governor to consider vetoing the bill that would bring the cryptocurrency forward. When you look at the billions of dollars spent on cryptocurrency, New York is the leader. We cannot continue to erect barriers ”.
Governor Hochul will veto or sign the bill
to be[In]Crypto As previously reported by the New York State Senate, the New York State Senate approved the Bitcoin Mining Moratorium on June 3, which suspends permits for a two-year period. The proposal is now up to the Governor, who has 10 days to sign or veto the bill. Kathy HochulPending approval.
Adams, known for receiving his two-week salaries in cryptocurrencies, released the following statement, stating that cryptocurrency companies are not derailing New York’s zero-carbon emissions targets;
“Give us a target, not a ban”.
The bill was intended to meet the goals set by the Climate Leadership and Community Protection Act (CLCPA), which aims to eliminate all human-induced climate pollution in New York State.
Adams also made the following statement;
“I also know this about innovation: setting deadlines. Crypto mining in the next five years [firmalara] Say: ‘We have to reduce energy costs’ ”.
However, the state legislator who repealed the law Anna Kelles, It previously said the bill would “restrict” certain types of cryptocurrency mining in the state for two years and would not “ban” the activity. Once again, Adams expressed his disappointment.
Will NY lose its cryptocurrency lead?
If the bill is approved by the Governor, the Department of Public Service will not approve new applications or issue new permits for carbon-based mining facilities in New York for two years.
The United States, in particular, dominates global Bitcoin mining, with 35.4% of the average monthly hash rate share last August. In the United States, 19.9% of Bitcoin’s hash rate is located in New York. According to a CNBC report, after New York, 18.7% are from Kentucky and 14% from Texas.
However, the mayor said that the state “competitive advantage“She worries about losing.
Adams believes cryptocurrency mining should be treated as a tool in the late 20th century and says;
“We have not banned cars because it is unleaded petrol. We told the vehicle manufacturers: “You have to achieve it in five years.” Give us goals. This is the way we act as human beings ”.