{"id":25211,"date":"2022-04-27T02:09:23","date_gmt":"2022-04-27T06:09:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=25211"},"modified":"2022-04-27T02:09:33","modified_gmt":"2022-04-27T06:09:33","slug":"new-york-state-assembly-passes-a-ban-bill-on-bitcoin-mines-using-carbon-fuel","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/new-york-state-assembly-passes-a-ban-bill-on-bitcoin-mines-using-carbon-fuel\/","title":{"rendered":"New York State Assembly Passes A Ban Bill On Bitcoin Mines Using Carbon Fuel"},"content":{"rendered":"\n
The new Bitcoin mining<\/a> bill will now be sent to the Senate for consideration before being signed into law by Governor Hochul.<\/h5>\n\n\n\n
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Bitcoin mining<\/figcaption><\/figure>\n\n\n\n

The New York State Assembly passed a bill late Tuesday, April 26, that would impose a two-year ban on all new proof-of-work (PoW<\/a>) cryptocurrency mining facilities in the state that use a carbon-based fuel to power their operations.<\/p>\n\n\n\n

The bill\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> proposed by Anna Kelles would not only impose a two-year moratorium on the approval of new Bitcoin mines, but it would also prevent the renewal of permits issued to existing PoW cryptocurrency miners using carbon-sourced energy from increasing the amount of electricity consumed.<\/p>\n\n\n\n
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The bill received the necessary support to pass, with 95 in favor and 52 opposed, and will now be carried by Senator Kevin Parker for a vote in the Senate. If passed, the bill will be sent to Governor Kathy Hochul, who will have the option of vetoing it or signing it into law.<\/p>\n\n\n\n

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Current status of Bill A7389C as of April 27<\/em><\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

The bill would charge the Department of Environmental Conservation (DEC) with preparing a “generic environmental impact statement” to count, locate, and assess the energy consumption and greenhouse gas emissions of PoW miners, as well as their impact on public health.<\/p>\n\n\n\n

The Blockchain Association, a cryptocurrency industry advocacy group, had previously called on “pro-tech, pro-innovation, pro-crypto” New York residents to oppose the bill, which they claim<\/use><\/svg><\/span><\/a> resulted in thousands of messages to legislators.<\/p>\n\n\n\n

According to the association, the bill was debated for three hours, demonstrating “greater opposition to the mining ban than proponents believed.” In a tweet today, the team stated that it will focus its efforts in the New York Senate to defeat what it refers to as the “anti-technology bill.”<\/p>\n\n\n\n

Proposed bans on proof-of-work cryptocurrencies are becoming more common for environmental reasons. In late March, the European Parliament narrowly defeated a similar proposal known as the Markets in Crypto Assets (MiCA<\/a>) bill, with legislators even considering a ban on Bitcoin trading to enforce the proposed ban on mining.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new Bitcoin mining bill will now be sent to the Senate for consideration before being signed into law by Governor Hochul. The New York State Assembly passed a bill late Tuesday, April 26, that would impose a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon-based […]<\/p>\n","protected":false},"author":33,"featured_media":25212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,754,7836,9252],"class_list":["post-25211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-mining-ban","tag-new-york-state"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/crypto-1-1.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=25211"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/25212"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=25211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=25211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=25211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}