New york state crypto mining law

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Establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions;. The New York Senate passed Bill SD banning cryptocurrency mining in the state when relying on carbon-based energy sources to power their operation.1 Here's. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years.

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Brad Hoylman-Sigal. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. Like banking and Wall Street investment brokerages, regulations can shift and evolve. Hochul, who refrained from acting on the bill for nearly six months, said the practice is inconsistent with the state's environmental- and climate change-related goals. Section 5 requires issuance of a final generic environmental impact statement after close of the public comment and public hearing period no later than one year after the effective date of this act.