The New York mining moratorium still sits on Governor Kathy Hochul’s desk in New York, while NYC mayor Eric Adams has asked her to veto it stating “give us a goal, not bans.”
He now stands with miners against the bill stating, “we can’t continue to put barriers in place” for miners who wish to help bolster the state’s economy with the “billions of dollars that are spent on cryptocurrency” in the state.
“I’m going to ask the governor to consider vetoing the bill that is going to get in the way of cryptocurrency upstate.” Supporters of the bill, such as the original sponsor, Assembleyperson Anne Kelles, are worried that miners who use fossil fuel-burning power plants could set the state behind on its path toward reducing all carbon emissions by 85% by 2050. New York generates more than 50% of its electricity from renewable sources, shutting down older fossil fuel power plants to achieve that goal.
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