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New York Mayor Opposes Moratorium on Crypto Mining

ByLouis Adams

Jun 15, 2022 #mining
Reading time: < 1 minute

New York Mayor Eric Adams plans to ask governor Kathy Hochul to veto a bill to moratorium on crypto mining.

Adams believes the moratorium will harm the state’s economy. According to him, authorities should not create obstacles for miners that can contribute to the development of the region.

The Lower House of the New York State Legislature supported in April a bill establishing a two-year moratorium on the issuance of new permits for crypto mining using electricity generated from hydrocarbon sources.

In June, the state Senate approved the proposal. The document will come into force after being signed by the governor.