New York Senate Passes Bitcoin, Ethereum Mining Ban Bill
Although the purpose of the bill is to prevent environmental damage from PoW mining, the ban hasn’t severely impacted currently existing mining operations.
New York State Senate approved the crypto mining moratorium bill today.
Proof of Work mining has been at many governments’ targets, including the European Union
BTC and ETH, on the other hand, continue to move sideways in a consolidated market
The bill, which establishes a moratorium on cryptocurrency mining operations that use the proof-of-work (PoW) consensus method
is said to have a significant impact primarily on the two biggest cryptocurrencies that run on PoW.
Although Ethereum is soon going to transform into Proof of Stake, the implications of the law will come in before ‘The Merge’.
within the United States, states like Georgia are executing opposite strategies as the state has embraced crypto mining in all its forms.
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