The Governor of New York has signed a two-year moratorium on cryptocurrency mining

ChainCatcher news, according to AP News, New York Governor Kathy Hochul signed legislation on Tuesday that takes a nationwide first step to curb the spread of cryptocurrency mining. The new law stipulates that fossil fuel power plants used for energy-intensive "proof of work (PoW)" cryptocurrency mining will have new and renewed air permits suspended for two years.

The law also requires the Department of Environmental Conservation to assess how cryptocurrency mining affects the state's ability to achieve its climate goals. Hochul explained that she will ensure New York continues to be a hub for financial innovation while taking significant steps to prioritize the protection of our environment. (Source link)