Due to the harmful impact of bitcoin mining on the environment may be outlawed in New York soon. This week, the state assembly voted in support of the prohibition.
In May of last year, the authorities were presented with this law (Bill S6486D). It states that by 2050, greenhouse gas emissions will be reduced by 85%.
Mining might be prohibited for two years as part of this plan. The authorities will be able to examine the impact of the PoW mining algorithm on the environment thanks to the pause.
The mining restriction can be a major setback for bitcoin mining. Several mining farms relocated to the state’s northern reaches following China’s mining prohibition. Bitcoin mining is more convenient and less expensive due to low temperatures and inexpensive energy sources.
In light of this, the state determined that it would not be able to meet the target for greenhouse gas emissions. The active steps that are being done are linked to this.
It is, nevertheless, too early to be worried. This legislation is unlikely to be approved. To support it, senators from both parties must vote in favor of a mining moratorium and the governor of New York. So let’s see where things go from here.