New York State Passes Bills On PoW Mining and Cryptocurrency/Blockchain Task Force
New York State Senate passed the bill to impose a two-year moratorium on new crypto mining firms using carbon-based energy sources. After passing Assembly last month and now the NYS Senate, all that’s left for the bill to become law is for the NYS governor to sign the bill. There is reportedly only one crypto mining plant in operation that wouldn’t be affected by the bill.
Other provisions in the bill ban permit renewals for those seeking to upgrade or expand their mining facility.
The state also just passed a bill through Assembly to “establish a cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.”
The task force will consist of 16 members:
7 members appointed by the governor including the superintendent of the department of financial services, the commissioner of the department of environmental conservation, a representative from the financial services industry, a representative from a state or national organization promoting environmental conservation, and a representative who is a member of an accredited college/university in NYS with experience in economic studies
The comptroller of NYS
4 members appointed by the temporary president of the senate
4 members appointed by the speaker of the assembly
