Hochul: 'A lot to consider' in crypto mining pause proposal
— Pause, States, State, York, Greenridge, Process, Moratorium, Mining, Proposal, Crypto — 1 min read
Gov. Kathy Hochul has not given an indication over whether she will approve a two-year moratorium on proof-of-work crypto mining. Environmental groups have raised concerns over the massive amount of energy used to generate the virtual coins used in transactions. But crypto firms have argued the bill would put a dent in the state's ability to create jobs and generate investment in a globalized economy. The bill comes amid volatility in the crypto markets worldwide over the last several weeks, which has seen volatility in global markets worldwide in the past several weeks. New York regulators this month denied the renewal of an air permit for Greenridge Generation in the Finger Lakes region of the state. The facility is being used to digitally mine cryptocurrency. The bill is being Source