{"id":437353,"date":"2022-04-25T20:45:00","date_gmt":"2022-04-25T17:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-york-legislators-to-vote-on-pow-mining-moratorium-this-week\/"},"modified":"2022-04-25T20:45:00","modified_gmt":"2022-04-25T17:45:00","slug":"new-york-legislators-to-vote-on-pow-mining-moratorium-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-york-legislators-to-vote-on-pow-mining-moratorium-this-week\/","title":{"rendered":"# New York legislators to vote on PoW mining moratorium this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3364f8b07c7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3364f8b07c7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-york-legislators-to-vote-on-pow-mining-moratorium-this-week\/#%E2%80%9D_New_York_legislators_to_vote_on_PoW_mining_moratorium_this_week_%E2%80%9C\" >&#8221; New York legislators to vote on PoW mining moratorium this week   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_New_York_legislators_to_vote_on_PoW_mining_moratorium_this_week_%E2%80%9C\"><\/span>&#8221; New York legislators to vote on PoW mining moratorium this week   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZTlhZDVlN2YtNTU4OS00NTljLWI3YTktYjliMDdkYzg5YzI4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>New York&#8217;s legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns.\u00a0<\/p>\n<p>Over the past weekend, on Saturday and Sunday, several crypto advocacy groups \u2014 including the Blockchain Association and Crypto Council for Innovation \u2014 rang the alarm over the upcoming vote in the New York Assembly. The state Senate&#8217;s official webpage did not <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nysenate.gov\/legislation\/bills\/2021\/A7389\">indicate<\/a> a specific date for the vote.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ New York\u2019s proposed moratorium on proof-of-work (S6486D\/A7389C) mining has an unintended consequence &#8211; it puts innovation on the back burner. <\/p>\n<p>It would have significant implications for the security of major crypto protocols.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/cOT4njQDqZ\">https:\/\/t.co\/cOT4njQDqZ<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/M7LTuHmV1Z\">https:\/\/t.co\/M7LTuHmV1Z<\/a><\/p>\n<p>\u2014 Crypto Council for Innovation (@crypto_council) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crypto_council\/status\/1518233194809733123?ref_src=twsrc%5Etfw\">April 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> 1\/ The NYS legislature is preparing to ban PoW mining\u2026we\u2019re calling on all pro-tech, pro-innovation, pro-crypto NYS residents to make their voices heard. <\/p>\n<p>Tweet and email your assembly member via the link below <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/N50iLJO3To\">https:\/\/t.co\/N50iLJO3To<\/a><\/p>\n<p>\u2014 Blockchain Association (@BlockchainAssn) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BlockchainAssn\/status\/1517637109368164358?ref_src=twsrc%5Etfw\">April 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe bill, S6486D\/A7389C, seeks to establish a two-year moratorium on cryptocurrency mining that utilizes a proof-of-work (PoW) consensus mechanism. It would amend the existing environmental conservation law to comply with the 2019 Climate Leadership and Community Protection Act, which implies a 40% greenhouse gas emission reduction by 2030. As the co-sponsors of the bill believe, PoW mining stands in the way of reaching this goal. Hence, they propose a moratorium on mining permits issuance and renewal. <\/p>\n<p>The bill offers some important reservations, though. As one clause\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nysenate.gov\/legislation\/bills\/2021\/A7389\">goes<\/a>, \u201cthe department shall not <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rove an application to renew an existing permit [&#8230;] if the renewal application seeks<strong> <\/strong>to increase or will allow or result in an increase<strong> <\/strong>in the amount of electric energy consumed or utilized by a cryptocurrency mining operation.\u201d This could mean that mining businesses&#8217; applications seeking to preserve the existing capacities already licensed by the state would not be subject to new restrictions. <\/p>\n<p>Another important caveat is that both moratorium paragraphs are aimed at the \u201celectric generating facilities\u201d that \u201cutilize a carbon-based fuel,\u201d\u00a0meaning that the proposed legislation would not extend to the operations that use renewable energy in mining. It would, however, cover facilities like Greenidge Generation&#8217;s converted natural gas power plant near Seneca Lake, which has been at the center of court battles\u00a0in recent years. <\/p>\n<p>Crypto industry advocacy groups have called on the \u201cpro-tech, pro-innovation, pro-crypto\u201d residents of the New York state to get active and encourage their assembly members to vote against the moratorium. After the Assembly vote, the bill must pass the state Senate before it gets to the desk of the governor, who has the power to veto it. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-york-legislators-to-vote-on-pow-mining-moratorium-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; New York legislators to vote on PoW mining moratorium this week &#8220; New York&#8217;s legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns.\u00a0 Over the past weekend, on Saturday and Sunday, several crypto advocacy groups \u2014 including the Blockchain Association and Crypto Council for Innovation&#8230;<\/p>\n","protected":false},"author":1,"featured_media":437354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZTlhZDVlN2YtNTU4OS00NTljLWI3YTktYjliMDdkYzg5YzI4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,78717,75042,75578,76308,70752,10595,55229,44483,70934,67874],"class_list":["post-437353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-energy-consumption","tag-mining","tag-proof-of-work","tag-ban","tag-energy","tag-environment","tag-law","tag-new-york-state","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=437353"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/437354"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=437353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=437353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=437353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}