{"id":462512,"date":"2022-06-14T08:55:22","date_gmt":"2022-06-14T05:55:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nyc-mayor-eric-adams-speaks-out-against-pow-mining-ban-legislation\/"},"modified":"2022-06-14T08:55:22","modified_gmt":"2022-06-14T05:55:22","slug":"nyc-mayor-eric-adams-speaks-out-against-pow-mining-ban-legislation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nyc-mayor-eric-adams-speaks-out-against-pow-mining-ban-legislation\/","title":{"rendered":"# NYC Mayor Eric Adams speaks out against PoW mining ban legislation"},"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-6a3bf2ae79388\" 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-6a3bf2ae79388\" 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\/nyc-mayor-eric-adams-speaks-out-against-pow-mining-ban-legislation\/#%E2%80%9D_NYC_Mayor_Eric_Adams_speaks_out_against_PoW_mining_ban_legislation_%E2%80%9C\" >&#8221; NYC Mayor Eric Adams speaks out against PoW mining ban legislation &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_NYC_Mayor_Eric_Adams_speaks_out_against_PoW_mining_ban_legislation_%E2%80%9C\"><\/span>&#8221; NYC Mayor Eric Adams speaks out against PoW mining ban legislation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOWQxNzJkZWQtYWVkYy00ZWJiLWEwZDctYWYxMDhiNTY3ZmQ3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>New York City\u2019s Mayor Eric Adams spoke out on Monday, June 13, against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years.<\/p>\n<p>The bill is designed to place a two-year moratorium on Proof of Work (PoW) crypto miners who do not use 100% renewable energy. At the same time, New York state\u2019s environmental agency is investigating the effects of mining on the environment. The bill passed on June 3 in the State Assembly and now awaits Governor Kathy Hochul\u2019s signature to become a law.<\/p>\n<p>Mayor Adams told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.crainsnewyork.com\/politics\/eric-adams-plans-ask-kathy-hochul-veto-albany-cryptomining-bill\">Crain\u2019s<\/a>\u00a0on Monday that he intends to request Governor Hochul veto the bill due to the economic damage it will cause the state&#8217;s people. Mayor Adams has been a frequent proponent of the crypto industry, previously accepting BTC instead of cash for his salary payments.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> SCOOP  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CrainsNewYork?ref_src=twsrc%5Etfw\">@CrainsNewYork<\/a> I sat down with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NYCMayor?ref_src=twsrc%5Etfw\">@NYCMayor<\/a> Eric Adams today and learned he\u2019s going to ask <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GovKathyHochul?ref_src=twsrc%5Etfw\">@GovKathyHochul<\/a> to veto the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/cryptocurrecy?src=hash&amp;ref_src=twsrc%5Etfw\">#cryptocurrecy<\/a> crypto mining bill that places a two year pause on new mining operations. Read it here: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/X0zjbJWJ8J\">https:\/\/t.co\/X0zjbJWJ8J<\/a><\/p>\n<p>\u2014 Brian Pascus (@brianpascus) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/brianpascus\/status\/1536472739913015297?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nHe now stands with miners against the bill stating, \u201cwe can\u2019t continue to put barriers in place\u201d for miners who wish to help bolster the state\u2019s economy with the \u201cbillions of dollars that are spent on cryptocurrency\u201d in the state. <\/p>\n<blockquote><p>\u201cI\u2019m going to ask the governor to consider vetoing the bill that is going to get in the way of cryptocurrency upstate.\u201d <\/p><\/blockquote>\n<p>Supporters of the bill, such as the original sponsor, Assembleyperson Anne Kelles, are worried that miners who use fossil fuel-burning power plants could set the state behind on its path toward reducing all carbon emissions by 85% by 2050. New York generates more than 50% of its electricity from renewable sources, shutting down older fossil fuel power plants to achieve that goal.<\/p>\n<p>Assembleyperson Kelles <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nypost.com\/2022\/06\/13\/adams-urges-hochul-to-veto-fossil-fuel-fed-crypto-mining-moratorium\/\">told<\/a> the New York Post on June 13 that the Mayor\u2019s support of miners was a surprise and said he is essentially asking New York \u201cto go back to the stone age of cryptocurrency.\u201d Mayor Adams had previously spoken out against miners in February, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nypost.com\/2022\/02\/09\/nyc-mayor-eric-adams-says-hes-against-crypto-mining\/\">according<\/a> to the\u00a0 Post.<\/p>\n<p>According to data compiled in December 2021 by the Cambridge Bitcoin Electricity Consumption Index (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ccaf.io\/cbeci\/mining_map\">CBECI<\/a>), New York is the fourth-largest contributor of hash power in the U.S. <\/p>\n<p>Industry insiders <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/03\/heres-whats-in-new-yorks-new-bitcoin-mining-ban-.html\">told<\/a> CNBC on June 3 that New York\u2019s decision to shut down miners could have a domino effect across the industry. However, Cointelegraph reported on June 10 that GEM Mining CEO John Warren believes miners will simply move to friendlier states with better incentives.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Old Bitcoin mining rigs risk &#8216;shutdown&#8217; after BTC price slips under $24K<\/em><\/strong><\/p>\n<p>Worldwide, about 50% of the power Bitcoin miners use is from sustainable sources according to the Bitcoin Mining Council. Miners strive to be less reliant on fossil fuels, which requires innovative technologies. Mayor Adams suggested giving New York-based miners deadlines to reduce their emissions by specific dates. \u201cGive us a goal, not bans,\u201d he said. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/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\/nyc-mayor-eric-adams-speaks-out-against-pow-mining-ban-legislation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; NYC Mayor Eric Adams speaks out against PoW mining ban legislation &#8220; New York City\u2019s Mayor Eric Adams spoke out on Monday, June 13, against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years. The bill is designed to place a two-year moratorium on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOWQxNzJkZWQtYWVkYy00ZWJiLWEwZDctYWYxMDhiNTY3ZmQ3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,75042,44483,70934],"class_list":["post-462512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-mining","tag-new-york-state","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462512","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=462512"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462513"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}