{"id":516555,"date":"2022-11-27T00:51:26","date_gmt":"2022-11-26T21:51:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-yorks-mayor-seeks-balance-with-regulators-after-pow-mining-moratorium\/"},"modified":"2022-11-27T00:51:26","modified_gmt":"2022-11-26T21:51:26","slug":"new-yorks-mayor-seeks-balance-with-regulators-after-pow-mining-moratorium","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-yorks-mayor-seeks-balance-with-regulators-after-pow-mining-moratorium\/","title":{"rendered":"# New York&#8217;s mayor seeks balance with regulators after PoW mining moratorium"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a25b562e76a3\" 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-6a25b562e76a3\" 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-yorks-mayor-seeks-balance-with-regulators-after-pow-mining-moratorium\/#%E2%80%9D_New_Yorks_mayor_seeks_balance_with_regulators_after_PoW_mining_moratorium_%E2%80%9C\" >&#8221; New York&#8217;s mayor seeks balance with regulators after PoW mining moratorium &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_New_Yorks_mayor_seeks_balance_with_regulators_after_PoW_mining_moratorium_%E2%80%9C\"><\/span>&#8221; New York&#8217;s mayor seeks balance with regulators after PoW mining moratorium &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNjY3ZDRkYzYtM2RjYS00YmFiLThiMWItMTY5YjU2NzY3MWZhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5129e2ea>New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25.\u00a0<\/p>\n<p>The comments follow the new law<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/annakelles\/status\/1595214167073607680?t=flDiCXF95gun2Ve6nGJLKw&amp;s=19\"> signed<\/a> by New York governor Kathy Hochul, banning proof-of-work (PoW) mining activities for two years in the state. The mayor, known as a crypto proponent, said in June he would ask the governor to veto the bill. <\/p>\n<p>With the bill signed into law, the city will work with legislators to find a balance between the crypto industry development and legislative needs, Adams <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nydailynews.com\/news\/politics\/new-york-elections-government\/ny-adams-hochul-crypto-bill-support-veto-bitcoin-nyc-20221125-wtnyh4i7rfhxth5iock4yurxd4-story.html\">told<\/a>\u00a0The NY Daily <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>:<\/p>\n<blockquote><p>\u201cI\u2019m going to work with the legislators who are in support and those who have concerns, and I believe we are going to come to a great meeting place.\u201d<\/p><\/blockquote>\n<p>The PoW mining moratorium will not only prohibit new mining operations but also refuse the renewal of licenses to those who are already operating in the state, as reported by Cointelegraph. Any new PoW mining operation in the state could only operate if it uses 100% renewable energy.<\/p>\n<p><strong><em>Related:\u00a0New York governor signs PoW mining moratorium into law<\/em><\/strong><\/p>\n<p>The United States leads Bitcoin mining hash rate share by country, with 37.8% of Bitcoin network hash rate coming from the country. PoW mining&#8217;s two-year moratorium could prove costly and even set a domino effect for other states to follow.<\/p>\n<p>\u201cWe must become a welcoming place for all <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. And crypto is part of the overall technology we\u2019re looking at,\u201d Adams said. \u201cThe question is: how do we make smart choices so that New York City \u2014 and America \u2014 is a leader in this new technology?\u201d, stated Adams. <\/p>\n<p>Following his election, the politician said on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> that he would take his first three paychecks in cryptocurrency and announced his intention to make NYC the &#8220;center of the cryptocurrency industry&#8221;.<\/p>\n<p>New York has some of the strictest crypto exchange rules in the United States. In June 2015, the state introduced the BitLicense regulatory regime, which has been criticized for being hostile to crypto. The BitLicense <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>lies to crypto organizations involved in transferring, buying, selling, exchanging or issuing crypto.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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 News 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-s-mayor-seeks-balance-with-regulators-after-pow-mining-moratorium\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; New York&#8217;s mayor seeks balance with regulators after PoW mining moratorium &#8220; New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25.\u00a0 The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":516556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNjY3ZDRkYzYtM2RjYS00YmFiLThiMWItMTY5YjU2NzY3MWZhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75834,117,3885,70934],"class_list":["post-516555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-pow","tag-business","tag-new-york","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516555","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=516555"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/516556"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=516555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=516555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=516555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}