New York Assembly passes two-year crypto mining moratorium bill

Quick Take

  • Lawmakers in the New York Assembly voted to pass a bill that would prevent the expansion of certain carbon-based crypto mining operations.
  • Republican lawmakers argued that the bill was “anti-tech” and would send the wrong signal.
  • Though the measure passed the New York State Legislature’s lower chamber, a similar bill is still in committee in the Senate.

The New York State Assembly voted to pass a bill that will essentially freeze current levels of crypto mining carbon emissions until the state can act on a comprehensive impact study.

The bill passed with a vote tally of 95 in favor and 52 against. It aims to impose a two-year moratorium, specifically preventing new permits