New York Bill Aims to Limit Cryptocurrency Mining Activity

Democratic lawmakers in New York State have introduced a bill that aims to curtail Proof-of-Work (PoW) mining operations. This proposed legislation seeks to strengthen existing regulatory measures, focusing on overseeing cryptocurrency mining businesses within the state. The initiative comes as part of ongoing efforts to address environmental and regulatory concerns regarding PoW mining’s high energy consumption. New York State highlights its commitment to navigating technological progress while upholding environmental sustainability.