New York State is about to self-sabotage once again. First, the infamous BitLicense banned all cryptocurrency companies, and now they are considering banning the proof-of-work mining that Bitcoin operates with. Or at least it is made very difficult for mining facilities and home miners to operate from this state.
The New York State Assembly will soon vote on a bill that will “impose a moratorium on proof-of-work mining operations unless 100% of their energy comes from renewable sources.” So says the Bitcoin Advocacy Project, one of the organizations working to save New York from itself. “This could set a precedent for states across the country making the same mistake,” they say.
To make matters worse, Major Eric Adams ran on a pro-Bitcoin platform and made a big deal of getting his first three paychecks in BTC.