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New York Governor Hochul Signs Partial Crypto Mining Ban

The state of New York now has stricter laws on crypto mining thanks to Kathy Hochul, the governor of the state.

The bill was already approved by the New York Senate in June, but Hochul has yet to sign it because of ferocious industry lobbying, according to Bloomberg.

It places a two-year freeze on issuing new licenses for mining operations that use proof-of-work and are powered by carbon-based fuel.

In a message on November 22, Hochul pledged:

“I will ensure that New York continues to be the center of financial innovation, while also taking important steps to prioritize the protection of our environment.”

This year, the issue generated intense discussion in the state Capitol, with the industry asking Hochul to oppose the legislation and environmental organizations urging lawmakers to support it.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.