Deputies in the parliament of the American state of New York voted to ban new bitcoin mining operations, reports CNBC from Albania, the capital of that country.
If it signs the document, New York would become the first country in the United States to ban blockchain technology infrastructure, says Perian Boring, founder and president of the Chamber of Digital Commerce.
Proof-of-work mining, which requires sophisticated equipment and a lot of electricity, is used to create bitcoin.
“This is a significant setback for the state and will stifle its future as a leader in technology and global financial services.
Boring tells CNBC the recent swell of support in favor of this year’s proposed ban has a whole lot to do with this mandate to transition to sustainable energy.