The State of New York is once again on the cusp of banning crypto mining activities of proof-of-work networks such as Bitcoin and Ethereum.
We must not go backwards on our commitment, in law, to prevent these disastrous impacts to the residents of New York.
At the time of writing, there is an online public campaign by the Bitcoin Advocacy Project asking the crypto community in New York to contact their local representative and explain why they are against the bill.
Not only would this policy box New York out of the economic benefits of mining, but it won’t do anything to reduce emissions as miners will simply set up operations somewhere else.
The actions of the New York State Assembly are in contradiction to those of NYC’s mayor, Eric Adams, who made headlines for being crypto-friendly particularly during his campaign late last year.