American bureaucrats, especially Democrats, are worried about climate change and have introduced many legislations to solve these problems. Now, a lawmaker from New York wants to suspend bitcoin mining facilities in the state, which means that cryptocurrency miners in New York will have to stop operations. Senator Kevin Parker (D) believes that Bitcoin mining will have a negative impact on the environment, and companies must pass state greenhouse gas emission targets to continue.

New York lawmaker proposes to terminate three-year cryptocurrency mining business

Mainstream media and politicians around the world are worried that Bitcoin (BTC) or cryptocurrency mining will have an impact on the environment. Bitcoin mining uses a lot of electricity so that miners can process blocks and protect the network.

In recent years, the United States has increased the number of Bitcoin miners, and there are many Bitcoin mining facilities in upstate New York. Bureaucrats in the state don’t like cryptocurrency mining because it is “energy-intensive”.

In the legislation recently submitted by the New York Senate called “Act No. 6486,” Senators Kevin Parker and Rachel May (D) emphasized that cryptocurrency mining “not only threatens The New York climate targets set by CLCPA also threaten global energy policy, for example, as the Paris Agreement.”

New York Senate Bill No. 6486 provides:

[This Bill] Suspend the operation of the cryptocurrency mining center; stipulates that the cryptocurrency mining center can only be authorized after a comprehensive general environmental impact statement review is completed and it is found that the center will not adversely affect the state greenhouse gas emission targets of the 2019 Climate Leadership and Community Protection Act Operations.

See also  The revised “virtual assets” bill aims to regulate Ukraine’s crypto space this summer – Regulate Bitcoin News

New York State legislators aim to protect and protect the environment in New York State

The bill states that the suspension of mining operations will be a “three-year suspension.” “The environmental impact statement shall be subject to 120 days of public comment from the date of issuance.” In addition, the New York Department of Environmental Protection will conduct public consultation in seven regions of the state. Public hearings are conducted in each region.

The bill stated that the main reason for the three-year suspension of cryptocurrency mining is because climate change may pose a threat to the environment in New York.

The bill emphasizes things such as “flooding, rising sea levels, heat waves, coastal erosion, unstable and unpredictable weather patterns, changes in climate zones, loss of wildlife, increased harmful algal blooms and invasive species, and increased risk of disease. , Which directly leads to casualties, property loss and value reduction, ecological damage, and increased infrastructure costs.”

Democratic senators Kevin Parker and Rachel May insisted that it is New York’s policy to improve this situation and protect and protect the environment in New York State.

What do you think about the possible suspension of cryptocurrency mining in New York for three years? Let us know your thoughts on this topic in the comments section below.

Tags in this story

Bill, bitcoin, bitcoin (BTC), bitcoin mining, climate change, crypto legislation, crypto mining, Democratic senator, Kevin Parker, legislation, mining, New York, New York, New York State, Rachel May, Three-year pause, three-year pause

Picture Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. does not provide investment, tax, legal or accounting advice. The company or the author shall not bear any direct or indirect responsibility for any damage or loss caused or allegedly caused by the use or reliance on any content, goods or services mentioned in this article or related thereto.