"After an environmentally damaging delay, I’m glad that Governor Hochul signed into law a two year moratorium on proof-of-work cryptocurrency mining. This type of mining is known to cause significant damage to the environment and local economy, which is why many countries have completely banned the practice, and this moratorium is a welcome step.
"As I’ve long argued — and heard from communities across the state — it is essential to pause proof-of-work mining now rather than dealing with the fallout later–particularly when there are other, much less damaging ways of using this new technology. Enacting this moratorium is the kind of meaningful, unifying work that New Yorkers need. This legislation will allow our state to create the kind of infrastructure we need to protect New Yorkers and our environment from harmful economic and environmental impact, and I applaud the advocates and legislators who pushed for this progress for months and years."
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