ALBANY, N.Y. — New York is taking a first-in-the-nation action to tap the brakes on the spreadout of cryptocurrency mining, under legislation that Gov. Kathy Hochul signed Tuesday.
The step comes amidst growing analysis of the cryptocurrency market following this month’s collapse of the FTX exchange. But New York’s step, which passed the state Legislature in June, is particularly worried with the ecological elements of crypto.
“I will guarantee that New York continues to be the center of monetary development, while likewise taking crucial actions to focuson the security of our environment,” Hochul, a Democrat, stated in a message describing her approval.
The brand-new law sets a two-year moratorium on brand-new and restored air allows for fo