- Kathy Hochul is facing real pressure in signing the crypto moratorium
- The bill is passed by the state’s Assembly of New York
The governor of New York, Kathy Hochul, is handling real pressure to sign the crypto moratorium without delay. The crypto moratorium is passed by the state’s Assembly of New York.
The governor is very lavish in nature, so she is somehow nervous about signing the moratorium. The bill clearly states a two-year ban on all types of startup companies for cryptocurrency mining in the country. But possibly, either the governor sees some flaws in the bill, or she feels like if the bill is signed and it eventually becomes law, then it may lead the country very far from the race of competition. But, the liberal voters of the country don’t think so and want the governor to sign the bill and make it a law.
A section of the moratorium bill states that:
New York is potentially the financial capital of the world, and we must make sure that we must promote the foundation of an environment that permits us to lead the world in the financial sector.
Environmentalists and the governor
However, environmentalists are not so happy with the delay of Hochul. But, at the same time, she received a compliment for blocking a crypto mining firm, Greenidge, who wanted to turn an idle power plant into a building for its mining activities. The step was not in favor of the environment. The environmentalists didn’t want it to happen. The environmentalists also want their country to become a leader in a new green wave of energy.
Yuonne Taylor, a speech-language therapist at Seneca lake guardian, is encouraging the moratorium. She gave an interview in which she mentioned:
The governor should complete the job by simply signing the crypto moratorium bill.
After the loss, the crypto mining company Greenidge filed a petition with its plan to stay in business with its license as it allows it to continue functioning. The authority commented:
“The judgment will not affect any ongoing functioning of the company as we can carry on our work steadily and continuously with our Title V Air Permit. The permit is still in function, and it can also protest this baseless and volatile judgment.
In the past few years, many debates have been done on the effect of crypto mining on the environment. Some people favor that there is no return to the globe from the crypto mining activity. Many reports state that the power required for bitcoin mining is even more than in various developing countries.
Source: https://www.thecoinrepublic.com/2022/08/01/the-governor-of-new-york-hochul-is-facing-real-pressure-to-sign-crypto-moratorium/