New york ban on crypto mining

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The legislation will impose a two-year moratorium on crypto-mining companies that are seeking new permits to retrofit some of the oldest and. And the state Legislature has passed a new law limiting the ability of cryptocurrency mining companies to take over upstate power plants. The. Establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; provides that.

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Enter a message to your senator. The information in each block is authenticated by users of the system in a transparent, decen- tralized, and democratic manner. Cryptocurrency mining can happen on a personal computer at home, a traditional computer data center, or a purpose-built facility.