New York State Senate Passes Crypto Mining Moratorium Bill

Key Takeaways

  • New York has passed a bill that will establish a two-year moratorium on Bitcoin mining operations in the state.
  • The policy will affect New York-based mining firms that do not use renewable energy—all but one firm at present.
  • If the bill is signed, New York will become the first state in the U.S. to impose a ban on cryptocurrency mining.