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Is the US also heading towards a ban?

While Bitcoin appears to have hit rock bottom and experts are hoping for a rally in the cryptocurrency’s value, today another discouraging piece of news has arrived for token miners: what appears to be, in fact, New York State Limits Bitcoin Miningin a move that could have repercussions across the United States.

Specifically, the state has Fossil fuels banned in various sectors, including Mining For cryptocurrency, which requires power plants that use these sources not to supply electricity to businesses in the crypto sector. At the same time, the Big Apple has begun studies on the environmental impact of mining, which can easily lead to a file Complete ban on cryptocurrency mining All over New York State.

law met Various oppositions in local politicsWhile New York Gov. Cathy Hochhol can veto law Project Already approved by the Senate. Moreover, if the law is passed in its current form, it could open a national debate in the United States about Cryptocurrency mining restriction all over the country.

In the meantime, however, New York miners could be hit hard by the restrictions: to make matters worse, there is the fact that many of the latter Already fled from China to the United States When Beijing imposed a nationwide ban on cryptocurrency mining. An alternative might, in this case, be a file offset mining device In one of the states adjacent to New York State, such as New Jersey.

For American miners, a period of uncertainty opens: It’s not really clear whether Congress or the White House will ever decide Cryptocurrency mining regulation With restrictions, and do not know the extent of the latter at the national level, if approved. However, the New York precedent could prompt other states to independently legislate the same, creating an “incomplete” US map of mining.

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Earl Warner

"Devoted bacon guru. Award-winning explorer. Internet junkie. Web lover."

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