New York City Mayor Eric Adams has said that crypto goals could combine with emissions reduction plans.
Adams said he believes the state can still be a crypto hub.
New York Could Be a Crypto Hub
New York City Mayor Eric Adams is still focused on making New York a crypto hub. However, he believes that in doing so, it can also reduce the environmental costs associated with crypto mining.
The state’s governor, Kayhy Hocul, recently passed a law banning proof-of-work mining in the state for two years. The mayor wants this bill vetoed.
Adams is focused on finding balance.
“I’m going to work with lawmakers who are supportive and have concerns and I’m focused on finding great common ground.”
The PoW mining moratorium will not only ban mining operations, but will also refuse license renewals to companies already operating in the state. Only companies using 100% renewable energy will be able to continue to operate.
The United States is at the top of the world with a hash rate of 37.8% from the country.
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