New York City Mayor Eric Adams on Monday opposed a two-year moratorium on mining cryptocurrencies based on the Proof-of-Work consensus algorithm in the state.
The corresponding document was approved earlier this month by the upper house of the New York State Parliament. However, Mayor Eric Adams believes such a moratorium would harm the state’s residents and economy. In an interview with Crain’s, Adams said he would petition the state governor to veto the bill.
“We cannot continue to create obstacles for the miners who develop the economy of the state. I will ask the Governor to consider vetoing a bill that hinders the development of the cryptocurrency industry in the state,” said the mayor of New York.
It is possible that the governor will refuse to veto, because the bill is for the state’s environment. At the same time, New York plans to reduce carbon dioxide emissions by 85% by 2050, and the use of fossil energy sources for mining does not fit into this strategy.
At the same time, already now more than half of the energy used by the state is obtained from renewable sources. Eric Adams can be called a cryptocurrency enthusiast. Previously, he urged regulators to listen to representatives of the cryptocurrency industry in order to create a quality legislative framework for the industry.
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