New York City’s Mayor Eric Adams spoke out on Monday, June 13, against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years.
The bill is designed to place a two-year moratorium on Proof of Work (PoW) crypto miners who do not use 100% renewable energy. At the same time, New York state’s environmental agency is investigating the effects of mining on the environment. The bill passed on June 3 in the State Assembly and now awaits Governor Kathy Hochul’s signature to become a law.
Mayor Adams told Crain’s on Monday that he intends to request Governor Hochul veto the bill due to the economic damage it will cause the state’s people. Mayor Adams has been a frequent proponent