Kathy Hochul New York city New York Digital Kathy Hochul New York city New York

New York puts brakes on crypto mining

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fnlondon.com

New York has become the first state to restrict cryptocurrency mining after Governor Kathy Hochul on 22 November signed a two-year moratorium, calling the move necessary to help protect the environment.The new law, which took effect immediately, will prevent the reactivation of fossil-fuel power plants for off-the-grid cryptocurrency mining.

Cryptocurrency miners earn digital cash by solving mathematical equations with computers that require large amounts of energy to power.

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