fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Thursday, March 23, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

New York’s electrical workers oppose the Bitcoin mining ban

June 14, 2022
in Crypto News
Reading Time: 2 mins read
A A
New York’s electrical workers oppose the Bitcoin mining ban
ShareShareShareShareShare

Related articles

Breaking: Montenegro officials arrest man suspected to be Terra founder – Do Kwon

Breaking: Montenegro officials arrest man suspected to be Terra founder – Do Kwon

March 23, 2023
Is Dogecoin Dead? This is When DOGE Price May Reach Above $0.1

Is Dogecoin Dead? This is When DOGE Price May Reach Above $0.1

March 23, 2023

  • NYC Gov. Kathy Hochul said that she will take a fair approach while deciding on the Bitcoin mining proposal.
  • NYC Mayor Eric Adams said that the ban will serve as a barrier to miners who have contributed to New York’s economy.

Earlier this month, the New York Senate approved a bill banning Bitcoin mining operations in the city citing environmental concerns. But not many are happy about the proposal as they believe that it would lead to a loss of major economic activity for New York City (NYC).

However, the ball is in NYC Gov. Kathy Hochul’s court whether or not to pass the Bitcoin banning law. The International Brotherhood of Electrical Workers (IBEW) has opposed the Bitcoin mining ban in New York. The IBEW represents construction workers across the state who have been building and renovating Bitcoin mining centers. They have opposed the proposal of Bitcoin mining saying that it will majorly hamper their economic activity.

For now, Governor Hochul has delayed the decision to the end of the year saying “we have a lot of work to do over the next six months”. At the same time, she also understands the workers’ concerns. In a press conference last month, Gov. Hochul said:

We have to balance the protection of the environment, but also protect the opportunity for jobs that go to areas that don’t see a lot of activity.

Some of the bill supporters have argued that these gas-guzzling power plants have their own economic drawdowns. In the past, there have been major concerns over the use of excess electricity for Bitcoin mining. Currently, New York contributed to 20% of the entire crypto mining activities in the U.S.

NY Mayor Eric Adams Opposes the Ban

Eric Adams, the recently appointed mayor of New York City is himself a Bitcoin proponent. In fact, Adams also converted a few initial months of his salary to BTC. The Mayor has now requested Gov. Kathy Hochul for rejection of the bill that seeks to ban Bitcoin mining.

He notes that if passed into law, it would have a major negative economic impact on the State. It will also wipe out the gains made by the state over the course of time. As reported by Crain’s New York, NYC mayor Eric Adams said:

I’m going to ask the Governor to consider vetoing the bill that is going to get in the way of cryptocurrency upstate. When you look at the billions of dollars that are spent on cryptocurrency – New York is the leader. We can’t continue to put barriers in place.

The Mayor also stated that the law is emerging as a barrier to the miners who have contributed to the State’s economy. Adams is one of the few politicians who has continued his support for Bitcoin despite the crashing prices.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Crypto Leaks launches platform that reveals scams and corruption in the crypto space

Next Post

MicroStrategy Risks Margin Call as Bitcoin Drops Below $21,000, Shares Plunge

Related Posts

Breaking: Montenegro officials arrest man suspected to be Terra founder – Do Kwon

Breaking: Montenegro officials arrest man suspected to be Terra founder – Do Kwon

March 23, 2023

  Authorities in Montenegro – a Balkan country – have arrested a man who could potentially be Terra’s founder –...

Is Dogecoin Dead? This is When DOGE Price May Reach Above $0.1

Is Dogecoin Dead? This is When DOGE Price May Reach Above $0.1

March 23, 2023

Dogecoin price was trading within a decisive phase, which was broken down during the first few days of the month...

Grease Monkey Games forms a partnership with Konig

Grease Monkey Games forms a partnership with Konig

March 23, 2023

Grease Monkey Games, a subsidiary of Animoca Brands, has formed a partnership with Konig that is mutually beneficial. This will...

StormGain Launches DEX As Self-Custody Demand Grows

StormGain Launches DEX As Self-Custody Demand Grows

March 23, 2023

Cryptocurrency platform StormGain has launched a decentralized exchange (DEX) to support the decentralized trading of digital assets with no custodial...

SushiSwap served with subpoena from the U.S SEC

SushiSwap served with subpoena from the U.S SEC

March 23, 2023

In a recent proposal, it was revealed that Sushi and Head Chef Jared Grey were hit with a Subpoena.  SUSHI...

Load More
Next Post
MicroStrategy Risks Margin Call as Bitcoin Drops Below $21,000, Shares Plunge

MicroStrategy Risks Margin Call as Bitcoin Drops Below $21,000, Shares Plunge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Russian lawmakers approve first reading of draft laws establishing CBDC regulation, issuance

Russian lawmakers approve first reading of draft laws establishing CBDC regulation, issuance

March 18, 2023
Bitcoin Price Analysis: 27901 In Sight

Bitcoin Price Analysis: 27901 In Sight

March 19, 2023
Taiwan FSC to regulate crypto

Taiwan FSC to regulate crypto

March 20, 2023
Texas Senator Ted Cruz Introduces Anti-CBDC Bill

Texas Senator Ted Cruz Introduces Anti-CBDC Bill

March 22, 2023
Ripple joins forces with Blockchain Founders Fund to supercharge Web3 adoption

Ripple joins forces with Blockchain Founders Fund to supercharge Web3 adoption

March 18, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase
  • Federal Reserve Admits Blindsided Oversight of SVB Collapse
  • Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets
  • Uphold ends staking for US customers following SEC guidance
  • DOGE Rebounds, LTC Climbs 13% Higher – Market Updates Bitcoin News
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,359.004.04%
  • ethereumEthereum(ETH)$1,822.914.79%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.74%
  • binancecoinBNB(BNB)$330.212.51%
  • usd-coinUSD Coin(USDC)$1.00-0.46%
  • rippleXRP(XRP)$0.4471406.27%
  • cardanoCardano(ADA)$0.3751274.66%
  • dogecoinDogecoin(DOGE)$0.0773725.39%
  • staked-etherLido Staked Ether(STETH)$1,823.625.56%
  • matic-networkPolygon(MATIC)$1.131.27%
  • solanaSolana(SOL)$22.093.18%
  • binance-usdBinance USD(BUSD)$1.00-0.15%
  • polkadotPolkadot(DOT)$6.324.25%
  • litecoinLitecoin(LTC)$93.9610.76%
  • shiba-inuShiba Inu(SHIB)$0.0000113.45%
  • tronTRON(TRX)$0.0654439.71%
  • avalanche-2Avalanche(AVAX)$17.575.21%
  • daiDai(DAI)$1.00-0.30%
  • uniswapUniswap(UNI)$6.284.21%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,421.004.34%
  • chainlinkChainlink(LINK)$7.595.88%
  • cosmosCosmos Hub(ATOM)$11.754.58%
  • leo-tokenLEO Token(LEO)$3.37-0.30%
  • ToncoinToncoin(TON)$2.08-13.66%
  • ethereum-classicEthereum Classic(ETC)$20.704.72%
  • moneroMonero(XMR)$156.224.80%
  • okbOKB(OKB)$44.990.61%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$127.821.51%
  • stellarStellar(XLM)$0.0926872.78%
  • filecoinFilecoin(FIL)$5.886.78%
  • AptosAptos(APT)$13.096.09%
  • true-usdTrueUSD(TUSD)$1.00-0.74%
  • lido-daoLido DAO(LDO)$2.330.56%
  • hedera-hashgraphHedera(HBAR)$0.0624833.02%
  • ArbitrumArbitrum(ARB)$1.47-70.75%
  • quant-networkQuant(QNT)$126.932.71%
  • crypto-com-chainCronos(CRO)$0.0702082.95%
  • nearNEAR Protocol(NEAR)$2.045.99%
  • vechainVeChain(VET)$0.0235634.94%
  • blockstackStacks(STX)$1.17-0.65%
  • algorandAlgorand(ALGO)$0.2184632.14%
  • internet-computerInternet Computer(ICP)$5.204.63%
  • apecoinApeCoin(APE)$4.145.81%
  • fantomFantom(FTM)$0.4959896.97%
  • the-graphThe Graph(GRT)$0.1534938.04%
  • eosEOS(EOS)$1.165.68%
  • the-sandboxThe Sandbox(SAND)$0.662.83%
  • decentralandDecentraland(MANA)$0.614.46%