New York Governor yet to commit to signing Bitcoin mining ban into law
Governor Hochul said that;
“We’ll be looking at all the bills very, very closely. We have a lot of work to do over the next six months,”
New York overnor Kathy Hochul is yet to publicly commit to signing the controversial Proof-of-Work (PoW) bitcoin mining ban bill,
Moreover, she said that she is still focus on one thing
Her team will be looking “very closely” at the proposal over the next few months.
As we know, if she signs the bill into law the PoW crypto mining operations backed by fossil fuels will no longer be able to set up shop or renew existing licenses in New York.
Under the new regulations, only PoW operations backed by 100% renewable energy that will be able to operate.
In fact, The New York State Senate passed the bill on June 3
It is to the dismay of members in the crypto community,
Then, it means the fate of the bill is now in the hands of Governor Hochul
Who has the power to approve or veto the legislation.
At this stage, it appears that the Democrat has no intentions of rushing the decision
And she may have bigger fish to fry with the upcoming primary election on June 28.
During a news conference on Tuesday, Hochul opted not to draw a line in the sand regarding the PoW ban,
As she suggested the deliberation process could take a few months:
“We’ll be looking at all the bills very, very closely. We have a lot of work to do over the next six months.”
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