New York governor signs PoW mining moratorium into law

Cointelegraph

Published Nov 23, 2022 04:08AM ET

Updated Nov 23, 2022 05:40AM ET

New York governor Kathy Hochul signed the proof-of-work (PoW) mining moratorium into law on Nov. 22, making it the first state in America to ban any PoW crypto mining activity for two years.

The PoW mining moratorium will not only prohibit new mining operations but also refuse the renewal of licenses to those who are already operating in the state. Any new PoW mining operation in the state could only operate if it uses 100% renewable energy.

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