New York Governor Kathy Hochul Signs Bill To Phase Out Proof-of-Work Mining

New York Governor Kathy Hochul has signed a bill cracking down on crypto mining in the state.

Hochul signed into law on Tuesday a two-year moratorium on proof-of-work (PoW) cryptocurrency mining.

The new bill will see to it that proof-of-work mining will be phased out in 2 years.

The New York State Senate passed a bill targeting proof-of-work (PoW) mining in June this year, an effort to address some of the environmental concerns about cryptocurrencies.

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