New York State's ban on PoW mining could have a silver lining.
The sponsor of the bill, environmental and housing rights activist Anna Kellesthese arguments in a Twitter discussion with the head of policy of Blockchain Association Jake Chervinsky. She pointed out that the bill is “extremely narrow in scope” and will only pertain to “large-scale crypto mining” in power plants that use fossil-based energy sources.
John Warren, CEO of GEM Mining — which claims its 32,000 miners to be 97% carbon neutral — commented to Cointelegraph that the passage of this bill reveals that the New York legislature is “dominated by radical and fringe elements” who are “ignorant to a new and innovative sector of finance and technology.” Warren said:
“We’ve recently seen the opposite as many legislators have openly encouraged crypto operations in their states and even gone so far as to enact legislation in favor of crypto. Take Georgia, for example.”
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