{"id":189305,"date":"2021-05-05T11:00:37","date_gmt":"2021-05-05T10:00:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=189305"},"modified":"2022-01-20T19:55:24","modified_gmt":"2022-01-20T19:55:24","slug":"miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction\/","title":{"rendered":"Miami mayor says New York&#8217;s plan to halt Bitcoin mining is a step in &#8220;wrong direction&#8221;"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A new bill has been introduced in the New York State Senate that proposes to halt Bitcoin (BTC) mining for three years while researchers will be assessing its impact on the environment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Senator Kevin Parker initially presented his proposal, titled <\/span><a href=\"https:\/\/www.nysenate.gov\/legislation\/bills\/2021\/S6486\"><span style=\"font-weight: 400;\">Senate Bill S6486<\/span><\/a><span style=\"font-weight: 400;\">, to the Environmental Conservation Committee on Monday.<\/span><\/p>\n<p>However, it attracted criticism from several quarters, notably from Bitcoin-friendly Miami mayor Francis Suarez (he has pushed for forward-thinking laws and regulations for cryptocurrencies in recent times).<\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">&#8220;This is another step by NY in the wrong direction.\u00a0 <\/span><span class=\"r-18u37iz\">Miami <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">can mine <\/span><span class=\"r-18u37iz\">Bitcoin with <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">clean nuclear energy provided by I<\/span><span class=\"r-18u37iz\">nsideFPL. <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">We want to be the crypto mining capital of the world and know it can be done sustainably and incorporate solar,&#8221; he tweeted.<\/span><\/p>\n<div class=\"css-1dbjc4n r-xoduu5 r-1mlwlqe r-1d2f490 r-1udh08x r-u8s1d r-h9hxbl r-417010\" aria-label=\"\"><\/div>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is another step by NY in the wrong direction. <a href=\"https:\/\/twitter.com\/CityofMiami?ref_src=twsrc%5Etfw\">@CityofMiami<\/a> can mine <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&ref_src=twsrc%5Etfw\">#Bitcoin<\/a> w clean nuclear energy provided by <a href=\"https:\/\/twitter.com\/insideFPL?ref_src=twsrc%5Etfw\">@insideFPL<\/a>&#8230;.We want to be the crypto mining capital of the world and know it can be done sustainably and incorporate solar. <a href=\"https:\/\/t.co\/qk3qs1vpA7\">https:\/\/t.co\/qk3qs1vpA7<\/a><\/p>\n<p>&mdash; Mayor Francis Suarez (@FrancisSuarez) <a href=\"https:\/\/twitter.com\/FrancisSuarez\/status\/1389747493114687492?ref_src=twsrc%5Etfw\">May 5, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>&#8220;Threat to New York's climate goals&#8221;<\/h2>\n<p><span style=\"font-weight: 400;\">\u201cEstablishes a moratorium on the operation of cryptocurrency mining centers; provides that operation of a cryptocurrency mining center shall only be authorized following completion of a full generic environmental impact statement review and a finding that such center will not adversely affect the state greenhouse gas emission targets in the climate leadership and community protection act of 2019,\u201d said the documents' summary.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After briefly explaining in broad terms how mining works, the bill then stated that \u201ccryptocurrency mining requires a vast amount of electricity\u201d and is \u201cinherently energy-intensive.\u201d Because of this, \u201ccryptocurrency mining threatens not only New York's climate goals, [&#8230;] but also global energy policy, such as the Paris Agreement.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cStudies have found that one bitcoin transaction is equivalent to the carbon footprint of 735,121 Visa transactions; and as the use of bitcoin increases in popularity, the more <\/span><span style=\"font-weight: 400;\">resources it demands,\u201d said the document.<\/span><\/p>\n<h2>A three-year moratorium<\/h2>\n<p><span style=\"font-weight: 400;\">To tackle these issues, the bill proposes to conduct an assessment of the environmental impact of Bitcoin mining, which then will be presented to the general public to comment on for 120 days. The policymakers also plan to hold at least three public hearings in each of <\/span><span style=\"font-weight: 400;\">New York State\u2019s seven regions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the bill proposed to halt all mining activity in the state for three years just in case.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cCryptocurrency mining centers are an expanding industry in the State of New York, often, but not exclusively, located in retired or converted fossil fuel power stations, including dormant peaker plants,\u201d the bill added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As <\/span><i><span style=\"font-weight: 400;\">CryptoSlate<\/span><\/i><span style=\"font-weight: 400;\"> reported, Bitcoin and other cryptocurrencies <\/span><a href=\"https:\/\/cryptoslate.com\/bitcoin-is-slow-impractical-and-eco-unfriendly-says-bank-of-america\/\"><span style=\"font-weight: 400;\">have been under fire<\/span><\/a><span style=\"font-weight: 400;\"> lately due to the energy-intensive nature of mining\u2014at least when it comes to proof-of-work consensus algorithms.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new bill has been introduced in the New York State Senate that proposes to halt Bitcoin (BTC) mining for three years while researchers will be assessing its impact on the environment. Senator Kevin Parker initially presented his proposal, titled Senate Bill S6486, to the Environmental Conservation Committee on Monday. However, it attracted criticism from [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":189321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,2376,11],"tags":[60786],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Miami mayor says New York&#039;s plan to halt Bitcoin mining is a step in &quot;wrong direction&quot;<\/title>\n<meta name=\"description\" content=\"A new bill has been introduced in the New York State Senate that proposes to halt Bitcoin (BTC) mining for three years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami mayor says New York&#039;s plan to halt Bitcoin mining is a step in &quot;wrong direction&quot;\" \/>\n<meta property=\"og:description\" content=\"A new bill has been introduced in the New York State Senate that proposes to halt Bitcoin (BTC) mining for three years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-05T10:00:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-20T19:55:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/new-york-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/miami-mayor-says-new-yorks-plan-to-halt-bitcoin-mining-is-a-step-in-wrong-direction\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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