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Policy

Bitcoin Mining Ban Bill Makes It Out of New York State Assembly Committee

The legislation aims to put in place a two-year moratorium on the kind of crypto mining used to secure the Bitcoin network.

By Stephen Alpher
AccessTimeIconMar 22, 2022 at 7:17 p.m. UTC
Updated May 11, 2023 at 5:21 p.m. UTC
Coinmint's bitcoin mine in Massena, New York, pictured in 2020. (Prieur Leary)

Coinmint's bitcoin mine in Massena, New York, pictured in 2020. (Prieur Leary)

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The Environmental Conservation Committee of the New York State Assembly voted on Tuesday afternoon to move along a proposed law that would ban so-called proof-of-work (PoW) cryptocurrency mining for two years.

  • The bill was put together under the auspices of the state's Climate Leadership and Community Protection Act, which mandates that New York's greenhouse gas emissions be cut by 85% by 2050, with net emissions being slashed to zero.
  • It would effectively ban PoW mining – the energy-intensive process used to secure the Bitcoin (BTC) network – for a period of two years.
  • The legislation still requires passage by the entire New York State Assembly and the state's Senate, and then would need to be signed into law by the governor.
  • Earlier this month, a similar PoW ban narrowly failed to pass in an EU Parliament committee vote.
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Read more: After Short-Lived Ban, City in Upstate NY Is Still Reckoning With Crypto Miners

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Stephen Alpher
Stephen Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Follow @SteveAlpher on Twitter

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