The U.S. proposed to ban the mining of cryptocurrencies

05.05.2021 |

A senator from New York State has made a proposal to limit the activities of mining companies for the next three years. During this time it is planned to collect enough information to determine the criteria of environmental safety of this type of activity. Also, according to the politician, it is worth getting an opinion from the Environmental Protection Committee on how cryptocurrency mining can affect greenhouse gas emissions, air pollution and the environment in general.

The initiative was released as part of the New York authorities’ plan to improve the environmental situation. It says that current digital asset mining activities are mostly built around power plants generating energy from fossil fuels, which is not in line with the stated plan to reduce the Earth’s carbon footprint.

At the end of the three-year moratorium, it is proposed to license the activities of mining companies. Permits to operate would be issued only if the applicant could provide evidence of compliance with the plans to reduce emissions and the environmental safety of their activities.