that, if ultimately signed by the governor, will prevent new proof-of-work mining facilities operating with fossil fuel energy behind the meter from setting up shop in the state for two years."We sincerely hope that Governor Hochul will not sign this bill into law, as it represents the clear targeting of one industry among hundreds of others across New York State,"Friday.
"This bill is not retroactive in nature. It is only specifically to power plants, of which we have about 30 in upstate and about 19 in downstate," said Kelles on the Assembly floor in April. The bill also tasks the Department of Environmental Conservation with conducting a General Environmental Impact Statement on all crypto mining operations in the state.The previous version of the bill had already passed in the Senate last year. However, there was some apparent resistance to moving it along this year, even after being approved by the Assembly.
"The only thing that has changed since last year and this year is that the bill has gotten more narrow and compromised and there has been an insane amount of money that has come into the state from the industry," she had said."What I am hearing from some democratic representatives is sharing the talking points of the industry. I think that the lobbying efforts have had an impact.
Kelles has opposed that view, arguing that New York could still be a leader in crypto when it comes to other aspects of the industry, such as buying, trading and selling digital assets.
Unfortunately the governor won't do so.