New York governor Hochul signs moratorium to curb crypto mining

The new law sets a two-year moratorium on new and renewed air permits for fossil fuel power plants used for energy-intensive proof-of-work (PoW) cryptocurrency mining.

The New York State Senate passed a bill targeting proof-of-work (PoW) mining in June this year an effort to address some of the environmental concerns about cryptocurrencies. The State Assembly passed the bill in May.