As the state of New York pushes forward a bill that will ban proof-of-work (PoW) mining once approved, members of the crypto community express their disagreement through social media.
“The move will not “reduce carbon emissions” at all. According to Chervinsky, a mining ban will only push miners away from New York to build in other areas where the state has no influence over them.” – Jake Chervinsky, the head of policy at Blockchain Association.cointelegraph
Chervinsky hopes that New York Governor Kathy Hochul will veto the bill “for the sake of New York.” The lawyer noted that the move sends a message that “crypto is not welcome” in the state. If the bill is implemented, Chervinsky mentioned that it will be a policy error from the world’s financial capital.