New York residents have expressed displeasure over the proposed bill that could see the city ban non-renewable Bitcoin (BTC) mining operations if passed.
In a bid to stop the city’s lawmakers from passing the anti-Bitcoin mining bill into law, concerned New York citizens have created a new campaign asking residents to vote against the proposed regulation.
Details About the Bill
The bill A.7389C / S. 6486C proposed by a few environmentalists and prominent lawmakers to impose a three-year ban on Bitcoin mining operators who burn fossil fuels to mine the world’s largest cryptocurrency.
The main focus is on gas plants that provide electricity to Bitcoin miners who have been accused of causing environmental degradation via the activity.
Although the proposal was largely criticized earlier this year when it first came to public notice, residents have taken advanced steps to stand against the regulation by voting against the bill.
It is worth noting that the votes of each resident will be sent directly to the member of Assembly representing each zone.
Interested Bitcoin enthusiasts in New York who are committed to stopping anti-friendly Bitcoin laws in New York are required to provide their full name, email, mobile number and home address, including zip code.
The campaign already has a pre-configured message, which reads:
“As a voter from your district, I am asking that you please vote no on (A.7389C / S. 6486C), the bill being pushed in a last-minute effort to restrict the growing crypto mining industry.”
The message also notes that Bitcoin mining is not only creating jobs for New York residents, it is also adding millions of dollars of investments to the city’s economy, adding:
“This industry also has the potential to improve grid resilience and increase investment into green and renewable energy assets.”
Notably, the bill is still up for deliberation in the House of Assembly, and will be moved to the state Senate after it is passed to the lower house, thus giving New York residents enough time to make their voices heard.
New York’s Friendly Bitcoin Approach
Recall that after China announced a full-scale ban on crypto-related transactions, including Bitcoin mining, miners flocked to upstate New York because the city offers cheap energy.
New York has been friendly toward Bitcoin since Eric Adams was elected mayor to pilot the affairs of the city.
Adams disclosed earlier this year that he would receive his first three paychecks in Bitcoin and further urged schools to teach students about cryptocurrencies and the opportunities associated with the nascent asset class.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
