New York's crypto mining restrictions are the nation's first

New York’s crypto mining restrictions are the nation’s first

It’s unclear if other states will follow suit. Democratic Senators have pressed Texas to act on crypto mining energy needs, but the state administration has yet to move. Not surprise, crypto supporters have objected to regulations restricting their behaviour. According to the Chamber of Digital Commerce, New York’s legislation sets a “dangerous precedent,” and proof-of-work mining contributes to economic development. There’s also the issue of effectiveness: New York’s legislation may push some miners to states with laxer regulations.