Blockchain Association Criticizes Mining Ban in New York

Cryptography is a risky sector for those who only see the dark side. For those who understand its importance, it is a real source of investment. Despite all the talk about cryptocurrencies and bitcoin in particular, many people remain skeptical. prohibition Mining In New York there is a new source of conflict between sympathizers and pessimists.

Rite Blockchain Association

prohibition Mining In New York it can quickly become a source of trouble for minors. On June 3, the New York Senate approved a bill against Mining. Invokes the harmful impact of cryptocurrencies on the environment. As a result, any new carbon-based crypto-mining venture must be subject to a two-year moratorium.

This decision is far from universally agreed upon. In fact, this law has been severely criticized, particularly by the Blockchain Association. The latter is a trade association that supports and represents companies operating in the crypto sector. Its primary goal is to change the way people view cryptocurrency in the United States.

So we can understand why this decision was not passed to her. To signal his displeasure, Executive Vice President Jake Chervinsky wanted his opinion. The latter spoke on Twitter on June 5 and mentioned all the disadvantages of this new law.

For the Washington-based association, the fight against bitcoin in particular and cryptocurrencies in general will in no way contribute to curbing carbon emissions. Thus for CHervinsky, he does not see the relationship between Mining Cryptocurrencies and gas emissions into the atmosphere. Therefore, this law is no longer necessary.

The bill has catastrophic effects

In every industry there are followers and skeptics. The massive expansion of cryptocurrencies has led some people to question its validity. However, the New York State Senate isn’t just about the potential benefits.

He looks further afield, especially in terms of weather consequences. While he believes he is making the best decision to protect the environment, sympathizers with crypto mining disagree.

For the Vice President and General Manager of the Blockchain Association, blocking Mining In New York a bad idea. For him, there is no negative impact of cryptocurrency mining on the atmosphere. Moreover, this bill is not only disingenuous, but also lacks concrete analysis.

To support his view, Chervinsky asserts that good politics is grounded in reality. The honest analysis clarifies and considers opportunities, benefits, and risks. However, this is not the case in the case of taboo Mining from New York. For him, the state should instead encourage cryptocurrency mining in general and Bitcoin in particular while encouraging miners to switch to renewable energies.

However, he still hopes that the state of New York will come to his senses and understand the merits of his argument. Because this law can encourage minors to look elsewhere, where ecosystems are less present. Moreover, it comes at the wrong time, when holding cryptocurrencies in the US is of national importance.

prohibition Mining New York is a disaster for miners and cryptocurrency backers. For the Blockchain Association, this policy is not the best and could harm the technological development of the country. So this project should be banned.

Source: Finbold

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Eddie Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and introduce a field that fascinates me, nothing is better than writing articles that are informative and comfortable at the same time.

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