New York State Assembly passes ban on new BTC mines that don’t use green power

The New York State Assembly passed a bill late on Tuesday April 26 that would place a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon based fuel to power their operations. The bill sponsored by Anna Kelles would not only impose a two-year hold on approval […]

New York legislators to vote on PoW mining moratorium this week

The New York state legislature might ban Proof-of-Work (PoW) crypto mining in the state for at least two years, citing environmental concerns.  Over the past weekend, on April 23 and 24, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the […]

The New China: Is New York Actually Going To Ban Proof-Of-Work Mining?

The state of New York is about to shoot itself in the foot yet again. First, the infamous BitLicense drew all cryptocurrency companies away and now they’re considering banning Proof-Of-Work mining. Or at least making it very hard for mining facilities and home miners to operate from the state.  The New York State Assembly will […]

BitLicensed Crypto Firms Ordered to Pay Annual Assessment Fees in New York

The cost of running a crypto business in New York is about to rise with the state government gearing up to require companies holding a BitLicense to pay assessment fees to ensure they’re complying with regulations. The rule was included in New York State’s FY2023 budget signed into law on April 9th by Governor Kathy […]

Former Ethereum Developer Virgil Griffith to Be Sentenced in New York Court Tuesday

Though the potential sentence is a hefty one, it is a fraction of the maximum sentence of 20 years Griffith could have faced if he chose to take his chances with a jury trial. Griffith’s lawyers have asked the court to consider a more lenient sentence of two years, with credit for time served in […]

New York Senate Authorizes NYDFS to 'Assess' Crypto Companies

The New York State Senate is boosting the state’s Department of Financial Services (NYDFS) efforts to oversee the cryptocurrency sector. The Senate passed its fiscal year 2023 budget early Saturday, which included a provision tasking NYDFS with developing a new “assessment” or charge for the cryptocurrency companies it oversees to bring its oversight mandate in […]

Ethereum is like the best and worst parts of New York: Grayscale

Digital asset manager Grayscale has published a report on smart contract platforms in which it likens the Ethereum (ETH) blockchain to the best and worst parts of New York City. The report examines the granddaddy smart contract network Ethereum in comparison to newer competing blockchains such as Solana (SOL), Avalanche (AVAX), Polkadot (DOT), Cardano (ADA) […]

SEC Chair Clayton Nominated as US Attorney for New York

U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton may be the next U.S. Attorney for the Southern District of New York. According to a Department of Justice press release published late Friday, Clayton has been nominated by U.S. President Donald Trump to helm the prosecutor’s office, three years after he first took on the […]

New York Fed’s ‘Bitcoin Is Fiat’ Claim Sparks Controversy

Economists with the New York Federal Reserve do not think that bitcoin is a new kind of money. Bitcoin, the decentralized, permissionless, trustless digital value system that an anonymous programmer ginned up over a decade ago is “just another example of fiat money,” said Michael Lee and Antoine Martin in a Thursday blog post. “Bitcoin […]