The governor of New York enacts a groundbreaking law that prohibits bitcoin mining.
The law, which was signed on Tuesday by New York Governor Kathy Hochul, outlaws some bitcoin mining companies that use carbon-based energy sources. A proof-of-work mining firm will not be permitted to expand, renew permits, or allow new competitors to start operations for the next two years unless it employs only renewable energy. Hochul stated in a court document outlining her choice that it is the first of its sort in the nation. The governor went on to say that it was an important move for New York in its efforts to reduce its carbon footprint by cracking down on…