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Bill > A07389
NY A07389
NY A07389Establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.
summary
Introduced
05/06/2021
05/06/2021
In Committee
04/26/2022
04/26/2022
Crossed Over
06/02/2022
06/02/2022
Passed
11/22/2022
11/22/2022
Dead
Signed/Enacted/Adopted
11/22/2022
11/22/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Establishes a moratorium on the operation of cryptocurrency mining centers; provides that operation of a cryptocurrency mining center shall only be authorized following completion of a full generic environmental impact statement review and a finding that such center will not adversely affect the state greenhouse gas emission targets in the climate leadership and community protection act of 2019; provides for the repeal of such provisions upon expiration thereof.
AI Summary
This bill establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions. It requires the Department of Environmental Conservation to conduct a comprehensive generic environmental impact statement review to assess the impact of these operations on the state's greenhouse gas emission targets and other environmental and public health factors. The bill also prohibits the Department of Environmental Conservation from approving new air permits or renewing existing permits for electric generating facilities that provide energy to these cryptocurrency mining operations during the moratorium period. The bill aims to address the potential environmental and climate change impacts of the energy-intensive proof-of-work authentication method used in certain cryptocurrency mining operations.
Committee Categories
Agriculture and Natural Resources, Budget and Finance, Business and Industry, Transportation and Infrastructure
Sponsors (50)
Anna Kelles (D)*,
Thomas Abinanti (D),
Khaleel Anderson (D),
Didi Barrett (D),
Rodneyse Bichotte Hermelyn (D),
Chris Burdick (D),
Kenny Burgos (D),
Pat Burke (D),
Robert Carroll (D),
Sarah Clark (D),
William Colton (D),
Catalina Cruz (D),
Carmen De La Rosa (D),
Jeffrey Dinowitz (D),
Steven Englebright (D),
Harvey Epstein (D),
Patricia Fahy (D),
Sandy Galef (D),
Emily Gallagher (D),
Deborah Glick (D),
Jessica González-Rojas (D),
Richard Gottfried (D),
Judy Griffin (D),
Jonathan Jacobson (D),
Charles Lavine (D),
Donna Lupardo (D),
Bill Magnarelli (D),
Zohran Mamdani (D),
John McDonald (D),
Karen McMahon (D),
Marcela Mitaynes (D),
Yuh-Line Niou (D),
Steve Otis (D),
Amy Paulin (D),
Victor Pichardo (D),
Gary Pretlow (D),
Dan Quart (D),
Jonathan Rivera (D),
Linda Rosenthal (D),
Nader Sayegh (D),
Rebecca Seawright (D),
Gina Sillitti (D),
Jo Anne Simon (D),
Phara Souffrant Forrest (D),
Phil Steck (D),
Al Stirpe (D),
Fred Thiele (D),
Monica Wallace (D),
Ken Zebrowski (D),
Stefani Zinerman (D),
Last Action
approval memo.26 (on 11/22/2022)
Official Document
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