New York just passed a bill cracking down on bitcoin mining — here’s everything that’s in it. Lawmakers in New York just passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources.
Is crypto mining illegal in ny?
The New York Senate passed Bill S6486D banning cryptocurrency mining in the state when relying on carbon-based energy sources to power their operation.
Is cryptocurrency legal in NY?
Yes. A business that is chartered under the New York Banking Law (for example, a New York State limited purpose trust company or a New York State bank) can engage in Virtual Currency Business Activity without a BitLicense if it has received the Superintendent’s approval to do so.
Are crypto miners illegal?
Bitcoin mining is legal in most countries, but several jurisdictions have banned this practice. China, one of the world’s largest economies, has outlawed bitcoin mining. The nation’s government has also prohibited all cryptocurrency transactions.
