Certain Democrats have made the case that the U.S. federal government should follow New York State’s lead when it comes to Bitcoin and crypto regulation. This is a terrible idea.
New York’s Senate just voted to place a two-year moratorium on the bitcoin mining industry preventing new applications and renewals for carbon-based mining.
During Q1 2022, Townsquare Media, a digital media company, purchased $5 million of bitcoin stating that the company believes in bitcoin’s “long-term potential.”
Bitcoiners and politicians come together in Albany, New York to speak out against a proposed ban on proof-of-work mining and to keep industry jobs in the state.
While the next mayor of New York City has promised to be an ally for Bitcoin, the city is right now one of the most hostile locations for cryptocurrency.
