Buterin Criticizes Moratorium BTC Mining in New York

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Ethereum co-founder Vitalik Buterin has joined in the criticism of New York State’s moratorium on carbon-based electricity mining.

According to him, the authorities of the state should not choose “which specific applications” can consume energy. He has written:

“Government choosing which specific applications can use electricity and which can’t is a bad idea. It’s better to just introduce a commission on carbon emissions and use part of the proceeds to compensate low-income consumers.”

The New York State Senate approved last June 3 a two-year moratorium on mining cryptocurrencies using electricity generated from carbon sources.

Operating companies or those in the process of obtaining permission to mine digital assets will be able to continue to operate. Over the course of a two-year period, the authorities plan to study the potential environmental impact of Proof-of-Work crypto mining.