The State of New York was at the forefront of regulatory efforts regarding crypto on 26 April, when its Assembly declared it to be. A two-year moratorium was voted inOn crypto mining operations using energy from fossil fuel power plants. Depending on how one looks at it, this development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry’s movement toward a more sustainable path.

Assembly, the lower chamber of NY’s state legislature passed legislation that placed a 2-year moratorium on new mining operations that use the Proof-of-work consensus mechanism. It also placed a hold on renewal of permits.