New York City’s Mayor Eric Adams spoke out on Monday against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years.

The bill is designed to place a two-year moratorium on proof-of-work (PoW) crypto miners who do not use 100% renewable energy. At the same time, New York state’s environmental agency is investigating the effects of mining on the environment. The bill passed on June 3 in the State Assembly and now awaits Governor Kathy Hochul’s signature to become a law.

Mayor Adams told Crain’s on Monday that he intends to request Governor Hochul veto the bill due to the economic damage it will cause the state’s people. Mayor Adams has been a frequent proponent of the crypto industry, previously accepting Bitcoin (BTC) instead of cash for his salary payments.

He now stands with miners against the bill, stating that “we can’t continue to put barriers in place” for miners who wish to help bolster the state’s economy with the “billions of dollars that are spent on cryptocurrency” in the state:

“I’m going to ask the governor to consider vetoing the bill that is going to get in the way of cryptocurrency upstate.”

Supporters of the bill, such as the original sponsor Assembleyperson Anne Kelles, are worried that…

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