TheCryptoUpdates
Bitcoin Bitcoin News BTC News Crypto Cryptocurrency News Finance General News News Trading Trading News Twitter

Michael Saylor is Concerned About the New Proposed Regulation of Bitcoin Energy in New York

Michael Saylor is Concerned About the New Proposed Regulation of Bitcoin Energy in New York

Michael Saylor, CEO of Microstrategy and a Bitcoin advocate, tweeted his concerns about the proposed regulation of bitcoin energy use in New York. 

According to him, the regulation is dangerous for the environment as well as for the overall economy and reputation of New York.

He said that this regulation demonstrates how the law can be manipulated maliciously to harm a competitor.

He asked everyone to speak up on the matter if it disturbs them and report it to the NY Senate.

The New York State Assembly recently enacted legislation (A.7389-C/S.6486-C) that will put a halt to proof-of-work mining activities in the state and set a hazardous precedent for other states to follow.

The planned embargo will have a wide-ranging detrimental impact on the digital asset sector and its future. 

Not only would it harm New York’s innovative economy, but it would also kill crucial green jobs, many of which are held by union members.

Furthermore, it jeopardizes America’s position as a worldwide leader in the digital asset sector at a key moment in our business.

***

Related Articles

Gold Vs Cryptocurrency Investment: Which Is Better?

Ahmad

Crypto Listing on Cryptocurrency P2PB2B

Event Manager

BlaBlaGame: GameFi games will strive to simplify

Vanshit