Crypto Controversy

Crypto Controversy. Industry lobbyists are urging Hochul to veto a 2 year moratorium on crypto mining. The ban passed the legislature and has been sent to the Governor. Environmentalists are pressing for enactment out of concern for energy consumption used in the mining process. They focus on emissions from power plants that generate electricity from fossil fuels. The measure creates a dilemma for Hochul, pitting the 2 powerful camps against each other. She has to choose among them in an election year. While purporting to be environmentally friendly, she can not risk alienating the Wall Street community that invests heavily in bitcoin. Like her predecessor Cuomo she is beholden to Big Money. Crypto Controversy. The resolution will tell a lot about where her priorities lie !!