By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Crypto > Pennsylvania Rep Revises Energy Bill, Drops Crypto Mining Ban
Crypto

Pennsylvania Rep Revises Energy Bill, Drops Crypto Mining Ban

News Room
Last updated: 2023/10/18 at 2:10 PM
By News Room
Share
2 Min Read
SHARE

Greg Vitali, a member of Pennsylvania’s House of Representatives, has revised an energy conservation bill in the state, opting to drop a proposed two-year ban on crypto mining permits.

The initial Cryptocurrency Energy Conservation Act, introduced by Vitali, included the mining ban as a response to concerns about the substantial energy consumption associated with crypto mining.

However, he has now decided to remove the ban to increase the bill’s chances of advancing, according to a CoinDesk report from Tuesday.

“There is not a high tolerance for strong environmental policy,” Vitali was quoted as saying when asked why the mining ban was dropped.

The amended bill now focuses on introducing reporting requirements for specific crypto mining facilities and requests an impact study from the state’s Department of Environmental Protection.

The revised approach reflects the broader debate about the energy implications of crypto mining, as lawmakers grapple with environmental concerns and the crypto industry’s push for more favorable regulations.

Pennsylvania’s decision follows the example of New York, which imposed a two-year moratorium on new mining facilities that uses carbon-based fuel in 2022.

Long-standing opposition to mining

Vitali has in the past expressed strong opposition to crypto mining, saying in an opinion piece in The Philadelphia Inquirer earlier this year that Pennsylvania should “follow the White House’s lead in regulating the cryptomining industry before it’s too late.”

The state representative further claimed that crypto mining companies in Pennsylvanie are “burning waste coal and fracked gas” to power their operations, and said this “releases massive amounts of harmful air pollutants such as nitrogen oxide and sulfur dioxide.”

Cryptocurrencies that rely on mining for their operation are those that use the proof-of-work (PoW) consensus mechanism.

This includes major coins like Bitcoin (BTC), Litecoin (LTC) and Ethereum Classic (ETC).

Read the full article here

News Room October 18, 2023 October 18, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Why young grads are struggling to find jobs

Watch full video on YouTube

Why the underdog mindset could be your business superpower

Watch full video on YouTube

Sandisk Corporation (SNDK) Presents at Barclays 23rd Annual Global Technology Conference Transcript

FollowPlay Earnings CallPlay Earnings Call Sandisk Corporation (SNDK) Barclays 23rd Annual Global…

Trump’s immigration data dragnet

“I’ve seen the apps and I don’t like them,” says a DHS…

Why Investors Think Loans Are About To Get Cheaper

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

Crypto

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon

By News Room
Crypto

FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?

By News Room
Crypto

Man Utd launch Player Trading Cards digital collectibles and Fantasy United game | 31 July 2024

By News Room
Crypto

Solana Meme Coin Prices Surge – Sealana Raises Over 3 Million

By News Room
Crypto

Can New AI Meme Coin Oracle Meme Surge Like Pepe?

By News Room
Crypto

The Next 100X AI Crypto?

By News Room
Crypto

Argentinian Regulators Talk Bitcoin with El Salvador Authorities

By News Room
Crypto

BitGo’s $100M Suit Against Galaxy Gets Green Light from Delaware Supreme Court

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?