New York's crypto mining restrictions are the first in the nation

Cryptocurrency mining companies hoping to set up shop in New York State may bump into some limits. Governor Kathy Hochul has signed legislation restricting crypto mining in the country, making it the first state to clamp down on the practice. The environment-focused law establishes a two-year freeze on new and renewed air permits for fossil fuel power plants used for mining that uses demanding "proof-of-work" authentication. The Department of Environmental Conservation will also have to study if and how crypto mining hurts the government's climate change mitigation efforts.