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Following the recent decision of the United States to release a law to regulate cryptos and crypto-related activities, there has been a series of comments. One such related activity is the mining of Bitcoin.
Recently, the Mayor of New York City, Eric Adams, made known his displeasure concerning the mining of cryptocurrencies. This did not go well with several Bitcoin community members who wasted time bashing him for his hypocrisy.
Adams has always been in favor of the cryptocurrency ecosystem. His recent outburst left the crypto community in bewilderment and shock. According to him, he supports digital currencies but not the mining of digital currencies.
This statement was given in a budget meeting held in Albany with other elected officials in attendance.
Lawmakers React To The Issue
Several lawmakers have commented on the remark for the Mayor regarding his disapproval of mining activities. One of such legislators is the member of the NY Assembly, Anna Kelles.
Dr. Anna kelles referred to crypto mining as an activity that damaged the environment instead of adding value. She lauded the Mayor for taking a clear stance between digital currencies and mining activities. Kelly stated that the City of New York would be a crypt capital but won’t get entangled with mining activities.
U.Today reported that the Mayor would accept his first salary in office in BTC and ETH. Also, he vowed to turn New York into a cryptocurrency state. New York is known for its negative regulation; it would not be easy for Adams to achieve this.
Reaction Of The Crypto Society
Several Bitcoiners came for the Mayor’s head, labeling his comment as “shameful.” Many argued that it was impossible to be a supporter of cryptocurrency and then oppose mining activities
The Guardian of the Seneca Lake reacted positively to the remarks of Adams by stating. Mining of Bitcoin mining might cost the City of New York millions in the area of energy bills while also poisoning the air with carbon monoxide, poisoning water reserves, and halting businesses.
Kazakhstan is already having issues with miners, considering how their electricity tariff and fuel price have risen drastically in the past months. New York may face a similar fate if they allow such activities in their states. Perhaps, these are the Mayor’s concerns when he voiced his displeasure on the matter.
This week, Russia has given the green light to digital currencies and mining activities. All miners and crypto institutions are to register with the government.
Will the Mayor go back on his statement given the recent backlash? Let’s see how matters unfold in the coming months.
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