Another US City Imposes a Moratorium on Crypto Mining

2018-8-11 16:20

The city of Salamanca in the U.S. state of New York is reportedly establishing a moratorium on cryptocurrency mining operations in the city. This will stop crypto miners from “using up all the residents’ power and effectively make all of them get a price increase on their utility bills,” a member of the city’s council explained.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

City Council Voted for a Moratorium

The Common Council of the city of Salamanca in New York voted unanimously on Wednesday to approve Local Law No. 2 for 2018 and impose “a moratorium on commercial cryptocurrency mining operations in the city,” the Salamanca Press reported.

The news outlet described that according to the local law:

A moratorium would temporarily stop applications or proceedings, or the issuance of approvals or permits, for cryptocurrency mining operations in the ‘electric service area’ of the city of Salamanca.

The purpose of this moratorium is for the city to have “the opportunity to consider zoning and land use laws and municipal electric department regulations before commercial cryptocurrency mining operations result in [an] irreversible change to the character and direction of the city,” the publication conveyed. A public hearing on the local law will be held on September 12.

Buying Time to Set Rules

Salamanca council member Timothy Flanigan, who sits on the city’s Board of Public Utilities (BPU), explained that the BPU “does not yet have all the rules and regulations in place to properly deal with cryptocurrency operations.” Citing the sheer amount of energy crypto mining uses, he added that “this moratorium buys the city time to get rules in place without a blow to the electric system.”

Emphasizing the need to ensure that residential customers continue to have cheap power, he elaborated:

The thing that this [moratorium] will do is devoid people of using up all the residents’ power and effectively make all of them get a price increase on their utility bills because somebody else is using up all the cheap power.

A few other cities in the U.S. have introduced similar measures. In March, commissioners of a power district in Washington State’s Chelan County launched “an emergency moratorium on new high-density load hookups to give staff time to develop a plan for dealing with the demand for electricity from digital currency miners.” In the same month, the City Council of Plattsburgh, New York, adopted a local law prohibiting mining operations in the city, as news.Bitcoin.com reported.

Another small town in upstate New York, Massena, had a similar concern in July. The city’s regulators decided to charge crypto miners a higher rate for energy instead of imposing a moratorium.

What do you think of cities imposing moratoriums on crypto mining? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post Another US City Imposes a Moratorium on Crypto Mining appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Swarm City (SWT) íà Currencies.ru

$ 0.0273215 (+0.52%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 1.01 %, 7d: 3.66 %
Cåãîäíÿ L: $0.027122 - H: $0.0273215
Êàïèòàëèçàöèÿ $0 Rank 8631
Öåíà â ÷àñ íîâîñòè $ 0.3007 (-90.91%)

city mining moratorium crypto all another imposes

city mining → Ðåçóëüòàòîâ: 19


Ôîòî:

Bitcoin Mining Firm Opens Massive Farm In Canada Despite Declining Prices

On July 16th, Hut 8, one of Canada‘s foremost Bitcoin mining firms, announced that the construction of its newest mining facility was complete. The press release issued by the company states that its new Bitcoin mining facility, located in the small Canadian city of Medicine Hat, has been recently completed, including the recent electrification of […] The post Bitcoin Mining Firm Opens Massive Farm In Canada Despite Declining Prices appeared first on Ethereum World News.

2018-7-20 00:12


Ôîòî:

One Million PCs “Cryptojacked” in China as Hackers Make $2 Million Worth of Digibyte, Siacoin, and Decred

The largest cryptojacking breach, in terms of sheer scale, came to light in China after local authorities identified a group of hackers who ran an illicit mining operation for over two years. Largest Cryptojacking Breach On July 9, 2018, local news Legal Daily reported a massive cryptojacking spree of a group in China’s Dalian city after suspicious activities pointed to.

2018-7-12 04:00


Ôîòî:

Love is like a garden! Neglected and rotten growth creeps, well-developed and flourishes in abundance. Do not always get love. Love must work together daily!

Cryptocurrency mining malware that infected over a million computers in China reportedly earned its creators more than $2 million over two years. According to a local news report on Monday, police in China’s Da Lian city have arrested 20 suspects from a computer technology firm who allegedly gained control of the large number of computers

2018-7-9 14:46