Shortly before the Thanksgiving holiday, Governor Kathy Hochul signed into law a new temporary moratorium on certain types of cryptocurrency mining at fossil fuel power plants.
A year ago, newly elected Mayor Eric Adams pledged to make New York the center of the cryptocurrency industry, taking his first paychecks in bitcoin and ethereum, two of the virtual currencies the most important.
But now financial regulators and the New York Congress are weighing new regulations on the industry, as concerns grow over the future of cryptocurrency.
Cryptocurrency billionaire Brock Pierce joined Errol Louis on “Inside City Hall” Thursday to discuss the state of the industry and offer his perspective.
Disclosure: Juanita Scarlett, wife of “Inside City Hall” host Errol Louis, is a lobbyist for cryptocurrency firm Coinbase.
