New York Passed a Bill Banning Bitcoin Mining Operations

Albany, NYOn Friday, New York lawmakers passed a bill banning crypto mining operations that utilize carbon-based power sources. If this bill becomes law there will be a two-year prohibition on cryptocurrency mining operations. The bill is now before Governor Kathy Hochul who can either sign or veto it.

According to Perianne Boring, the founder and president of the Chamber of Digital Commerce, this bill would make New York the first state in the country to ban blockchain technology infrastructure.

As explained in the bill, the state of New York implemented the Climate Leadership and Community Protection Act to help regulate and improve the future of the environment. Since cryptocurrency mining operations require a great deal of energy, a new section of the environmental conservation will be added. It states that new applications, new permits and the renewal of existing permits will not be approved “…for an electric generating facility that utilizes a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by a cryptocurrency mining operation that uses proof-of-work authentication methods to validate blockchain transactions…”

Boring mentioned how the bill could have a negative impact on the economy of the state. “Bitcoin mining operations are providing high-paying and high-grade, great jobs for local communities. One of our members, their average pay is $80,000 a year.”

Boring further addressed how New York is a leader when it comes to state legislation. Whether the rest of the country is going to try and copy New York’s lead in this industry is another topic of discussion.

Others in the crypto space are not happy with the possible new law. Former executive director of the Bitcoin Foundation, Bruce Fenton, tweeted, “No government has the right to tell you what software to run.”

Vitalik Buterin, Ethereum founder, agreed with Fenton’s tweet and replied with, “The government picking and choosing which specific applications are an okay use of electricity or not is a bad idea. Better to just implement carbon pricing, and use some of the revenues to compensate low-income users.”

Commercial Lender, MCA Provider to Use Bitcoin as Collateral in New Lending Product


In California, License no. 60 DBO77905 authorizes Digital Power Lending (DPL) to make commercial loans in the state. Offering everything from merchant cash advances to equipment financing, and more, DPL is one of many companies working to provide capital to small businesses.

But DPL stands out for two reasons. First, the company’s founder and executive chairman, Milton “Todd” Ault III, has more than 100,000 subscribers on his youtube channel. Second, DPL plans to fund up to $100 million in commercial loans secured by Bitcoin, according to a recent announcement. Planning to lend in the individual range of $1 million to $25 million, DPL says that the program “will allow the borrower to repay a loan using various methods including cash, Bitcoin, or, in the case of convertible promissory notes, common stock of the borrower.”

“The Company’s objective is to allocate a total of $250 million in capital to DP Lending, including the $100 million in Bitcoin,” the company states.

Ault explained, “From my many years of financing companies, I know all too well the challenges faced by these aspiring entrepreneurs and employers. It strikes me as a natural progression of the Company and its subsidiaries to join to provide a new unique source of capitalization and to assist in their growth while creating a new revenue stream in a very positive and mutually beneficial way.”

Online Checkout With Bitcoin – deCashed Event Tips

How simple is an online checkout with Bitcoin? In this example, we avoid connecting our Coinbase account directly to make the point that your bitcoin could originate from anywhere to complete a deCashed Event registration. So if you’ve got a Coinbase Wallet or some other digital bitcoin wallet, the below guide will still apply. That’s because the two most important things are that you send the bitcoin to the right address and that you send the correct amount. Copying and Pasting is key.

Despite Bukele Bailing, Bitcoin 2022 is in Full Swing


Despite losing one of their most noteworthy speakers in the departure of El Salvadorian President Nayib Bukele, Bitcoin Magazine’s largest event of the year has compensated with a star-studded lineup of speakers and panels that have been able to set the tone on the makeup of the types of influential figures that have thoughts on digital assets.

David Bailey, CEO of BTC Inc welcomed old and new faces alike to kick off the event, making mention of what he perceived as some of the newest groups of attendees at the conference. In his opening remarks, Bailey gave personal welcomes to the IRS, DOJ, and Department of Homeland security.

“Welcome to the biggest financial freedom conference in the world,” Bailey told the crowd.

Companies making note in the opening days of the event were Cashapp, who announced they want to “redefine” consumer relationships with Bitcoin. Their Crypto Product Lead Miles Suter spoke to attendees about how access to digital assets can help individuals who are facing existential, political, or regional crisis achieve personal and financial freedom.

“I’ve always dreamed of Bitcoin taking off with those that need it the most,” said Suter. “Those that have traditionally been left out, who have to flee war, or authoritarian states, or suffer from raging inflation.”


I saw the power that Bitcoin was having on local communities,” he continued. “I also got to observe the challenges that come with introducing bitcoin to a country where 70% is unbanked.”

Michael Saylor, the tech phenomenon who has made a name for himself among Bitcoin connoisseurs was said to draw approximately 40,000 people to hear him speak. He told the crowd that people were “dancing on my grave” when Bitcoin fell from its highest point. He even told the crowd that there was a point in time he thought he would be removed from his company.

Other speakers at the event include professional athletes Serena Williams, Odell Beckham Jr, and Strike CEO Jack Mallers. Robinhood has an announcement planned for Thursday afternoon announcement prior to a keynote speech by Peter Thiel.

Follow @deCashed on Twitter for all of the latest updates on the event.