This is a big week for Governor Kathy Hochul and Senator Kirsten Gillibrand of New York as their proof-of-political-relationship will likely be tested by a proof-of-work (PoW) Bitcoin mining ban for crypto companies using fossil fuels in New York State.
For Governor Hochul, the ongoing Bitcoin mining battle in New York has been brought to her desk for signature as the state senate delivered an early Friday morning rebuke to crypto miners in the Empire state with approval of a 2-year moratorium (see the bill).
Will she sign or won’t she? There is no indication yet. NY’s State Assembly approved the bill on April 26.
Meanwhile, this Tuesday June 7, Senator Gillibrand (D, NY) is expected to join with her Republican co-sponsor, Senator Cynthia Lummis (R, WY), on the most eagerly anticipated bill to ever be introduced in Congress on digital assets and their regulation.
New York Governor Kathy Hochul’s signature or veto must occur within 10 days (as of Friday morning, 6/3) according to legislative rules so that makes “zero hour” Monday, 6/13, at the latest. It seems hard to imagine Governor Hochul stealing Gillibrand’s thunder by signing or vetoing anything until after June 7.
In fact, a discussion is likely happening right now between Senator Gillibrand and Governor Hochul on timing – here’s a sample of their previous coordination and alignment in the past two years:
Continue reading “Will Senator Gillibrand Tell Governor Hochul to Veto Bitcoin Mining Bill This Week?”