- Microstrategy CEO, Michael Saylor, has stated that the proposed Bitcoin and crypto regulation primarily based on power use in New York is damaging to the surroundings, repute, and economic system of the state
- Mr. Saylor sees the proposed invoice as an indication of how the regulation might be manipulated maliciously
- He has additionally requested his Twitter followers to let the New York Senate know that the invoice has many unfavorable penalties
Microstrategy CEO Michael Saylor has chimed in on the proposed regulation by legislators within the State of New York to ban proof-of-work mining operations on the premise that such actions are detrimental to the surroundings.
Based on Mr. Saylor, the proposed regulation ‘is damaging to the surroundings, repute and economic system of the state of New York. Moreover, the proposed laws demonstrates how ‘the regulation might be manipulated maliciously to hurt a competitor.’
The proposed regulation of #Bitcoin power use in New York is damaging to the surroundings, repute & economic system of NY and demonstrates that the regulation might be manipulated maliciously to hurt a competitor. If this disturbs you, please let the NY Senate know.https://t.co/h4gec4qOVX
— Michael Saylor⚡️ (@saylor) May 4, 2022
Please Let the New York Senate Know – Michael Saylor
Mr. Saylor shared his insights into the state of affairs of the proposed invoice to ban proof-of-work mining in New York via Twitter. He additionally urged his social media followers on the platform to let the New York Senate know that the invoice was not a good suggestion.
He shared a hyperlink to an online petition by the Chamber of Digital Commerce that reiterated that if the invoice went via, it will set a harmful president for different states to comply with. Consequently, it will have many antagonistic results on your entire digital asset area and America’s standing as a frontrunner within the business.
The petition stated:
The New York State Meeting lately handed laws (A.7389-C / S. 6486-C) that may create a moratorium on proof-of-work mining operations within the state and set up a harmful precedent for different states throughout the nation to comply with.
The proposed moratorium would have many unfavorable penalties for the digital asset business and its future. Not solely would it not considerably hinder New York’s innovation economic system, but additionally it will get rid of necessary inexperienced jobs, a lot of that are crammed by Union workers.
Additional, it threatens America’s standing as a frontrunner within the world digital asset market at a important juncture for our business.
Find out how to Notify the New York Senate That the Invoice is Dangerous to the Crypto Trade
The petition outlines the next methods through which the crypto group can assist.
- Emailing the Senate Management via this link to ask them to vote NO to the invoice
- Contact the NY Senate Management to ask them to vote NO. Their contacts are
Senate Majority Chief Andrea Stewart-Cousins: (518) 455-2585, [email protected]
Senate Deputy Majority Chief Michael Gianaris: (518) 455-3486, [email protected]
Senate Finance Committee Chair, Senator Liz Krueger: (212) 490-9535, [email protected]
Financial Environmental Dialog Committee Chair, Senator Todd Kaminsky: (516) 766-8383, [email protected]
- Name New York State Senators on to allow them to know your ideas and opinion on the invoice