The Senate Bill S6486D establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.

TITLE OF BILL: An act to amend the environmental conservation law, in relation to establishing a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain trans- actions; and to require a comprehensive generic environmental impact statement review

PURPOSE OR GENERAL IDEA OF BILL: To establish a moratorium on air permit issuance and renewal for elec- tric generating facilities that utilize a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; and require completion of a comprehensive generic environmental impact study of cryptocurrency mining operations using proof-of-work methodology in the State of New York in the context of the Climate Leadership and Community Protection Act (CLCPA) goals established in statute in 2019.