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Shortly before the Thanksgiving holiday, Gov. Kathy Hochul signed into law a new temporary moratorium on certain kinds of cryptocurrency mining at fossil fuel plants.
A year ago, newly elected Mayor Eric Adams vowed to make New York the center of the cryptocurrency industry, taking his first few paychecks in bitcoin and ethereum, two of the most prominent virtual currencies.
But now New York financial regulators and 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: “Inside City Hall” host Errol Louis’ wife Juanita Scarlett is a lobbyist for the cryptocurrency company Coinbase.
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