Plattsburgh has become the first city in the US to ban cryptocurrency mining


Plattsburgh, New York, has become the first city in the US to ban cryptocurrency mining in the city for the next 18 months. The city council unanimously voted to impose the ban at a council meeting last night, and the mayor’s office states that the purpose of the law is to consider “regulations before commercial cryptocurrency mining operations results in irreversible change to the character and direction of the city.”

Plattsburgh mayor Colin Read told Motherboard that the city has the cheapest rates of electricity in the world. Residents pay about 4.5 cents per kilowatt-hour, compared to 10 cents the rest of the country pays on average. Plattsburgh also has an incentive for industrial enterprises, which only pay 2 cents per...

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via The Verge - Tech Posts "http://ift.tt/2tRNQkZ"

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