Michael Saylor: New York’s Proposed Bitcoin Law is Damaging to the Environment, Reputation and Economy of the State

2 years ago

Quick summary:

Microstrategy CEO, Michael Saylor, has said that the projected Bitcoin and crypto regularisation based connected vigor usage successful New York is damaging to the environment, reputation, and system of the state
Mr. Saylor sees the projected measure arsenic a objection of however the instrumentality tin beryllium manipulated maliciously
He has besides requested his Twitter followers to fto the New York Senate cognize that the measure has galore antagonistic consequences

Microstrategy CEO Michael Saylor has chimed successful connected the projected instrumentality by legislators successful the State of New York to prohibition proof-of-work mining operations connected the premise that specified activities are detrimental to the environment.

According to Mr. Saylor, the projected regularisation ‘is damaging to the environment, estimation and system of the authorities of New York. Furthermore, the projected authorities demonstrates however ‘the instrumentality tin beryllium manipulated maliciously to harm a competitor.’

The projected regularisation of #Bitcoin vigor usage successful New York is damaging to the environment, estimation & system of NY and demonstrates that the instrumentality tin beryllium manipulated maliciously to harm a competitor. If this disturbs you, delight fto 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 concern of the projected measure to prohibition proof-of-work mining successful New York done Twitter. He besides urged his societal media followers connected the level to fto the New York Senate cognize that the measure was not a bully idea.

He shared a nexus to an online petition by the Chamber of Digital Commerce that reiterated that if the measure went through, it would acceptable a unsafe president for different states to follow. Consequently, it would person galore adverse effects connected the full integer plus abstraction and America’s lasting arsenic a person successful the industry.

The petition said:

The New York State Assembly precocious passed authorities (A.7389-C / S. 6486-C) that would make a moratorium connected proof-of-work mining operations successful the authorities and found a unsafe precedent for different states crossed the state to follow.

The projected moratorium would person galore antagonistic consequences for the integer plus manufacture and its future. Not only would it importantly hinder New York’s innovation economy, but besides it would destruct important greenish jobs, galore of which are filled by Union employees.

Further, it threatens America’s lasting arsenic a person successful the planetary integer plus marketplace astatine a captious juncture for our industry.

How to Notify the New York Senate That the Bill is Harmful to the Crypto Industry

The petition outlines the pursuing ways successful which the crypto assemblage tin help.

Emailing the Senate Leadership done this link to inquire them to ballot NO to the bill
Contact the NY Senate Leadership to inquire them to ballot NO. Their contacts are

Senate Majority Leader Andrea Stewart-Cousins: (518) 455-2585, [email protected]
Senate Deputy Majority Leader Michael Gianaris: (518) 455-3486, [email protected]
Senate Finance Committee Chair, Senator Liz Krueger: (212) 490-9535, [email protected]
Economic Environmental Conversation Committee Chair, Senator Todd Kaminsky: (516) 766-8383, [email protected]