NY bitcoin mining ban ‘stifling’ crypto investments: CEO
State passing bitcoin mining ban marks ‘thin end of the wedge’ for more regulation, White Rock Management CEO says
White Rock Management CEO Andy Long argues that lawmakers passing a ban on crypto mining is the ‘thin end of the wedge’ for further government regulations.
After lawmakers in New York passed legislation that would put a two-year ban on proof-of-work cryptocurrency mining, White Rock Management CEO Andy Long argued the move will stifle investments and isolate the state from the crypto community on "Mornings with Maria" Tuesday.
ANDY LONG: My belief is that Governor Hochul will not pass it into law. Her team is looking at this bill for the next several months, she said. The problem is it's a thin end of the wedge. As soon as state starts to dictate what you can do with your own computing hardware or what you can do with your own energy, it opens the door to more and more regulation. And we think actually states should be encouraging investment rather than stifling it.
CRYPTO BILLIONAIRE URGES CLARITY ON INDUSTRY REGULATION
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White Rock Management CEO Andy Long says the bitcoin market is adjusting to its level of interest in the U.S.