Buncombe County’s plan to halt bitcoin mining for a year would be the latest setback for an industry facing regulatory pressures.
Buncombe County commissioners are pushing a plan to impose a year-long pause on Bitcoin and cryptocurrency mining in the North Carolina county, citing concerns about its impact on the environment and the community according to reporting by WLOSABC13.
Currently, county ordinances do not define cryptocurrency mining as a specific use, prompting officials to consider temporarily halting the activity while regulations are developed.
A public hearing has been scheduled for May 2 to discuss the proposed moratorium, giving the community an opportunity to share their views on the matter.
The increase in mining operations across the United States has raised concerns among critics about the environmental impact of the activity. A Texas Senate committee recently hosted a hearing on legislation that would limit energy deals used by Bitcoin miners, as well as stop favorable tax legislation. This legislation approved through the Senate committee, bringing it one step closer to reality.
US Bitcoin Corp, a Bitcoin mining company operating in Niagara Falls, also recently reached a tentative agreement with the city to resume operations after the facility was halted by a state supreme court judge’s ruling.
Along with fines and legal fees, the miner would be forced to comply with noise ordinances and other regulations designed to limit the facility’s impact on the surrounding community.
