New York is the 1st state to prohibit cryptocurrency mining.

New York Gov. Kathy Hochul (D) signed an order on Tuesday temporarily barring cryptocurrency mining in the state due to environmental concerns, making it the first state in the country

The bill was delivered to the governor on Tuesday after the state legislature passed it in June, and Hochul signed it, according to the Associated Press.

The limits follow the bankruptcy of cryptocurrency exchange FTX, which has increased scrutiny of the market.

 the New York law focuses on the technology's environmental impact, imposing a two-year freeze 

on permits for fossil fuel plants used for cryptocurrency mining that use "proof-of-work authentication."

The technology used for Bitcoin and other cryptocurrencies consumes a lot of energy, 

and the law's text implies that its use makes meeting the state's climate goals more difficult.

The law also requires the state's Department of Environmental Conservation to do an environmental impact assessment of mining activities that use the authentication technique.