Tuesday, 18 June 2024
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CryptoCrypto Regulations

The Greenville City Council 2024 is about the future of cryptocurrencies

  • The Greenville City Council discussed the city’s plan to change an ordinance that would have allowed cryptocurrency mining.
  • In Greenville, the ordinance was imposed in 2022 and establishes regulations for crypto farms and data processing.
  • The impact of mining cryptocurrencies on the city and its profitability was questioned by locals Bob-Hudak.

At its first meeting in 2024, the Greenville City Council discussed the city’s plan to change an ordinance that would have allowed cryptocurrency mining.

A sports complex facility’s second phase was considered by the council, which also awarded building contracts for the Greenville Gateway sign. Since Greenville lacked adequate facilities for many competitions, the council was worried about the state of the city’s infrastructure.

Greenville City Council 2024

In Greenville, the ordinance was imposed in 2022 and establishes regulations for crypto farms and data processing. The council is thinking about changing it to better serve the community or leaving it as is, according to Commissioner Marion-Blackburn. The impact of mining cryptocurrencies on the city and its profitability were questioned by locals Bob-Hudak.

People from the community lobbied for the amendment to ban cryptocurrency mining from Greenville, claiming that it would not be profitable for the city or the neighborhood.

The community’s comments highlighted the necessity of eliminating the drawbacks of cryptocurrency mining, like noise pollution and electricity consumption, without doing away with the entire ordinance that establishes standards for data processing.

The resolution to have staff compile a report educating the public and council members to consider drafting a text change to amend this law was ultimately approved. Without repealing the entire legislation, the city council wants to find a method to end cryptocurrency farming and its detrimental consequences on the neighborhood.

Several items on the agenda were authorized by the council, including the Sublease Agreement for VIPER Tower Equipment with the State of North Carolina; Accepting the Dedication of Rights-of-Way and Easements for the Arbor Hills South Cluster Subdivision; Resolution and Deed of Release for the Abandonment of a 10′ Wide Electrical Easement Across Tax Parcel No. 73527; Ordinance Adopting the Capital Project Budget for the Wastewater Treatment Plant Clarifier Project by the Greenville Utilities Commission; Ordinance Amending and Reimbursement Resolution for the Same; and Resolution Designating Police Canine Suny as Surplus and Providing Officer Nathan Lather with Authority to Use Him.

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