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Supreme Court dismisses petition, filed against crypto mining firm

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Supreme Court dismisses petition, filed against crypto mining firm 4

Crypto mining firm Greenidge Generation secured a favored decision from the Supreme Court of New York. 

The Crypto & blockchain Industry is still a very new thing for this world and few dominant traditional Market players don’t see it as another separate market, where it can contribute hugely to this world. Critics remain active against volatility of crypto-assets price and also environmental issues because of blockchain and data center-based operations. Under this situation, it remains hard for crypto companies to fight against legal matters because not many rules and laws have been made for the crypto sector. 

On 7 April, Greenidge Generation, a crypto mining company, published its press release on the past case, which was filed by a group of environmental activists. 

According to the released report, Greenidge secured a favored decision from the Supreme Court of New York. According to the Supreme Court, the proof provided against the crypto mining company was not enough to prove that the company is responsible for environmental impacts and unfair rapid expansion of operations. 

Filed petitioners claimed that the Company is planning to expand its operations capacity by around three times by the end of this year in Yates County Town. 

“Petitioners have failed to establish that they would suffer an environmental injury different from that suffered by the general public.”

The Supreme Court judge noted that no one of the petitioners was close to more than 2,000 feet from the operations site of the company. Instead, the company is following all the provisions to ensure the protection of the environment from its operations. 

Greenidge Generation also noted that it was the 5th unsuccessful legal attempt by such types of people, who were against the expansion of the operations plan of the company. So the company indirectly hinted that its compliance and rules-based works will favor the expansion of its operations.

Read also: CBDC could impair the transmission of monetary policy, says ECB

Supreme Court dismisses petition, filed against crypto mining firm

 

https://bitcoinik.com/supreme-court-dismisses-petition-filed-against-crypto-mining-firm/feed/

https://bitcoinik.com/supreme-court-dismisses-petition-filed-against-crypto-mining-firm/feed/

 

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