Digital Currency Group (DCG) CEO Barry Silbert expressed doubt over the company’s New York expansion if a crypto mining ban became law.
DCG- which owns asset manager Grayscale, is preparing to build its second massive office in Buffalo, New York. However, it seems the plans will be dropped as the New York Senate has passed a bill with a two-year moratorium on new permits for certain power plants involved in crypto mining.
DCG’s Barry Silbert Calls to Prevent Crypto Mining Ban
Digital Currency Group (DCG) claims to be one of the largest employers in New York State, with more than 150 employees in Rochester. Moreover, the company is planning to build a massive office in Buffalo amid growing demand from clients. DCG is the parent company of top crypto firms including Grayscale, Genesis Trading, and Foundry.
Commenting on the impact of the crypto mining ban, Barry Silbert said:
“We’re one of the biggest employers in western NY with 150 employees in Rochester and we’re building a second massive office in Buffalo. This moratorium bill is a job killer and sends a terrible message to crypto entrepreneurs. If this moratorium bill passes, I don’t think we will be.”
