A fight is brewing between a cryptocurrency mining firm in Niagara Falls, New York and city regulators. The city wants the enterprise shut down, while the facility is working hard to keep its license in play so it can continue its business. The company in question is called Block Fusion, and it’s been working for many years in an old industrial site on Frontier Avenue. Block Fusion Is Engaged in a Crypto Lawsuit New York has not been a kind region to crypto companies. The state recently implemented a crypto mining moratorium that would prevent all mining companies from entering its borders and setting up shop there over the next two years if they do not operate fully on clean energy. There are now many individuals in the New York government working hard to expand the
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A fight is brewing between a cryptocurrency mining firm in Niagara Falls, New York and city regulators. The city wants the enterprise shut down, while the facility is working hard to keep its license in play so it can continue its business. The company in question is called Block Fusion, and it’s been working for many years in an old industrial site on Frontier Avenue.
Block Fusion Is Engaged in a Crypto Lawsuit
New York has not been a kind region to crypto companies. The state recently implemented a crypto mining moratorium that would prevent all mining companies from entering its borders and setting up shop there over the next two years if they do not operate fully on clean energy. There are now many individuals in the New York government working hard to expand the moratorium and have it last longer.
New York’s attorney general Leticia James is also working hard to bring lawsuits against several crypto companies that allegedly took part in fraudulent activity.
William Rossi – the attorney hired to represent Block Fusion – says the company ceased all its operations last November given it was allegedly in violation of new industry zoning codes. However, since then, the company has filed an application with the city for an operating permit under the new regulations. Block Fusion alleges it has been following all the new forms of legislation, but the application has still not been acted upon.
According to Rossi, the application should have been approved no later than 15 days after it was filed. He explained:
It’s not my practice to show up unscheduled, but I would have expected a firm (hearing) date by now… It’s important to them to do this right. I would be willing to cooperate in any way possible.
Due to the inaction, Block Fusion has since filed a lawsuit against the city claiming the present zoning code changes are unlawful and designed to specifically harm companies like itself. It also said that it should be allowed to stay in operation while its application is being considered. Rossi said:
It’s not our intention (to have to challenge the law). If we could have an opportunity to demonstrate our compliance (with the law), we would appreciate that.
Things Could Have Gone Better
Rossi is not the only person who thinks Block Fusion is getting a bad rap. Former Falls City Council Chair John Spanbauer recently stated that the region needs to do a better job of handling the firm’s application. Robert Restaino – mayor of the city – recently mentioned:
Everybody is kind of watching this. We’re wanting to make sure Block Fusion gets across the finish line because it shows our (new) statute works. (City lawyers) are moving as quickly as possible, but we’re moving carefully, and we’re hoping for a pleasant conclusion.