Biden bans Chinese-backed cryptocurrency miners from owning land near U.S. missile bases
President Joe Biden has issued an order banning a majority-Chinese-owned cryptocurrency mining company from owning property near an Air Force base in Wyoming, citing national security risk concerns.
Biden also called for the sale of land one mile from the missile base at Francis E. Warren Air Force Base, AFP reported. name It was released Monday by the U.S. Treasury Department. The Treasury said MineOne Partners Limited, majority owned by China, acquired the property in June 2022 and altered it to make room for a cryptocurrency mining operation.
The Committee on Foreign Investment in the United States reviewed the transaction and found national security risks, including surveillance concerns, according to the Treasury Department.
“Today’s divestment order underscores President Biden’s unwavering commitment to protecting America’s national security,” Treasury Secretary Janet Yellen said in a statement. “It also highlights the important gatekeeping role CFIUS plays in ensuring that foreign investment does not undermine our national security,” she said. , especially as it involves transactions that pose risks to sensitive U.S. military facilities, as well as transactions involving specialized equipment and technology.”
MineOne did not immediately respond to a request for comment.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.
