- According to Treasury, the property was purchased by China-owned MineOne Partners Limited in June 2022, and modifications were done to allow for the operation of a cryptocurrency mining business.
- According to Treasury, there were hazards to national security, including issues with surveillance.
Citing worries about potential threats to national security, President Joe Biden issued an order preventing a cryptocurrency mining company with a majority Chinese ownership from owning land adjacent to a Wyoming Air Force base.
According to a statement issued by the U.S. Treasury Department on Monday, Biden additionally demanded the property’s disposal.
The site is located one mile away from the missile installation Francis E. Warren Air Force installation. According to Treasury, the property was purchased by China-owned MineOne Partners Limited in June 2022, and modifications were done to allow for the operation of a cryptocurrency mining business.
According to Treasury, the Committee on Foreign Investment in the United States examined the deal and discovered threats to national security, including issues with surveillance.
Treasury Secretary Janet Yellen stated in a statement that President Biden’s unwavering commitment to preserving American national security is further demonstrated by the divestiture order issued today.
It also emphasizes the crucial gatekeeping role that CFIUS plays in ensuring that foreign investment does not jeopardize our national security, especially when it comes to deals involving specialized technologies and equipment and those that pose a risk to sensitive U.S. military installations.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
