The United States prohibits Chinese-controlled cryptocurrency mining companies from holding land near nuclear missile bases

ChainCatcher news, according to The Block, U.S. President Biden has ordered the prohibition of a Chinese-controlled cryptocurrency mining company, MineOne Partners Limited, from owning land near a nuclear missile base in Wyoming, and has requested the divestment of related assets.

The U.S. Department of the Treasury stated that MineOne acquired a property just one mile from Francis E. Warren Air Force Base in June 2022 and renovated it to accommodate cryptocurrency mining operations. The Committee on Foreign Investment in the United States (CFIUS) determined after review that the transaction posed national security risks, including potential use for surveillance.

Treasury Secretary Yellen stated that this move demonstrates the Biden administration's strong commitment to protecting U.S. national security and emphasizes the critical gatekeeping role of CFIUS in ensuring that foreign investments do not harm U.S. national security, especially in transactions involving sensitive military facilities and special equipment and technology.