Senator Elizabeth Warren says foreign crypto miners are a threat to national security
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American Senator Elizabeth Warren claimed during a Senate hearing on July 25th that foreign crypto mining facilities could be a threat to national security. Warren also added that crypto mining facilities are loud, hot, and consume a lot of electricity. Also Read: Coinbase seeks court order for SEC to produce Gensler linked docs The senator, who has been openly skeptical of crypto expressed her concerns during a hearing of the Senate Committee on Banking, Housing, and Urban Affairs, stating that the miners are loud, consume a lot of electricity, and serve as a significant threat to America’s national security. She also mentioned that many countries have banned crypto mining due to its environmental hazards. Senator Elizabeth Warren bashes Chinese crypto mining firms in espionage allegations In her speech, Warren referenced a study by a blockchain analytics firm that revealed one-third of crypto mining facilities in the U.S. were operated by Chinese citizens. The senator’s remarks highlighted the national security risks posed by these crypto-mining facilities owned by people believed to have direct links with the Chinese government. “Foreign adversaries are using crypto mines to spy on U.S. military operations. That’s an obvious national security risk.” Senator Elizabeth Warren Assistant Secretary of the Treasury for Investment Security Paul Rosen supported the Democrat Senator by stating the possibility that the mining facilities could serve as espionage centers for foreign adversaries. Senator Warren referred to MineOne, a Chinese mining facility that was established in close proximity to a military base in Wyoming. In May, President Joe Biden issued a 120-day vacation notice to the mining facility to vacate the vicinity over spying concerns. During the committee hearing, Senator Warren also said that crypto-mining facilities significantly affect America’s energy grid system and could potentially serve as centers of operations for targeted blackouts and cyberattacks.…
Filed under: News - @ July 26, 2024 2:30 pm