The post Crypto miners near any U.S. Military Base fall under CFIUS scrutiny appeared on BitcoinEthereumNews.com.

The U.S. Treasury Department has finalized a rule to tighten scrutiny on foreign property near military installations, which affects crypto mining. This comes after the United States president weighed in to stop a China-tied crypto operation near a nuclear missile base. According to an official report, international real estate deals near key US military bases will now face enhanced government inspection under a new law. MineOne was in the process of being acquired by the US firm CleanSpark (CLSK) when it encountered national security concerns raised by the Committee on Foreign Investment in the United States (CFIUS). CFIUS and the U.S. Department of Defense have issued that final rule to “foreign persons near more than 60 military bases and installations across 30 states.” According to Secretary of the Treasury Janet L. Yellen:  “The Biden-Harris Administration will continue to use our strong investment screening tools to advance America’s national security and protect our military installations from external threats […] This final rule will allow us to deter and stop foreign adversaries from threatening our Armed Forces, including through intelligence gathering.” Janet L. Yellen “Today’s final rule is a significant milestone in safeguarding critical U.S. military and defense installations,” said Assistant Secretary for Investment Security Paul Rosen.  As per the statement sent out by the US Treasury Department, the final rule enhances CFIUS’s authorities through the following key changes: First, it expands CFIUS’s jurisdiction over certain real estate transactions to include those within a one-mile radius of 40 new military facilities. Then, it expanded CFIUS’s authority over certain real estate transactions to include those within a 100-mile radius of 19 more military facilities. In addition, CFIUS’s jurisdiction runs over certain real estate transactions between 1 mile and 100 miles around eight military installations already listed in the regulations. Lastly, it has been…

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Filed under: News - @ November 2, 2024 8:25 am