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US clamps down on Chinese-backed crypto company near nuclear base

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A cryptocurrency company partially owned by the Chinese state is no longer allowed to keep property next to this nuclear missile base in Wyoming. Photo: Mead Gruver / AP / NTB

Of NTB | 14.05.2024 04:50:18

Crime and justice: Biden’s order means that the property must be disposed of and that all equipment that the company MineOne Partners Ltd. has in the area, will be removed.

The company is partly owned by the Chinese authorities. The cryptomining operation is located on a property near the Francis E. Warren Air Force Base (AFB) in the state of Wyoming, where the United States has nuclear missiles.

The decision has been made in the interests of national security. The Ministry of Finance in Washington indicates that it is “specialized equipment of foreign origin with the potential to facilitate surveillance and espionage activities”.

MineOne Partners purchased the property in 2022. The site is less than a mile from the AFB, where Minuteman III intercontinental ballistic missiles are deployed.

Biden’s decision follows an investigation by the Committee on Foreign Investment in the United States (CFIUS). The committee’s investigation has “identified national security risks” related to the ownership of the land near the nuclear missile base, according to the White House.

“Today’s divestiture order underscores President Biden’s steadfast commitment to protecting America’s national security,” says Treasury Secretary Janet Yellen.

(© NTB)

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