Biden Blocks Chinese Crypto Firm Near US Air Force Base

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As a seasoned crypto investor with a keen interest in geopolitics, I can’t help but be intrigued by this latest development between the United States and China. The news of MineOne Partners Limited being forced to divest land near Wyoming’s Francis E. Warren Air Force Base due to national security concerns is a clear reminder of the complex web of geopolitical risks that can impact our investments in the crypto space.

President Joe Biden has issued an executive decree preventing a Chinese-owned firm from acquiring land close to Wyoming’s Francis E. Warren Air Force Base. The order mandates the transfer of this property for reasons related to national security, specifically addressing concerns over potential surveillance risks posed by the military installation.

As a crypto investor, I was excited when MineOne Partners Limited purchased a property in June 2022 with plans to set up a crypto-mining operation. However, upon closer examination by the Committee on Foreign Investment in the United States (CFIUS), potential national security risks were identified. Consequently, they issued a divestment order for MineOne to sell the property.

Janet Yellen, the Treasury Secretary, emphasized the government’s firm dedication to safeguarding national security. She highlighted the role of the Committee on Foreign Investment in the United States (CFIUS) in scrutinizing potential foreign investments that could pose risks to U.S. military installations. This statement comes as tensions between the U.S. and China heighten, with a trade conflict and national security concerns adding to the tension. Notably, the U.S. has recently imposed new tariffs on Chinese imports.

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2024-05-14 03:00