On the 13th, President Joe Biden announced a significant decision regarding national security: the United States is prohibiting a Chinese-owned cryptocurrency company from utilizing land adjacent to a strategic nuclear missile base.
The White House clarified that the directive mandates MineOne Partners Limited to divest the land it acquired in 2022. This plot is situated within a mile of the Francis E. Warren Air Force Base (AFB) in Wyoming, home to the Minuteman III intercontinental ballistic missiles.
Biden’s decision stems from an investigation conducted by the Committee on Foreign Investment in the United States (CFIUS), which identified significant national security risks associated with land acquisition near a nuclear weapons base.
CFIUS also expressed concerns regarding the potential installation of cryptocurrency mining equipment on this land, citing the potential for aiding surveillance and espionage activities.
US Treasury Secretary Janet Yellen emphasized the importance of Biden’s action, stating that it underscores his unwavering commitment to safeguarding US national security.
This announcement reflects the Biden administration’s ongoing efforts to prevent Chinese entities from accessing technology deemed vital to national security.
Previously, the administration has articulated its intent to shield the US manufacturing sector from the adverse effects of cheaper Chinese imports while maintaining constructive trade relations in other sectors.
In an earlier statement this year, Biden highlighted China’s ambitions to dominate the automotive market and underscored the risks posed to national security by potential inundation of US markets with Chinese electric vehicles.