The Crypto Roundup: 14 May 2024 |

The Crypto Roundup: 14 May 2024 |

Source Node: 2577980

The US has ordered a Chinese cryptocurrency mining company to divest property it acquired near a Wyoming Air Force base that houses intercontinental ballistic missiles, calling the firm a national security threat.

The company, MineOne Partners, and its affiliates “might take action that threatens to impair the national security” of the United States, the White House said in an executive order. The firm must sell the real estate it purchased in 2022 near the F.E. Warren Air Force Base, which houses nuclear weapons.

The move comes amid growing wariness in Washington about Chinese investment near sensitive military installations. Federal and state officials have expressed concerns surrounding a perceived pattern of Chinese companies acquiring land in close proximity to U.S. bases, with lawmakers in several states having introduced legislation that would restrict or ban such purchases by Chinese entities.

The Committee on Foreign Investment in the United States (CFIUS), an interagency panel that reviews foreign acquisitions for potential national security risks, has determined that MineOne’s land purchase posed a threat after conducting a review.

According to the Treasury Department, which chairs CFIUS, the company still needs to submit the transaction for review before completion. The organization, with the Department of Justice, Homeland Security, Commerce, State and Defense among its members, recently received expanded authority to review real estate transactions near US military installations.

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