President Joe Biden has signed an executive order to prohibit a China-linked cryptocurrency mining company from continuing to use land near a nuclear missile base in Wyoming.
A threat to national security
President Biden cited national security reasons for ordering the removal of the company, MineOne Cloud Computing Investment, and its partners, who acquired the land in June 2022 to set up a cryptocurrency mine. He stated that "there is credible evidence leading to the belief that MineOne Partners Limited, a British Virgin Islands company majority owned by Chinese nationals, may be taking actions that threaten the national security of the United States".
A strategic base
Francis E. Warren Air Force Base, located in Cheyenne, Wyoming, is a strategic base that houses intercontinental ballistic missiles. The land in question is less than a mile from the base, raising national security concerns.
A ban on access
The executive order also prohibits all China-related entities from accessing the land, which must be sold within 120 days of the date of the order. Equipment installed after the improvements must also be removed. This measure aims to reinforce control over the country's strategic assets and limit foreign influence in the crypto sector.
A new stage in the war against crypto
The order is another step in the war on crypto being waged by the Biden administration, which has already ordered a crackdown on the Bitcoin mining industry in the US, citing China as an example to follow. It underscores growing concerns about national security and economic sovereignty in the context of the proliferation of foreign players in the crypto sector.
