Senator Elizabeth Warren has sounded the alarm over the potential national security risks posed by foreign-controlled cryptomines, warning that these facilities could be used for espionage and other nefarious purposes. Speaking at a Senate Committee on Banking, Housing, and Urban Affairs hearing, Warren expressed her concerns that other countries are covertly using digital asset mining facilities to gather intelligence on the US military and potentially disrupt the country’s energy grid.
Warren’s comments come as Assistant Secretary of the Treasury for Investment Security Paul Rosen acknowledged a “generalized concern” that sophisticated equipment built near sensitive facilities could be used for espionage. The senator emphasized that cryptomines could be used by foreign adversaries to spy on military bases, disrupt the power grid, or facilitate secret financial transactions.
Warren’s concerns are not new. Last year, the Treasury Department requested additional tools from Congress to prevent China, Iran, Russia, and other foreign countries from using crypto to evade sanctions and launder dirty money. The senator is now calling for Congress to pass laws that would bolster national security against these foreign threats.
Warren’s comments have sparked renewed debate over the potential risks and benefits of the crypto sector. As a longtime critic of cryptocurrency, Warren has previously warned that “rogue nations,” oligarchs, and drug dealers are using cryptocurrency to fund their criminal regimes. In 2021, she stated that the crypto sector poses a significant threat to the financial system.
The senator’s warnings come as the US government continues to grapple with the challenges posed by the rapidly evolving crypto landscape. As the use of digital assets and mining facilities grows, it is clear that national security concerns will only continue to escalate. It remains to be seen whether Congress will take action to address these concerns and protect the interests of the United States.
BitminerFactory is brought to life by Darrell Houghton, our astute publisher. With a deep-rooted passion for crypto and crypto mining spanning many years, Darrell’s unwavering enthusiasm fuels his daily quest for knowledge. He is eager to share the pivotal news stories of the day while also providing his own analysis and commentary with Bitminer Factory’s readers.
Source: Crypto Mining News - Bing
