Order Blocking Chinese-backed Cryptocurrency Mining Firm near Wyoming Nuclear Missile Base

SOURCE apnews.com
President Joe Biden issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base due to national security concerns. The order forces the divestment of the property operated as a crypto mining facility near the base.

Key Points

  • President Biden issues an order blocking a Chinese-backed cryptocurrency mining firm from owning land near F.E. Warren Air Force Base in Wyoming
  • The order forces the divestment of property operated as a crypto mining facility near the base
  • The U.S. is set to issue major new tariffs on various imports from China
  • The divestment order was made in coordination with the U.S. Committee on Foreign Investment in the United States
  • CFIUS directed the sale of the property within 120 days and the removal of all structures and equipment within 90 days

Pros

  • Protects national security interests
  • Highlights the role of the U.S. Committee on Foreign Investment in the United States

Cons

  • Potential impact on business operations and investment relationships