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- The US government has blocked Chinese crypto mining firm MineOne from owning land near the F.E. Warren Air Force Base, citing national security concerns.
- The Wyoming Air Force base houses intercontinental ballistic missiles, making the proximity of the Chinese company’s land a potential threat.
- Officials have warned of a common practice among Chinese firms to target US military installations by purchasing land nearby.
The US government takes action against Chinese crypto mining firm MineOne, citing national security concerns due to its proximity to a key military base. This move highlights the increasing scrutiny of foreign investments near sensitive US military installations.
US Blocks MineOne’s Land Ownership Near Military Base
US President Joe Biden has prevented Chinese crypto firm, MineOne Partners Ltd., from owning land located near the F.E. Warren Air Force Base. The Wyoming Air Force base houses intercontinental ballistic missiles, leading Biden to label the mining firm as a threat to national security. The government has ordered the company and its affiliates to dispossess the real estate it bought in 2022 near the Wyoming Air Force base.
CFIUS Highlights Potential Threat
The Committee on Foreign Investment in the United States (CFIUS) has underscored the potential threat behind the Chinese company’s purchase of the area. The US Treasury pointed out that the Chinese crypto firm’s purchase of the land posed a significant risk. While the department’s explanations on the threat were vague, US Treasury Secretary and CFIUS Chairperson Janet Yellen stated that the committee’s role is “to ensure that foreign investment does not undermine our national security, particularly as it relates to transactions that present risk to sensitive U.S. military installations as well as those involving specialized equipment and technologies.”
Chinese Firms’ Common Practice of Targeting US Military Installations
Federal and state officials have warned against a common practice of Chinese firms targeting US military installations by buying lands near them. In the current case, MineOne’s real estate is reportedly just one mile away from the Air Force base. This incident underscores the ongoing concerns about foreign investments near sensitive US military installations and the potential risks they pose to national security.
Conclusion
The blocking of MineOne’s land ownership near the F.E. Warren Air Force Base highlights the US government’s increasing vigilance against potential national security threats. It underscores the need for careful scrutiny of foreign investments, particularly those near sensitive military installations. As the crypto industry continues to grow globally, such issues are likely to become increasingly prominent in the intersection of national security and financial investments.