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WASHINGTON (AP) — President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base.
The order forces the divestment of property operated as a crypto mining facility near the Francis E. Warren Air Force Base. It also forces the removal of certain equipment owned by MineOne Partners Ltd., a firm that’s partly owned by the Chinese state.
This comes because the U.S. is slated on Tuesday to issue major latest tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, in response to a U.S. official and one other person acquainted with the plan.
The divestment order was made in coordination with the U.S. Committee on Foreign Investment within the United States — a little-known but potentially powerful government agency tasked with investigating corporate deals for national security concerns that holds power to force the corporate to alter.
A 2018 law granted CFIUS the authority to review real estate transactions near sensitive sites across the U.S., including F.E. Warren Air Force Base.
The order was vague concerning the specific national security concerns, with the Treasury Department saying only that there have been issues with “specialized and foreign-sourced equipment potentially able to facilitating surveillance and espionage activities” that “presented a big national security risk.”
According to CFIUS, the acquisition was not filed with the body, as required, until after the panel received a public tip.
Treasury Secretary Janet Yellen, who serves because the chairperson of CFIUS, said the role of the committee is “to be sure that foreign investment doesn’t undermine our national security, particularly because it pertains to transactions that present risk to sensitive U.S. military installations in addition to those involving specialized equipment and technologies.”
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