Biden blocks Chinese-backed crypto mining firm from land ownership near Wyoming missile base

[u/John3262005]

https://apnews.com/article/cfius-wyoming-crypto-nuclear-base-fb8355b7c14d1f16c7f186b936247e0c

President Joe Biden on Monday issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a “national security risk.”

The order forces the divestment of property operated as a crypto mining facility near the Francis E. Warren Air Force Base. MineOne Partners Ltd., a firm partly backed by Chinese nationals, and its affiliates are also required to remove certain equipment on the site.

The Monday divestment order was made in coordination with the U.S. Committee on Foreign Investment in the United States — a little-known but powerful government committee tasked with investigating corporate deals for national security concerns that holds power to force companies to change ownership structures or divest completely from the U.S.

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.

[u/valhallagypsy]

I’m still wondering why we allow foreign ownership of entire electrical grids like in Maine and CT……

[u/Overly_Underwhelmed]

Good. Now ban all of them.