Senator Elizabeth Warren says US rivals are covertly using digital asset mining facilities for intelligence gathering purposes.
Speaking at a Senate Committee on Banking, Housing, and Urban Affairs hearing, Warren says she’s concerned that other countries are spying on the US military through cryptomines.
“Foreign adversaries are using cryptomines to spy on US military operations. That is an obvious national security risk. But it isn’t the only risk. Foreign-owned cryptomines also threaten the energy grid.”Â
The senator’s comments come as Paul Rosen, the Assistant Secretary of the Treasury for Investment Security, said in the hearing that there is a “generalized concern” that “sophisticated equipment” built close to sensitive facilities “can be used for espionage.”
To protect the interests of the United States, Senator Warren says it is time for Congress to pass laws that bolster national security against foreign threats clandestinely using crypto and mining facilities.
“Cryptomines could be used by our adversaries to spy on military bases, or to bring down the power grid, or move money in and out of the country in secret.
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.
It is time for us to pass laws, laws that Treasury needs.”
Senator Warren is known for being a longtime crypto critic. In June of last year, Warren said that “rogue nations,” oligarchs and drug dealers were using cryptocurrency to fund their criminal regimes.
In 2021, the Massachusetts senator said the crypto sector poses a big threat to the financial system.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
