<\/p>\n
Well-known cryptocurrency critic and United States Senator Elizabeth Warren is waging war on digital asset miners, especially foreign-owned facilities, for their supposed risks to environmental and national security.<\/p>\n
During a recent Senate Committee on Banking, Housing, and Urban Affairs hearing<\/a>, Warren questioned the Treasury Department\u2019s assistant secretary for investment security, the Honorable Paul Rosen, about the threat such entities pose on U.S. soil.<\/p>\n Warren said Chinese citizens and people with direct ties to the Chinese government own one-third of crypto mining facilities in the U.S., insisting that they can be used for espionage and threaten the U.S. energy sector, energy resources, and energy supply chain. She cited a New York Times report that said Chinese-owned Bitcoin mining facilities in the U.S. use enough energy to power 1.5 million homes.<\/p>\n According to Warren, these mining facilities are loud, hot, and \u201csuck up a ton of electricity,\u201d which can crash the nation\u2019s power greed. She called crypto mining an environmental disaster, which also poses national security risks.<\/p>\n \u201cForeign adversaries are using cryptomines to spy on U.S. military operations. That is an obvious national security risk. But it isn\u2019t the only risk. Foreign-owned crypto mines also threaten the energy grid\u2026<\/p>\n National security experts have warned that foreign-owned crypto mining facilities\u2019 connection to our energy grid could leave the U.S. vulnerable to targeted blackouts and cyber attacks,\u201d the politician stated.<\/p>\n<\/blockquote>\n Warren further explained that these foreign nationals have been able to buy up U.S.-based crypto mining facilities by paying in crypto, bypassing the traditional banking system and its anti-money laundering (AML) measures. She emphasized<\/a> the need to \u201cplug the holes\u201d by implementing AML rules in the crypto sector.<\/p>\n Senator Warren\u2019s latest jab against crypto miners comes as Senator Marshall Roger withdraws<\/a> his support for the Digital Asset Anti-Money Laundering Act (DAAMLA), which they sponsored and introduced together last year.<\/p>\n DAAMLA is an anti-crypto bill that aims to subject the industry to existing AML laws and counter-terrorist financing networks. It has gained<\/a> support from multiple entities, including the Bank Policy Institute, the National District Attorneys Association, and the National Consumers League.<\/p>\nA Threat on U.S. Soil<\/h2>\n
\n
Sen. Roger Drops Support For DAAMLA<\/h2>\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n