Senator Elizabeth Warren said that US rival countries are secretly using digital asset mining facilities to gather intelligence.
Warren said at a hearing before the Senate Banking, Housing and Urban Affairs Committee. To tell She worries that other countries may be spying on the U.S. military through code mines.
“Foreign adversaries are using cryptomining to spy on U.S. military operations. This is a clear national security risk. But the risks don’t end there: foreign-owned cryptomining also poses a threat to our energy grid.”
The senators’ comments came after Paul Rosen, undersecretary for investment security at the Treasury Department, said at a hearing that there was a “general concern” that “sophisticated equipment” built near sensitive facilities “could be used for espionage.”
Senator Warren said it is time for Congress to pass legislation to strengthen national security against foreign threats using cryptocurrencies and crypto mining facilities covertly to protect U.S. interests.
“Cryptomines could be used by hostile nations to spy on military bases, shut down power grids, and secretly move funds out of the country.”
The Treasury Department last year asked Congress for additional measures to prevent China, Iran, Russia and other foreign countries from using cryptocurrencies to evade sanctions and launder dirty money.
Now is the time for the Treasury Department to enact the legislation that is needed.”
Senator Warren has been known as a longtime critic of cryptocurrencies, saying in June last year that “rogue nations,” oligarchs, and drug traffickers were using cryptocurrencies to fund their criminal regimes.
In 2021, the Massachusetts senator said the cryptocurrency sector poses a major threat to the financial system.
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