Sens. Elizabeth Warren (D-Mass.) and Angus King (D-Maine) on Wednesday asked the Biden administration how to address Iran’s use of cryptocurrency mining to circumvent sanctions. We asked for information on whether the
“Iran has raised millions of dollars through mining cryptocurrencies, a steady source of income that allows it to buy imported goods, move funds domestically and internationally, and finance Hamas and other terrorist organizations.” said the senators in a letter to Secretary of Defense Lloyd Austin and the Treasury Department. Secretary of State Janet Yellen and National Security Adviser Jake Sullivan.
“Ongoing activities by the Iranian government threaten our national security,” they added.
Warren and King said crypto mining – the process of verifying crypto transactions and minting new tokens – is “increasingly lucrative” for Iran, which faces numerous U.S. and international sanctions over its nuclear program. “There is,” he said.
Bitcoin mining in particular pumped more than $186 million into Iranian cryptocurrency platforms between 2015 and 2021, making Tehran among the top eight Bitcoin producing countries as of 2021, the two men said. stated in the letter.
Warren and King urge the Biden administration to address Iran’s use of cryptocurrency mining, the extent to which it is used to “finance terrorist organizations, military operations, and weapons development,” and the issue. We requested information on the measures the administration is taking to address this issue.
Warren, one of the most outspoken critics of cryptocurrencies in Congress, similarly spoke out in a letter earlier this week with Sen. Roger Marshall (R-Kan.) about sanctions avoidance by Russia, Iran, and North Korea. pressure on the government regarding the use of virtual currency for
In Monday’s letter, Warren and Marshall expressed particular concern about Russia’s use of stablecoin Tether to obtain weapons for its war against Ukraine, despite U.S. sanctions. expressed.
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