US Government Imposes Land Restrictions on China-Backed Crypto Mining Firm Near US Military Base

Monday, 13 May 2024, 21:16

President Biden has issued an order barring a China-majority-owned crypto mining company from owning land adjacent to a US Air Force base. This move aims to safeguard national security interests and prevent potential risks associated with foreign ownership of strategic locations. The decision signals increased scrutiny on China-backed entities operating in sensitive sectors near critical infrastructure.

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US Government Imposes Restrictions

President Biden has issued an order blocking a China-majority-owned crypto mining company from having property close to an Air Force base.

National Security Concerns

The move aims to safeguard national security interests and prevent potential risks associated with foreign ownership of strategic locations.

The decision signals increased scrutiny on China-backed entities operating in sensitive sectors near critical infrastructure.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.