Crypto Regulations Tighten as Biden Halts Chinese-Owned Mining Site Acquisition
Tuesday, 14 May 2024, 04:14
National Security Concerns Prompt Presidential Action
The Committee on Foreign Investment in the United States (CFIUS) identified risks in the foreign-owned equipment at the site, leading to a national security risk.
Prohibited Transaction and Compliance Requirements
MineOne and affiliates are required to sell the property, remove all equipment from the site, and provide updates to CFIUS.
Biden's Crypto Policies and Industry Reaction
Biden's stance on crypto is reinforced by regulatory actions and the industry's response through support for crypto-friendly candidates and policies.
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.