Senator Elizabeth Warren said U.S. adversaries are secretly using the mining of digital assets to gather intelligence.
In a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Senator Warren said she is concerned that other countries are using cryptomining to spy on the U. S. military.
foreign adversaries are using cryptomines to spy on U. S. military operations. It's a clear risk to national security. But it's not the only risk. Foreign-owned cryptomines also threaten the power grid.
The senator's remarks came after Paul Rosen, the Treasury Department's assistant secretary for investment security, said at the hearing that there is a "general concern" that "sophisticated equipment" built near classified facilities "could be used for espionage.
To protect U. S. interests, Senator Warren said it's time for Congress to pass legislation to strengthen national security against foreign threats to the covert use of #cryptocurrencies and #mining facilities.
Cryptocurrencies can be used by adversaries to spy on military bases, disrupt power grids, and move money in and out of the country in secret. Last year, Treasury asked Congress for additional tools to prevent China, Iran, Russia, and other foreign countries from using cryptocurrencies to circumvent sanctions or launder dirty money. Now is the time to pass the necessary legislation for the Treasury Department.
Senator Warren is known for her longstanding criticism of cryptocurrencies. Last June, Senator Warren said that rogue states, oligarchs, and drug traffickers are using cryptocurrencies to fund their criminal regimes.
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