Fun

US lawmakers warn of Iranian crypto miners threatening national security

News Feed - 2024-05-03 04:05:00

Turner Wright4 hours agoUS lawmakers warn of Iranian crypto miners threatening national securityAccording to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.698 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksUnited States Senators Elizabeth Warren and Angus King penned a letter to officials warning of potential national security threats posed by cryptocurrency miners in Iran.


In a May 1 letter to National Security Advisor Jake Sullivan, Defense Secretary Lloyd Austin and Treasury Secretary Janet Yellen, the two lawmakers called on the Biden administration to provide information related to possible ties between the Iranian government and local crypto miners and how digital assets might be used to bypass U.S. sanctions. According to Senators Warren and King, Iran has used funds from crypto mining to fund terrorist organizations and the country’s April attack on Israel.


“Iran’s use of crypto to evade sanctions poses a direct threat to our national security,” said the letter. “The Iranian military has used crypto to fund known terrorist groups like Hezbollah, the organization believed to be partially responsible for the January 2024 drone strike in Jordan that killed three U.S. service members [...] Unless we take action, Iran will continue to use crypto to fund attacks against Israel.”Source: The Hill


Senators Warren and King requested U.S. officials provide data on the revenue of crypto miners in Iran, how it is potentially used for money laundering and its response to “address threats to U.S. national security.” The two cited a report from an Iranian think tank saying the government preferred “newly-minted” Bitcoin (BTC), claiming they were “less traceable.” Reports suggested Iranian BTC miners could have produced up to $1 billion in revenue in 2021. 


Related:Crypto users fooled by fake Elizabeth Warren letter proposing crypto tax


Iran has been under various sanctions the United States and international authorities imposed since 1979. Iranian officials previously cracked down on crypto mining in the country, citing concerns about electricity use, but the government legalized the practice in 2019.


Senator Warren continues to be one of the most outspoken anti-crypto voices in the U.S. government, associating the technology with illicit drug trafficking, terrorism and harmful effects on the economy. She is up for reelection in November and will likely face off against Republican candidate and crypto lawyer John Deaton for her Massachusetts Senate seat.


Magazine:Lawmakers’ fear and doubt drives proposed crypto regulations in US# Mining# Government# Iran# United States# Sanctions# RegulationAdd reaction

News Feed

Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder
Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder Authorities in South Korea have reportedly seized assets worth billions of won belonging to f
This Year’s Super Bowl Attendees to Get Commemorative NFT Tickets From NFL, Ticketmaster
This Year"s Super Bowl Attendees to Get Commemorative NFT Tickets From NFL, Ticketmaster The National Football League (NFL) has announced the American football organization plans t
7 Startups Join Mastercard Program to Make Cryptocurrency More Accessible
7 Startups Join Mastercard Program to Make Cryptocurrency More Accessible Payments giant Mastercard has added seven startups to its Start Path program to make cryptocurrencies more
P2P Bitcoin Trading: Venezuela, Colombia Account for Over 23% of Total Localbitcoins Volume
P2P Bitcoin Trading: Venezuela, Colombia Account for Over 23% of Total Localbitcoins Volume A study revealed a rising trend in bitcoin (btc) volume trading acros
Montenegro High Court may extradite Do Kwon to South Korea after appeal — Report
Derek Andersen4 hours agoMontenegro High Court may extradite Do Kwon to South Korea after appeal — ReportThe co-founder of bankrupt Terraform Labs was first set to be extradited to the United States after lengthy court
Rich Dad Poor Dad Author Calls Evergrande a ‘House of Cards’ While China’s Officials Prep for Firm’s Demise
Rich Dad Poor Dad Author Calls Evergrande a "House of Cards" While China"s Officials Prep for Firm"s Demise The world is still focused on the financial downfall of China’s r
Solana Price Holds $166 Support After Rejection From $183 – What Comes Next?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Eligma Raises Additional €4 Million Equity Investment at €50 Million Valuation
Eligma Raises Additional €4 Million Equity Investment at €50 Million Valuation PRESS RELEASE. Crypto payments startup Eligma has announced it recently comple
Emsisoft Releases Bug Fix for Bitcoin-Ransoming Malware WannaCryFake
Software firm Emsisoft released a bug fix for the bitcoin-ransoming malware WannaCryFake. Announced today in a blog post, the free software will help recover encrypted files without
Venezuelan Authorities Shut Down Power Supply to Bitcoin Miners in Key State
Venezuelan Authorities Shut Down Power Supply to Bitcoin Miners in Key State Regional authorities in one of the key states of the country, Carabobo, suspended th
New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales
New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie
Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000
Este artículo también está disponible en español. Recent market inflows and dynamicshave seen the Bitcoin price breaking free from a 7-month descending broadening wedge p