Escalating tensions between the US and China! Biden orders the forced dismantling of a Chinese-owned Bitcoin mining company near a US missile base.

In a recent executive order, President Biden of the United States has called for a cryptocurrency mining company with ties to China to halt its operations near a missile base in Wyoming, raising significant national security concerns.

Chinese-Owned Company Poses Threat to U.S. National Security

According to an order issued by the White House on May 13, President Biden has signed an executive order prohibiting cloud computing company MineOne and its partners from continuing to use land near an Air Force base in Wyoming. The base serves as a strategic missile base and an intercontinental ballistic missile base. The order notes that MineOne Partners Limited, based in the British Virgin Islands and majority-owned by Chinese nationals, poses a potential national security threat.

Microsoft's Prior Warning! Yellen Vows Increased Caution

Microsoft had previously reported to the Committee on Foreign Investment in the United States (CFIUS) in August 2022 that the location could enable China to conduct "comprehensive intelligence collection activities." U.S. Treasury Secretary Yellen, who chairs the committee, stated that the order to force the sale of the land "highlights CFIUS's role as a key guardian" to ensure that foreign investment does not undermine U.S. national security.

MineOne Mining Equipment Dismantled, Land Must Be Sold

Under the order, MineOne and its affiliates must sell the property within 120 days and are prohibited from transferring it to a third party. The company must also remove all equipment installed at the site. MineOne has not publicly responded to the matter.

Biden Administration Takes Strong Stance Against China, Cryptocurrency Policy Becomes Election Key

The Biden administration had previously ordered a crackdown on Bitcoin mining in the U.S., using China as an example, as part of its ongoing war on cryptocurrency. In 2021, China's ruling regime significantly restricted cryptocurrency mining, leading to a large influx of mining activities to the U.S.

The issuance of this order comes as the Biden administration plans to significantly increase tariffs on several Chinese imports, including electric cars, the following day. This demonstrates the administration's serious approach to national security and economic strategy.

Furthermore, many in the U.S. cryptocurrency community, dissatisfied with Biden and the Democratic Party's unfriendly stance towards cryptocurrency, have turned to support the Republican Party and Trump, believing that Trump's administration would strongly change the SEC's stance and dismiss Gary Gensler.