Plan a Crypto Mine Near a U.S. Military Base? Expect a Bigger Hassle Now.
Summary
The U.S. Department of the Treasury has introduced a new rule to increase scrutiny of foreign real estate deals near sensitive military bases. This follows President Biden's shutdown of a China-linked crypto mining operation, MineOne, near a Wyoming nuclear missile base due to national security concerns. MineOne, majority-owned by Chinese nationals, was located close to Warren Air Force Base, which houses ICBMs. The new rule expands the government's authority to review such transactions near a broader range of military facilities, enhancing the ability to deter foreign threats and intelligence gathering.
