-
Senators
Elizabeth
Warren
and
Angus
King
have
asked
the
heads
of
the
Department
of
Defense
and
the
Department
of
the
Treasury
to
explain
what
they’re
doing
about
Iran’s
crypto
mining. -
A
letter
from
the
lawmaker
argued
that
the
nation
is
relying
on
mining
to
fund
itself
outside
of
the
reach
of
sanctions.
U.S.
Sen.
Elizabeth
Warren
(D-Mass.),
one
of
the
most
prominent
critics
of
cryptocurrency
hazards,
warned
the
top
military
and
financial
officials
that
Iran
relies
on
digital
assets
mining
as
a
source
of
revenue
that
can
lessen
the
pressure
from
U.S.
sanctions.
Warren
and
Sen.
Angus
King
(I-Maine)
sent
a
letter
to
Secretary
of
Defense
Lloyd
Austin,
Secretary
of
the
Treasury
Janet
Yellen
and
National
Security
Advisory
Jake
Sullivan
to
question
what
the
authorities
are
doing
about
Iran’s
“increasingly
lucrative”
relationship
with
crypto
mining
that
“poses
a
direct
threat
to
our
national
security.”
The
letter,
dated
May
1,
outlined
Iran’s
status
as
a
leading
jurisdiction
for
bitcoin
(BTC)
mining
and
how
its
central
bank
channels
cryptocurrency
to
fund
the
economy,
though
many
of
the
citations
were
based
on
activity
in
2021.
“Cryptomining
has
become
such
a
big
industry
in
Iran
that
it
has
strained
the
country’s
energy
grid,
leading
the
Iranian
government
to
temporarily
suspend
cryptomining
several
times
after
it
was
blamed
for
massive
blackouts,”
the
lawmakers
wrote.
The
senators
also
noted
Iran’s
history
with
crypto
money
laundering
and
that
government’s
ties
to
ransomware
operations
that
work
in
digital
assets.
Warren
and
King
directed
the
officials
to
“describe
the
steps
the
administration
is
taking
to
address
threats
to
U.S.
national
security
posed
by
Iran’s
reliance
on
cryptomining
and
cryptocurrency
more
generally
to
earn
revenue
and
bypass
sanctions.”
The
lawmakers’
letter
was
sent
in
advance
of
Thursday’s
Senate
Armed
Services
Committee
hearing
on
global
threats.
UPDATE
(May
2,
2024,
15:57
UTC):
Adds
context
on
timing
of
letter
in
advance
of
hearing
on
threats.
