Senators Urge Action on Iran's Crypto Mining to Counter Sanction Evasion

Senators Elizabeth Warren and Angus King have highlighted the national security risks posed by Iran's profitable bitcoin mining operations.

Senators Warren and King have called on the Biden administration to address Iran's use of cryptocurrency mining as a means to circumvent international sanctions.
The lawmakers sent a letter to top U.S. officials, stressing that Iran's crypto activities fund imports, domestic and international money transfers, and terrorist organizations.
Iran's bitcoin mining has become increasingly profitable, raising concerns about its impact on the country's energy grid and its role in global crypto money laundering.
The Senators' request for action comes ahead of a Senate Armed Services Committee hearing on global threats.
The administration is urged to detail steps taken to mitigate the threats posed by Iran's reliance on cryptocurrency to bypass sanctions.