Senators Elizabeth Warren and Angus S. King, Jr. have formally communicated with top Biden administration officials regarding US efforts to counter Iran's use of cryptocurrency mining to evade international sanctions.

The letter, addressed to Secretary of Defense Lloyd Austin, National Security Advisor Jake Sullivan, and Treasury Secretary Janet Yellen, expresses concerns over Iran's increasing involvement in cryptocurrency mining since legalizing it in 2019.

The senators specifically highlight Iran's alleged support of terrorist groups like Hamas through revenue generated from mining activities. They also raise concerns about Iran's potential use of cryptocurrency to fund military actions, citing recent drone and missile attacks on Israel.

The Treasury Department is investigating large cryptocurrency transactions possibly linked to militant activities. The senators have requested detailed information from the administration by May 16, 2024, regarding Iran's crypto mining revenue, the government's involvement, and US measures to address these threats.

This inquiry underscores the complexity of global finance in the digital era and may influence future US policy on cryptocurrency and its role in global security.