In the midst of the US presidential elections, cryptocurrencies have taken center stage in discussions during the electoral process. Notably, presidential candidate Donald Trump, formerly noted for his anti-Bitcoin (BTC) and anti-cryptocurrency stance, has now voiced support for crypto, while the incumbent President and fellow candidate Joe Biden continues to uphold his anti-crypto position.

Coindesk reports that US President Joe Biden has directed the closure of MineOne, a cryptocurrency mining operation under the management of Chinese investors, situated in the proximity of the Warren Air Force Base in Wyoming, citing concerns over national security risks. The White House's official statement revealed that a crypto mining entity, predominantly owned by Chinese nationals, had established operations merely a mile away from a US nuclear missile installation without the requisite authorization.

Furthermore, it was highlighted that the firm employed foreign technologies that raised national security apprehensions. The White House underscored that the parcel of land hosting the mining activities had been procured in 2022; however, the company handling the property stands accused of executing the land acquisition and commencing operations without duly seeking approval from the Committee on Foreign Investment in the United States (CFIUS), prompting an official inquiry into the matter.

Biden's executive order also demands the divestment of the contested land. US Treasury Secretary Janet Yellen, in her statement, accentuated the significance of CFIUS in its role as a crucial overseer to safeguard against foreign investments that could jeopardize national security, especially in transactions involving sensitive US military installations, specialized equipment, and cutting-edge technologies.