US President Joe Biden issues executive order
Joe Biden, the President of the United States, has issued an executive order to prevent MineOne Cloud Computing Investment I LP from acquiring property near Warren Air Force Base in Cheyenne, Wyoming. This decision was made due to national security risks.
Biden's reasoning
The property's proximity to the Air Force Base and the nature of MineOne's operations, which involve cryptocurrency mining and could potentially enable surveillance and espionage, prompted this order.
Review by CFIUS
Biden's decision followed a review by the Committee on Foreign Investment in the United States (CFIUS) prompted by public concerns. The order requires MineOne and its subsidiaries to fully divest their interest in the property within 120 days and remove all operating equipment and improvements within 90 days, under CFIUS oversight.
Measures and consequences
The company is prohibited from entering the property during the divestment and cleanup phases and must report compliance progress to CFIUS. Failure to comply may result in further penalties enforced by the Attorney General. This action underscores the administration's commitment to protecting national security by monitoring and controlling foreign investment in sensitive areas.
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