US Senator Elizabeth Warren has warned military officials that Iranian cryptocurrency mining operations are supporting terrorism. In an open letter co-signed by Senator Angus King Jr., Warren claimed that the Iranian government’s involvement in crypto mining poses a threat to national security. The letter called on the Biden administration to provide information on efforts to combat Iran’s evasion of US and international sanctions through crypto mining. Warren and King Jr. expressed particular concern over the ties between Iranian mining firms and Hamas, highlighting the steady revenue generated from mining activities. The letter also noted that Iran has raised millions of dollars through mining crypto, enabling it to purchase imports, move funds domestically and internationally, and fund terrorist organizations. Estimates suggest that Iranian Bitcoin mining could have generated up to $1 billion in revenue in 2021, despite the significant electricity consumption involved. The senators also accused Iran of using cryptocurrencies to launder funds, citing the example of the crypto exchange Nobitex providing guidelines to users on avoiding sanctions. They further highlighted the Iranian military’s history of ties with ransomware gangs and its use of crypto to fund terrorist groups like Hezbollah. Warren and King Jr. emphasized that Iran’s use of crypto to evade sanctions poses a direct threat to national security and called for action to prevent the country from funding attacks against Israel.
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