US Senator Elizabeth Warren warned the Biden administration about Iran's cryptocurrency mining activities. In a letter to the US Treasury and Defense Secretaries this week, the senator said Iran's activities in the cryptocurrency sector pose a "serious threat to national security."
Warren asked for clarification from the administration, questioning how Iran was circumventing the embargoes imposed in this way. According to the letter, Iran has used millions of dollars from cryptocurrency mining to import, transfer money domestically and internationally, and fund various organizations, including Hamas.
Between 2015 and 2021, Iran's Bitcoin mining platforms generated a total of $186 million in revenue.
