In a letter sent to the Biden Administration, U.S. Senators Elizabeth Warren and Angus King claim that Iran is exploiting Bitcoin mining to evade sanctions and support terrorism.
U.S. Senators Elizabeth Warren and Angus King have sent a letter to the Biden administration, claiming that Iran is using Bitcoin mining as a means to evade sanctions and fund terrorist activities.
Warren and King claim that Iran has generated millions of dollars through Bitcoin mining to support the country's ability to conduct international and domestic transactions, purchase imports, and fund terrorist groups.
The senators have requested detailed information about Iran's involvement in Bitcoin mining, the extent of its use in funding military actions or weapon development, and the measures the U.S. administration is taking to counteract these activities.
Warren previously inquired about Russia, Iran, and North Korea's use of Bitcoin to sidestep sanctions. Specifically, Warren, along with Sen. Roger Marshall (R-Kan.), probed about Russia's use of the stablecoin Tether to acquire arms for its conflict with Ukraine despite sanctions.
In a related May 1 letter, Warren and King urged the administration to address the "direct threat" posed by Iran's use of Bitcoin. The senators referred to a report by an Iranian think tank, which suggested that the Iranian government prefers "newly-minted" Bitcoin as it is less traceable.
Senator Warren is set to run for reelection in November, potentially facing Republican candidate and "crypto attorney" John Deaton for her Senate seat in Massachusetts.
