US Senator Elizabeth Warren has issued a warning to US military officials, claiming that Iranian cryptocurrency mining activities are supporting terrorism. In an open letter co-written with Senator Angus King Jr., Warren highlighted the potential national security threat posed by the Iranian government’s involvement in crypto mining. The senators specifically mentioned the ties between Iranian crypto mining firms and Hamas, a militant group. They called on the Biden administration to provide information on its efforts to combat Iran’s evasion of US and international sanctions through crypto mining. The letter also noted that Iran has raised millions of dollars through crypto mining, which allows the country to fund terrorist organizations. Estimates suggest that Iranian Bitcoin mining generated around $1 billion in revenue in 2021. The senators further accused Iran of using cryptocurrencies to launder funds and evade sanctions, citing the example of the Iranian crypto exchange Nobitex, which allegedly facilitated billions of dollars in Iranian crypto transactions. The letter also highlighted Iran’s history of using crypto to fund terrorist groups like Hezbollah. Warren and King emphasized the direct threat to national security posed by Iran’s use of crypto, particularly in funding attacks against Israel.
