US senators warn on Iran Bitcoin mining industry

[bbc.reporter]

This stupid grandma Warren. A letter? Does this honorable senator want to increase American military presence in the middle east and escalate the situation into direct war because this grandma is anticrypto? Does she know what she is doing or is everything only because of corporate interests by her backers?

Who are the biggest political campaign donators on this grandma? I will not be very shocked if much of them are people from the traditional banking industry.



US senators Elizabeth Warren (D-Mass.) and Angus King (I-Maine) this week warned in a letter to government officials that Iran’s Bitcoin mining industry has created a revenue stream big enough to weaken the effects of economic sanctions.

Crypto mining allows Iran “to purchase imports, move funds domestically and internationally, and fund Hamas” and other terrorist organisations, the letter said, adding that this “ongoing activity by the Iranian government threatens our national security.”

The letter, citing numerous sources, noted that Iran is one of the world’s biggest Bitcoin producers, estimated to account for as much as 7% of the global market in 2021, when its mining revenue may have totaled $1 billion.

It went on to say that “Iranian cryptominers are required to sell the crypto they produce to the Iranian central bank, which in turn uses the crypto to pay for imports and exports.”

The letter was sent to Secretary of Defense Lloyd Austin, Secretary of the Treasury Janet Yellen, and National Security Advisor Jake Sullivan, questioning them on what the Biden administration was doing to deter Iran’s evasion of sanctions through crypto mining.

Read in full https://www.dlnews.com/articles/snapshot/senators-say-iran-using-bitcoin-mining-to-evade-sanctions/

[ALLON2017]

Then the US should ban Bitcoin soon

[BlackBoss_]

She is always anti-Bitcoin but in coming months, she will need to focus on her propaganda to secure her spot in the US. Congress. If she is careful and lose support, she will not be revoted by supporters and will lose her spot in the US. Congress.

I don't worry about Mrs. Warren because in the US. Congress, I know there are many people who support Bitcoin and cryptocurrency industry and market. Some anti-Bitcoiners like Mrs. Warren can not change anything.

If criminals want to do money laundering, they will choose Monero that is better for privacy than Bitcoin.

[Apocollapse]

Fuck Warren, Warren always been an enemy for Bitcoin (Elizabeth Warren, Warren Buffet).

This will be hard for miners in Iran, they're not anonymous since the government can know which house or place that consume a lot electricity, they can track it. Since miners will be forced to sell their coins to the Iranian central banks, the banks could manipulate the rates and make the miners won't earn much. Moreover, this make the newly mined coins forced to enter "centralized system".

[ABCbits]

Many points she mentioned happened few years ago[1], so it's weird she decide to make a warning now. While we already know she's anti cryptocurrency, it's also clear she did it as part to win in election. It's also worth to mention US treasury already show that cryptocurrency isn't popular choice for hamas[2].

[1] https://decrypt.co/46678/bitcoin-miners-in-iran-have-a-new-buyer-the-central-bank
[2] https://www.coindesk.com/policy/2024/02/14/us-treasury-backs-down-narrative-that-hamas-relied-on-crypto-to-fund-terrorism/

[Alphakilo]

I do not know so much about US politics but this Senator has been coming up a lot in the news in anything related to crypto. I'll put her in the same bitcoin villain group with Gary Gensler, Peter Schiff and the others.

I a read this news about what she's saying about cryptocurrency in Iran, it dawns on me that it is not about the countries she's mentioning but it is majorly her attack on bitcoin. Some headlines from here over the years.

• Warren crafts bill targeting cryptocurrency in Russia sanctions
• Lawmakers Press Biden on Plans to Prevent Use of Crypto in the ‘Financing of Terrorism’
• Crypto Heists Funneling Billions to North Korea’s Nuclear Program Attract Senate Scrutiny
• US Senator Compares Buying Bitcoin to Buying Air

[shield132]

The USA wants to gain control of everything. At first, they were saying that Bitcoin is not money, but then they started to care as it got adopted over time. The USA, as a country, doesn't accept Bitcoin, the USA hasn't also invented Bitcoin and what rights do they have to warn someone about the Bitcoin mining industry? If anyone has any right to warn someone, it's probably Satoshi but it's not even him because Bitcoin was created with the aim to be decentralized, with no central power.
They are basically telling Iran that Bitcoin mining lessens the effect of economic sanctions and they should stop it to suffer from economic sanctions. That doesn't make any sense to me. How can I tell someone to stop doing something that's not my job or my invention? Haha.

[ultrloa]

Fuck Warren, Warren always been an enemy for Bitcoin (Elizabeth Warren, Warren Buffet).

This will be hard for miners in Iran, they're not anonymous since the government can know which house or place that consume a lot electricity, they can track it. Since miners will be forced to sell their coins to the Iranian central banks, the banks could manipulate the rates and make the miners won't earn much. Moreover, this make the newly mined coins forced to enter "centralized system".

That's how this idiots influence those other countries official and they try to destroy some industry which has already been establish on other country. I wonder why there's still Americans cast their vote on those type of person since its like they are been dictated and don't have freedom to choose whatever they like especially on their investment. If the official of Iran is so weak then maybe they might get influence by what that Senators says or write to them.

But hopefully they have the same stand the same with El Salvador President so they can shut down this entitled old skeptical officials and they should leave those miners since they are not on their jurisdictions anymore.

[Fiatless]

US senators Elizabeth Warren (D-Mass.) and Angus King (I-Maine) this week warned in a letter to government officials that Iran’s Bitcoin mining industry has created a revenue stream big enough to weaken the effects of economic sanctions.

Crypto mining allows Iran “to purchase imports, move funds domestically and internationally, and fund Hamas” and other terrorist organisations, the letter said, adding that this “ongoing activity by the Iranian government threatens our national security.”

These Senators are just haters of Iran and Palestine. The same set of senators raised the alarm that Hamas is been funded with cryptocurrencies. They are just surprised that Iran has been able to withstand Western sanctions. So they are just seeking means to place more sanctions on Iran with this Bitcoin mining claim. The contribution of Bitcoin mining to the Iranian economy is insignificant compared to the size of the economy. Considering the decentralized nature of Bitcoin, it will be difficult to stop Iran from gaining from Bitcoin mining.

This stupid grandma Warren. A letter? Does this honorable senator want to increase American military presence in the middle east and escalate the situation into direct war because this grandma is anticrypto? Does she know what she is doing or is everything only because of corporate interests by her backers?

Using the word stupid to depict a 74-year-old senator just because of her views about crypto might be inappropriate. As a lawmaker, her job is to propose laws and it is up to the house to determine if her position is good or bad. The reason for her constant attack on the crypto industry might be because of her ideology or negative perception of the industry.

[Z390]

If this Witch finds her way into the president sit she will start an unnecessary war, I am glad that there are other smart people around her who don't want her to make any stupid decisions.

Since she hates Bitcoin so badly, she could send some troops to find out where Iran has their mining farms and send missiles to the locations.
Iran has the right to generate revenue anyhow they likes, they aren't killing American citizens to get money, so it should be none of her business, if she feels like generating money from Bitcoin will only empower Iran then the US government should start mining Bitcoin.

They will make more money and they will be able to fund their military even more, if Iran can mine 1000 BTC in a year, the US should mine BTC and get 10,000 in a year, foolish woman.

Elizabeth Warren is a walking time bomb, if the gets to a position where she can push the button, she will be Hitler's favourite daughter from hell.  

[avikz]

Well, that's why I always say that the world needs a balance in power. When one country becomes too powerful, they try to bring down other country by imposing sanctions. United States have been doing it since ages. That needs to stop and cryptocurrency is one of the best ways to achieve that financial freedom.

The New World order will be complex but should not call for more wars. Without war, US economy is bound to decline.

[DanWalker]

But will these warnings affect bitcoin mining in Iran and will it affect bitcoin? No, so this news is nothing too scary or worrying. Even the Chinese market has banned bitcoin mining, but that cannot change or hinder the development of bitcoin. So we have nothing to worry about when some US government senators express their hatred of bitcoin. Let them do what they like and we will continue to invest in bitcoin for profit.

I will not be very shocked if much of them are people from the traditional banking industry.

Why do you like to think badly about banks?
Banks are not even as interested in bitcoin as we imagine. If we want others to stop saying bad things about us, we should first stop thinking bad things about them.

[PrivacyG]

Crypto mining allows Iran “to purchase imports, move funds domestically and internationally, and fund Hamas” and other terrorist organisations, the letter said, adding that this “ongoing activity by the Iranian government threatens our national security.”

This is among the top three most BULL SHIT excuses I have seen coming from a Government or its politicians to impose more restrictions.

First we were Money Launderers and Terrorists.  Then Mining is doing bad things to the environment.  Then LOOK!  Mixers are being so used we barely have any crimes left besides users of these extremist Services!  But have you noticed Mining is helping Iran?

I guess the next thing we hear is CIA saying Bitcoin is predominantly used in Terrorism activity.  Unlike the Saint Dollar which is never being used for such cruel purposes of course.  Saint United States is always good, never bad.

Now we should expect new stupid nonsense Bitcoin regulations coming.  What was I expecting anyway, I have no idea.

[Maus0728]

Fuck Warren, Warren always been an enemy for Bitcoin (Elizabeth Warren, Warren Buffet).

I'm sure that everyone in the White House is pretty much against bitcoin, most of the influential staff there are geriatric so what can you do with those old people deciding how to live our lives? They want to consolidate even more power that's why I know that they're going to be hating on bitcoin no matter what, they're too stupid with technology that they can't find the compromise for coexistence. Regarding her backers, I'm sure that they're from the banking industry and it wouldn't be a surprise if some crypto mining companies are also backing this woman through lobbying, that's the only way that someone can be so sharp and courageous to speak up against something that's essentially just a tool.

[cr1776]

Warren is an incompetent authoritarian thug.  She, like many of the people she is attacking here, want power and control over everyone and everything else.  Her problem with them is that Iran's leadership wants power just like she does and she finds that upsetting.  The democrat party is the party of fascism, socialism, totalitarianism and communism in the US, and right were all those authoritarians find a home.

[cr1776]

Fuck Warren, Warren always been an enemy for Bitcoin (Elizabeth Warren, Warren Buffet).

This will be hard for miners in Iran, they're not anonymous since the government can know which house or place that consume a lot electricity, they can track it. Since miners will be forced to sell their coins to the Iranian central banks, the banks could manipulate the rates and make the miners won't earn much. Moreover, this make the newly mined coins forced to enter "centralized system".

She, like most of the rest of the elected members of her party, aren't just enemies of bitcoin, they are enemies of liberty worldwide.   Bitcoin takes power back from authoritarians everywhere who will rob everyone of the products of their lives if given the chance.  Think about how much has been stolen from the people of the world over the last century+ merely from inflation.  Of course that is the democrat party's modus operandi: they have the right to take parts (or all) of people's lives and they even fought the Civil War to defend their right to do so. 

Even more than 150 years later the evil of slavery animates their philosophy.  They just claim it is their right to do so because the "need to".

[Crypt0Gore]

I don't blame her, there are many in power who are just like Warren, the US government gets jealous or scared when they see that another country is growing bigger, they always want to be on top of the world and in control of everything.

How is Iran mining Bitcoin a problem? But yea this will make Iran more money and they will be able to fund themselves in terms of security and attack, I don't expect any country to like this unless they are Iran's ally.

If she made it to the upper rank in the government she won't last long a bit, he will probably end up putting the peaceful country into a bad situation, and everyone would hate her for it, warren is full of hatred that's all I know.

Let's not forget, that Warren is mother of Karen .

[SamReomo]

So those senators are indirectly attacking Bitcoin mining operations and now they found Iran as their target. It's a lame excuse to suppress the growth of Bitcoin which they can't suppress even if they make 100's of attempts.

I know they are anti-crypto but they should at least make some ethical moves instead of coming up with such weak stances. I'm pretty sure they won't get success in suppressing Bitcoin even if the come up with 100's of such excuses.

[Casdinyard]

Exactly as you're trying to put it OP. The US Senate is once again pushing the "iran and muslim country = evil" narrative to mobilize their forces and perhaps annex the country to gain access to their riches. Now they are trying to appeal to the general mass of the people who are afraid of bitcoin and crypto. Looping bitcoin with terrorism and all that shit when money does the very same thing but worse.

Also going to ask you Americans the real question here: why do you guys keep on hiring senile old men as legislators and literally the people who run your country? You know better than to hire someone with outdated views and ideas as stale as old bread, and yet why are these people still allowed to give a seat? Biden is the biggest example out here. The fuckwad is already 2 hard coughs away from kicking the bucket and he's still a part of the US presidential candidate run.

Here in the Philippines it's pretty much the same thing really, but at the very least, we're seeing progress and more and more young adults are being provided their seats, biggest shining example of this is the Gen Z mayor of one of our cities here who did more in the few years he's in service than the guy before him who took the seat for idk, decades?

[Aanuoluwatofunmi]

This stupid grandma Warren. A letter? Does this honorable senator want to increase American military presence in the middle east and escalate the situation into direct war because this grandma is anticrypto? Does she know what she is doing or is everything only because of corporate interests by her backers?

There are situations in which our quietness is more honorable than when we talk and confuse the whole matter on ground, some things are meant to be left unsaid even though we know that they are what our mouth can contain, to her now, she's trying to make a public appearance in other to get noticed and that's all, while to the crypto communities, its something that they wouldn't accept because it can render to them another implication on crypto with the government.