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Senators From the United States Introduces Legislation to Track Foreign Cryptocurrency Mining

Senator Maggie Hassan and Senator Joni Ernst announced the release of a new bipartisan bill that would help increase protection from both state and local governments from cyberattacks. The reason for their action is to make the United States aware that cryptocurrencies are being leveraged by other countries.
The bill announced by the Senators was introduced on September 27th to strengthen U.S. competitiveness over other countries by leveraging cryptocurrencies and how these countries have positioned themselves in this global economy. He added that the U.S. government needs to have a better hand in the role cryptocurrency is playing. He’s also pleased to have partnered with Senator Ernst to help ensure that the Treasury Department remains at the top of the use of cryptocurrency, thereby impacting the economic supply chain.

However, this isn’t the first time Senator Hassan has pondered on the issues of how the cryptocurrency market is playing in the economy. Previously he spoke on cybersecurity as regards crypto mining, how that they need to provide tools for their communities to protect them against cybercriminals, thereby protecting their online systems from getting hacked.

The bill sent by these Senators to the senate will require the Secretary of the Treasury to share detailed reports on digital currencies and global competitiveness with Congress, reporting how foreign countries are using and mining cryptocurrency. Also, how these operations by foreign countries are affecting supply chains such as computer chips and superconductors.

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