Two US senators have presented a new bill to track foreign crypto miners. Senator Maggie Hassan (D-NH) and Jonny Ernst (R-IA) have teamed up to present the bill on September 27th.
The bill would require the Treasury Secretary to submit reports to Congress on digital currencies and global competitiveness. These reports will contain detailed information about foreign countries and how they use and mine cryptocurrencies. In addition, how these processes affect the supply chain of superconductors and computer chips.
The proposed bill also requires information sharing with several committees, including the Agriculture, Food and Forestry Committee, the Banking, Housing and Urban Development Committee, and the Finance Committee.
In a press release on the bill, Senator Hassan stated that the bill was proposed to make the United States more competitive so the government can better deal with the role of cryptocurrency in the global economy and how other countries use it.
“I’m glad to partner across the aisle with Senator Ernst to help ensure that the Treasury Department stays on top of the use of cryptocurrency, including how it can impact our supply chains.” Hassan saidHassan said
Hassan Targeting Cybercriminals
However, this is not the first time Senator Hassan has brought up the topic of the cryptocurrency market. Although the latest example focuses on crypto miners, the senator previously talked about cyber security.
On September 17, she made a statement on the matter. This came after meeting New Hampshire and local officials to discuss the importance of cybersecurity. The meeting came after it became known that cybercriminals had targeted the city of Peterborough.
In addition, Senator Hassan successfully watched the Senate pass a law. With the State and Local Cyber Security Improvement Act, the Department of Homeland Security approves a new funding program specifically for combating cyber attacks. If a bill is signed, it will provide nearly $1 billion in funding.