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Bloomberg: Republican Lawmakers Seek Review of Bitmain and Cango Inc.
Summary: According to Bloomberg, Republican lawmaker Zachary Nunn is calling for a federal government review of Bitcoin mining hardware manufacturers Bitmain and Cango Inc., citing potential national security risks as their operations expand in the United States. Nunn pointed out that Bitmain and Cango appear to be expanding their US operations through complex ownership structures and ...
According to Bloomberg, Republican lawmaker Zachary Nunn is calling for a federal government review of Bitcoin mining hardware manufacturers Bitmain and Cango Inc., citing potential national security risks as their operations expand in the United States. Nunn pointed out that Bitmain and Cango appear to be expanding their US operations through complex ownership structures and financing arrangements that may not be fully transparent to regulators and the public. Representatives from Bitmain and Cango responded by stating that they strictly comply with all US laws and have no affiliations with any government or state-owned enterprises. Bitmain acknowledged rumors of acquiring Cango but denied them, as well as refuting claims of exploring direct ownership of US power plants and dismissing allegations that their mining machines could impact infrastructure. Cango declined to comment on market rumors or potential merger deals.
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Link: Bloomberg: Republican Lawmakers Seek Review of Bitmain and Cango Inc. [Copy]
