According to a final report from ReutersThe American authorities recently started returning Chinese equipment that was confiscated for cryptocurrency mining, as shared by two market leaders.
Cryptocurrency miners in particular are powerful computers that compete to solve difficult mathematical problems. This process helps to maintain the blockchain, the technology behind digital currencies and miners are rewarded with new cryptocurrency.
“Thousands of mine units have been released,” says Taras Kulyk, CEO of Synteq Digital, a broker of Cryptocurrency Equipment. The moment up to 10,000 units were trapped in various American ports at some point. He also said that some officials at US Customs and Border Protection (CBP) seemed to be against Bitcoin -Mybouw and made life difficult for industry.
According to BlockSpace, the American customs and the Federal Communications Commission began to grasp certain Bitcoin mining equipment at the end of last year. In particular, some machines may have been stopped because they contain Sophgo chips, a Chinese chip company that is limited from trade.
The release of a non -specified amount of cryptocurrency -mining equipment takes place in a time of increased tensions between the US and China, in particular because of the current trade war and safety problems led by US authorities. These concerns have been present since the later months of the BIDEN administration.
Ethan Vera, COO of Luxor Technology, noted that although some of the seized shipments are now being returned, the majority of them are being held. Both Vera and Taras Kulyk, CEO of Synteq Digital, shared that the authorities had cited concern about radio frequency emissions of the mine machines, which they rejected, which suggests that the emissions of the machines were not real problem.
This situation is part of a broader context of research by the US government on Chinese technology, especially in sectors such as telecommunications and computer use.
The US has expressed the concerns from safety about foreign equipment, in particular of Chinese companies, for fear that they can be used for espionage or other malignant activities. As a result, the government has imposed restrictions on certain technical imports, and these concerns have also been expanded to cryptocurrency and mining equipment.
