Republican presidential candidate Asa Hutchinson spoke this week at a cryptocurrency conference in Manchester. The former governor of Arkansas made it clear during the forum that he supports the form of digital currency. "I support the cryptocurrency industry and I want it to grow. I want it to prosper, to be successful, to compete and to win," Hutchinson said. This election season, News 9 is partnering with PolitiFact to fact-check presidential hopefuls from both parties. On Monday, Hutchinson claimed that China is allowed to mine cryptocurrencies in the United States. "It doesn't make sense to me, if we are trying to prohibit communist China from buying agricultural land in the United States, why are we allowing them to mining cryptocurrency in the United States of America?" Hutchinson said. PolitiFact, citing a New York Times investigation, said Hutchinson is largely right. "There are a number of China-connected companies in this space in the United States," said PolitiFact's Rebecca Catalanello. "And there's been a big influx into that in recent years, partly because China banned cyber mining." Crypto mining involves mining new currency through a process of using computers to solve mathematical equations. Although some federal safeguards are in place, analysts said more needs to be done. "There seems to be agreement that these companies have raised national security concerns," Catalanello said.
Republican presidential candidate Asa Hutchinson spoke this week at a cryptocurrency conference in Manchester.
The former governor of Arkansas made it clear during the forum that he supports the form of digital currency.
โI support the crypto industry and I want it to grow, I want it to prosper, and we succeed and we compete and we win,โ Hutchinson said.
This election season, News 9 is partnering with PolitiFact to fact-check presidential hopefuls from both parties. On Monday, Hutchinson claimed that China is allowed to mine cryptocurrencies in the United States.
"It doesn't make sense to me, if we are trying to prohibit communist China from buying agricultural land in the United States, why are we allowing them to do crypto mining in the United States of America?" Hutchinson said.
PolitiFact, citing a New York Times investigation, said Hutchinson is largely right.
"There are a number of China-connected companies in this space in the United States," said PolitiFact's Rebecca Catalanello. "And there's been a big influx into that in recent years, partly because China banned cyber mining."
Crypto mining involves mining new currency through a process of using computers to solve mathematical equations. Although some federal safeguards are in place, analysts said more needs to be done.
"There seems to be agreement that these companies have raised national security concerns," Catalanello said.
