Laura Black Quoted by Foreign Investment Watch on CFIUS Jurisdiction over ‘Greenfield’ Projects

For its article “Is CFIUS reviewing cryptomining facilities owned by Chinese entities?” Foreign Investment Watch quoted Akin international trade senior counsel Laura Black. The article references a  recent special report by The New York Times to discuss the issue of Committee on Foreign Investment in the United States (CFIUS) jurisdiction concerning cryptomining facilities, potentially dependent on whether the entities are categorized as “greenfield” projects, as well as the national security risks posed by cryptocurrency mining.

The article notes that greenfield projects typically refer to real estate projects, and the scope of CFIUS jurisdiction in these cases has remained uncertain. Laura, who previously served as Director of Policy and International Relations, CFIUS, Office of Investment Security, said “While CFIUS doesn’t have jurisdiction over greenfield transactions as a general matter, it does have jurisdiction over certain real estate transactions within specified proximity to identified military sites.”

Laura noted that one of the cryptomining facilities discussed in the Times article is, roughly, a mile from Warren Air Force Base, a location explicitly identified in CFIUS’s real estate regulations, adding, “Purchases or certain leases of land by Chinese persons within one mile of this base or within specified townships around the base would be covered under the regulations, and therefore CFIUS could have jurisdiction, depending on the exact location.”