Published: 21.04.2022
Article reading time:
1 min.
On April 20, the US Treasury Department’s Office of Foreign Assets Control added the Russian mining company BitRiver, as well as 10 of its subsidiaries, to the sanctions list.
This is the first time sanctions have been imposed on Russian cryptocurrency companies. And, most likely, other mining and cryptocurrency firms from Russia and Belarus will appear in future sanctions packages. At the same time, the US Treasury did not indicate exactly how BitRiver is connected with Putin or other high-ranking officials and the military.
“By operating vast server farms that are sold internationally to mine cryptocurrencies, these companies are helping Russia monetize its natural resources. The United States believes that no asset, however complex, should be a mechanism for the Putin regime to offset the impact of sanctions,” the agency said in a statement.
At the end of March, the Ministry of Energy of the Russian Federation called on the government to speed up the legalization of mining in the country. Indeed, large-scale work is underway to legalize and regulate cryptocurrencies in Russia. Recently, the Ministry of Finance presented a revised version of the bill “On Digital Currency”.
Source: Bits
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