The American government added a new one to the sanctions it imposed on Russia after its invasion of Ukraine. This time, the sanctioned name, bitriver became a cryptocurrency mining company.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Bitriver and its ten subsidiaries as of Wednesday. sanctions list added.
The statement made by OFAC on the subject included the following statements:
“The Ministry has also taken action against companies involved in the virtual currency mining industry in Russia. These companies use the huge server farms they operate to provide international customers with the necessary facilities for virtual currency mining, thus contributing to Russia’s income from its natural resources. Russia is in an advantageous position compared to its competitors in cryptocurrency mining due to its energy resources and cold climate. However, mining companies are dependent on imported computer equipment and payments in fiat currency, which leaves them vulnerable to possible sanctions.”
Any cryptocurrency wallet will not be affected by the sanctions imposed by the US this time.
Founded in Russia in 2017, Bitriver has three different offices in the country today. In addition, Bitriver operates in China, Japan, United Arab Emirates, South Korea, Switzerland, Germany and the USA.
According to the Treasury Department’s statement, Bitriver is legally able to hold the company’s assets. to a company in Switzerland had transferred. Bitriver has not yet made a statement on the subject.