{"id":434761,"date":"2022-04-21T00:10:00","date_gmt":"2022-04-20T21:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-treasury-dept-lists-crypto-mining-firm-in-latest-sanctions-against-russia\/"},"modified":"2022-04-21T00:10:00","modified_gmt":"2022-04-20T21:10:00","slug":"us-treasury-dept-lists-crypto-mining-firm-in-latest-sanctions-against-russia","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-treasury-dept-lists-crypto-mining-firm-in-latest-sanctions-against-russia\/","title":{"rendered":"# US Treasury Dept lists crypto mining firm in latest sanctions against Russia"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e55f1d386b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e55f1d386b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-treasury-dept-lists-crypto-mining-firm-in-latest-sanctions-against-russia\/#%E2%80%9D_US_Treasury_Dept_lists_crypto_mining_firm_in_latest_sanctions_against_Russia_%E2%80%9C\" >&#8221; US Treasury Dept lists crypto mining firm in latest sanctions against Russia &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_Treasury_Dept_lists_crypto_mining_firm_in_latest_sanctions_against_Russia_%E2%80%9C\"><\/span>&#8221; US Treasury Dept lists crypto mining firm in latest sanctions against Russia &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTBiYTgzODEtOTU3MC00MWIzLWI1OTctYzJiNzg5YzYyZWQ4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The United States Treasury Department has added Russia-based crypto mining services provider BitRiver and several subsidiaries as firms facilitating the evasion of sanctions.\u00a0<\/p>\n<p>In a Wednesday announcement, the Treasury Department\u2019s Office of Foreign Assets Control, or OFAC, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0731\">said<\/a> it was taking action against BitRiver AG as well as 10 of its Russia-based subsidiaries, naming the companies as \u2018Specially Designated Nationals\u2019. Firms and individuals listed as such by OFAC have their assets blocked and \u201cU.S. persons are <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly prohibited from dealing with them.\u201d <\/p>\n<p>According to the U.S. Treasury, the actions against BitRiver and its subsidiaries were based on them allegedly facilitating \u201csanctions evasion for Russian entities,\u201d hinting crypto may have played a role in helping Russia\u2019s government circumvent U.S. economic measures leveled in response to the invasion of Ukraine. The government department said BitRiver operated server farms selling crypto mining capacity internationally, which helped Russia \u201cmonetize its natural resources.\u201d <\/p>\n<p>\u201cRussia has a comparative advantage in crypto mining due to energy resources and a cold climate,\u201d said Treasury. \u201cHowever, mining companies rely on imported computer equipment and fiat payments, which makes them vulnerable to sanctions. The United States is committed to ensuring that no asset, no matter how complex, becomes a mechanism for the Putin regime to offset the impact of sanctions.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, the U.S. is targeting Russian financial and operational support networks that attempt to evade international sanctions.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/a59UJKRaQJ\">https:\/\/t.co\/a59UJKRaQJ<\/a><\/p>\n<p>\u2014 Treasury Department (@USTreasury) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/USTreasury\/status\/1516843188438372360?ref_src=twsrc%5Etfw\">April 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe latest sanctions followed OFAC warning U.S. residents not to use digital assets to benefit certain Russia-based entities and individuals. In April, the government department announced it had targeted Russia-based darknet marketplace Hydra and virtual currency exchange Garantex for alleged connections to payments from ransomware attacks and other cybercrimes.<\/p>\n<p>\u201cTreasury can and will target those who evade, attempt to evade, or aid the evasion of U.S. sanctions against Russia, as they are helping support Putin\u2019s brutal war of choice,\u201d said Brian Nelson, Under Secretary at the office of terrorism and financial intelligence.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Treasury official acknowledges most crypto transactions are &#8216;legitimate&#8217; but still anticipates additional sanctions<\/em><\/strong><\/p>\n<p>Prior to the invasion of Ukraine, Russia\u2019s central bank proposed banning crypto mining, but President Vladmir Putin said at the time the industry had an advantage in the country due to the \u201csurplus of electricity and the well-trained personnel.\u201d Alexey Yakovlev, director of the financial policy department at Russia\u2019s Ministry of Finance, has since suggested the government support industrial-level cryptocurrency mining in the country and it \u201cprobably does not make sense to ban household mining.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-treasury-dept-lists-crypto-mining-firm-in-latest-sanctions-against-russia\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US Treasury Dept lists crypto mining firm in latest sanctions against Russia &#8220; The United States Treasury Department has added Russia-based crypto mining services provider BitRiver and several subsidiaries as firms facilitating the evasion of sanctions.\u00a0 In a Wednesday announcement, the Treasury Department\u2019s Office of Foreign Assets Control, or OFAC, said it was taking&#8230;<\/p>\n","protected":false},"author":1,"featured_media":434762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTBiYTgzODEtOTU3MC00MWIzLWI1OTctYzJiNzg5YzYyZWQ4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,75042,71511,70934,4975,71523,67874],"class_list":["post-434761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-mining","tag-government","tag-regulation","tag-russia","tag-sanctions","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=434761"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/434762"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=434761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=434761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=434761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}