Tuesday, May 24, 2022
  • Login
Crypto Newsmart
No Result
View All Result
  • CRYPTO LIVE PRICE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
CRYPTO LIVE PRICE
  • CRYPTO LIVE PRICE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
No Result
View All Result
Crypto Newsmart
No Result
View All Result

Russian Crypto Mining Giant Bitriver Considers Challenging

by Crypto Newsmart
in Crypto Updates
Reading Time: 3 mins read
Russian Crypto Mining Giant Bitriver Considers Challenging US Sanctions – Mining Bitcoin News
9
VIEWS
Share on Facebook

Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions.

Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions

Leading Russian mining enterprise Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which recently designated the Swiss-registered company and a number of affiliated entities in a new round of sanctions against Russian businesses and individuals. Russia’s coin minting potential was specifically targeted with the new penalties imposed over the war in Ukraine.

In comments to the RIA Novosti news agency, Bitriver stated that the actions of the department are damaging its reputation and international business since the accusations are unfounded. The company is also convinced there are no legal grounds for the restrictions and intends to demand that American authorities remove it from the blacklist. It also emphasized:

Bitriver is not a government agency, but a 100% private company that in no way helps the Russian Federation to circumvent sanctions.

The Russian group also accuses the Treasury of unfair competition practices and lobbying for the U.S. mining industry, thus violating the rules of the World Trade Organization. Bitriver CEO Igor Runets describes the department’s move as “an attempt to change the global balance of power in favor of U.S. companies and remove the largest Russian player from the market.”

Bitriver claims that despite the restrictions, all its production facilities and offices in the Russian Federation are operating normally. The company also continues to provide services to its international clients who, it says, have confirmed their intentions to further cooperate with the Russian bitcoin mining operator.

Western allies have introduced several sanctions packages against Russia that have limited its access to global finances and foreign reserves. Concerns have been raised that the Russian government and citizens may use cryptocurrencies to evade the restrictions. Officials in Moscow have highlighted Russia’s competitive advantages for mining in terms of cheap energy resources and cool climate. A draft law tailored to regulate the sector was submitted to the parliament in April.

Tags in this story
Bitriver, Company, conflict, Crypto, crypto mining, Cryptocurrencies, Cryptocurrency, Group, Lawsuit, legal action, mining, mining operator, restrictions, Russia, russian, Sanctions, U.S. Treasury, Ukraine, War

Do you think Bitriver can successfully challenge U.S. sanctions against it? Share your thoughts on the subject in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

 

 

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Cryptocurrency Market Capitalization – How Many Altcoins Are There?


  • Trending
  • Comments
  • Latest
Why Terra Luna Crypto Crushed Recently? Can Terra Luna Recovery? www.cryptonewsmart.com

Why Terra Luna Crypto Crushed Recently? Can Terra Luna Recovery?

18 May 2022
How to Start Buying Cryptocurrency in 2020

How to Start Buying Cryptocurrency in 2022

20 April 2022

Phishing Criminals Steal $70,000 Using Beeple’s Hacked Twitter Account

23 May 2022
how many cryptocurrency are there

Cryptocurrency Market Capitalization – How Many Altcoins Are There?

3 May 2022
What Are Cryptocurrency NFTs ? How Do They Work?

What Are Cryptocurrency NFTs ? How Do They Work?

28 April 2022

Major Japanese Bank Sumitomo Mitsui Trust to Launch Cryptocurrency Custody Business – Bitcoin News

24 May 2022

Bitcoin Taker Buy/Sell Ratio Approaches Bullish Cross

24 May 2022

Phishing Criminals Steal $70,000 Using Beeple’s Hacked Twitter Account

23 May 2022

So-Called ‘Pharma Bro’ Martin Shkreli Turns ‘Crypto Bro’ — ‘I Started Using Uniswap in Prison’ – Bitcoin News

23 May 2022

Founder of Crypto Derivatives Platform Sentenced to 6 Months of Home Detention

22 May 2022

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • CRYPTO LIVE PRICE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETHEREUM
    • NFT’s
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}