{"id":60416,"date":"2022-04-21T00:39:01","date_gmt":"2022-04-20T21:39:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60416"},"modified":"2025-09-05T03:09:39","modified_gmt":"2025-09-05T00:09:39","slug":"us-sanctions-bitriver-mining-group","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/us-sanctions-bitriver-mining-group\/","title":{"rendered":"US sanctions BitRiver mining group"},"content":{"rendered":"<p>The U.S. Treasury <a href=\\\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0731\\\">imposed sanctions<\/a> on the BitRiver group of companies, which operate cryptocurrency mining in Russia.<\/p>\n<p>According to the agency, BitRiver, established in 2017 as a mining data-center operator, currently has three offices in Russia. In 2021, BitRiver transferred ownership of its assets to the Swiss holding BitRiver AG.<\/p>\n<p>In addition, ten subsidiary entities were included in the sanctions list, including BitRiver Management Company LLC, BitRiver Rus LLC, Everest Group LLC, Siberian Minerals LLC, Tuvaasbest LLC, Trading House Asbest LLC, BitRiver-B LLC, BitRiver-K LLC, BitRiver-North LLC, BitRiver-Turma LLC.<\/p>\n<p>Thus, the U.S. Treasury has curtailed Russia&#8217;s ability to circumvent sanctions through mining. This marks the first instance of a cryptocurrency-mining company being placed on the sanctions list.<\/p>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">April 21, 2022 | 17:47<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span><\/p>\n<p>In a ForkLog interview, BitRiver founder and chief executive Igor Runets said that he sees the sanctions as unfair competition.<\/p>\n<p>According to him, the parent BitRiver was based in Switzerland and strictly adhered to AML\/KYC standards, and the private BitRiver company listed in the sanctions did not provide services to Russian state institutions and did not work with Washington-sanctioned clients.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe actions of the United States should be regarded as interference in the crypto-mining industry, unfair competition and an attempt to change the global balance of power in favour of American companies,\u201d Runets says.<\/p>\n<\/blockquote>\n<p>He also said that the company\u2019s production sites and offices in Russia continue to operate normally.<\/p>\n<\/div>\n<p><span data-descr=\\\"Office of Foreign Assets Control, U.S. Department of the Treasury\\\" class=\\\"old_tooltip\\\">OFAC<\/span> also targeted the Russian entrepreneur Konstantin Malofeev, owner of the Tsargrad group of companies, who media had previously linked to the <a href=\\\"https:\/\/forklog.io\/bbc-k-pohishheniyu-bitkoinov-s-kriptovalyutnoj-birzhi-wex-prichasten-vladelets-tsargrada-konstantin-malofeev\/\\\">theft of bitcoins from the WEX exchange<\/a>.<\/p>\n<p>The agency blocked any BitRiver property and the companies linked to Malofeev within U.S. jurisdiction. U.S. residents and citizens are barred from dealing with them.<\/p>\n<p>Earlier in April, <a href=\\\"https:\/\/forklog.io\/hydra-i-bitkoin-birzha-garantex-popali-pod-sanktsii-ssha\/\\\">Hydra darknet marketplace and the Garantex cryptocurrency exchange<\/a> were placed under U.S. sanctions.<\/p>\n<p>Follow ForkLog\u2019s bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Treasury has imposed sanctions on the BitRiver group of companies involved in cryptocurrency mining in Russia.<\/p>\n","protected":false},"author":1,"featured_media":60417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1567,2300,1137,27,686,26],"class_list":["post-60416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitriver","tag-crisis-2022","tag-cryptocurrency-mining","tag-russia","tag-sanctions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"83","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=60416"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60416\/revisions"}],"predecessor-version":[{"id":60418,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60416\/revisions\/60418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/60417"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=60416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=60416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=60416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}