Russian Crypto Mining Giant Bitriver Considers Challenging US Sanctions – Mining Bitcoin News

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Russian Crypto Mining Giant Bitriver Considers Challenging US Sanctions
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Russia’s Bitriver, one of the largest crypto mining data center operators, may take legal action against the U.S. decision to impose sanctions on it. The company insists it will not help the Russian government circumvent international restrictions.

Biriver rejects U.S. allegations as groundless, sees no legal basis for sanctions

Leading Russian mining company Bitriver is considering a lawsuit against the U.S. Treasury Department, which recently named the Swiss-registered company and some affiliated entities in a new round of sanctions against Russian companies and individuals. Russia’s coin-minting potential is particularly relevant for the new penalties imposed by the Ukrainian war.

In comments to the RIA Novosti news agency, Bitriver said the department’s actions were damaging its reputation and international business because the allegations were unfounded. The company is also convinced that the restrictions have no legal basis and intends to ask U.S. authorities to remove them from the blacklist. It also highlights:

Bidriver is not a government agency, but a 100% private company that will never help the Russian Federation evade sanctions.

The Russian group also accused the Treasury Department of violating World Trade Organization rules by accusing the Treasury of unfair competition practices and lobbying for the U.S. mining industry. Bitriver CEO Igor Runets described the unit’s move as “an attempt to shift the global balance of power in favor of U.S. companies and remove the largest Russian player from the market.”

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Bidriver claims that despite the restrictions, all of its production facilities and offices in the Russian Federation are operating normally. The company has also continued to serve its international clients, who have reportedly confirmed their interest in further cooperation with the Russian bitcoin mining operator.

Western allies have imposed several sanctions on Russia, limiting its access to global financial and foreign exchange reserves. There are concerns that the Russian government and citizens may use cryptocurrencies to evade restrictions. Officials in Moscow have highlighted Russia’s competitive advantage in mining on cheap energy and cool climates. A draft law tailored to regulate the industry was presented to 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 Biriver can successfully challenge U.S. sanctions against it? Share your thoughts on the topic in the comments section below.

Lubomir Tasev

Lubomir Tassev, a journalist from tech-savvy Eastern Europe, likes Hitchens’ famous quote: “Being a writer is who I am, not what I do.” Beyond crypto, blockchain and fintech, international politics and The economy is two other sources of inspiration.

Image credits: Shutterstock, Pixabay, Wiki Commons

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