U.S. Treasury: Russian crypto miners added to sanctions list

The US Treasury Department has imposed sanctions on the BitRiver group of companies, which is engaged in cryptocurrency mining in Russia.

It is worth noting that even the Swiss jurisdiction of the beneficiary did not help the Russian company — in 2021, BitRiver transferred ownership of its assets to the Swiss holding BitRiver AG. However, due to the presence of three offices in Russia and the company’s activities in the Russian legal field, sanctions were still imposed.

Thus, the US has blocked a potential way to circumvent sanctions through mining. By the way, this is the first time that mining companies have been included in sanctions lists.

Inclusion in such a list implies a ban on cooperation with the company by any US residents and citizens.