The largest data center services provider of Russia, BitRiver is mulling over filing a lawsuit against the United States Treasury Department for adding the firm to the sanction list last month. Moreover, the firm accused the United States of breaching WTO rules through the act of promoting unfair competition and lobbying for the United States mining industry.
As per the press release, BitRiver argued that it is a hundred percent private organization with no affiliated interest with the Russian government, thus asserting innocence of assisting the regime bypass sanctions.
On 20th April, the Treasury Department declared sanctions against BitRiver, banning it from having business relations with natives of the United States. The authority mentioned Russia has significant “comparative advantages” in virtual asset mining, expressing apprehensions that individuals or firms may use digital currencies to dodge sanctions.
In spite of the imposed sanction that may harm its businesses, BitRiver reasserted that the facility continued to operate usually and communicate with oversea clients,
“At present, all enterprises, production sites and offices of BitRiver in Russia are operating as usual. The company continues to provide services to international clients who have confirmed their further cooperation and these are the majority.”
Nonetheless, the digital asset industry tended to believe otherwise, seeing the use of virtual currencies like BTC to elude sanctions as a myth. Changpeng Zhao, the CEO of Binance mentioned in an interview last month that “nobody smart” would choose virtual currencies to do that because it is “too traceable,” and governments around the world are getting better at tracking such transactions.
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