BitRiver, one of Russia’s largest crypto mining operators, is preparing to sue US authorities.
BitRiver is considering suing the US Treasury Department for being added to the sanctions list. The company also accused the US of promoting unfair competition and violating WTO rules.
BitRiver described the US accusations as “baseless and untrue”. The company stated in its press release that they are a 100% private company with no ties to the Russian government and that they do not help the regime in the country to circumvent the sanctions. In addition, it was stated that the sanctions applied for unfair reasons caused a loss of reputation.
The US Treasury Department announced its sanctions on April 20 that prohibit BitRiver from engaging in business with US citizens. Officials noted that Russia has significant “comparative advantages” in cryptocurrency mining, raising concerns that individuals or companies could use crypto to evade sanctions.
BitRiver denied this, stating that they always adhere to corporate governance and comply with the laws in the countries in which they operate.
The company accused the US authorities of irresponsibility, tying the Treasury Department’s sanction to “protect local companies”.
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