U.S. Cracks Down on Russian Crypto Miners

U.S. Cracks Down on Russian Crypto Miners

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The U.S. Treasury has announced its intention to sanction Bitcoin miners operating in Russia, extending its international sanctions’ reach towards cryptocurrency. The pressure continues to pile on the Russian state following its invasion of Ukraine as in the third month of conflict, with the international community still looking for ways to strangle Russia’s economic power. Cryptocurrencies stood as one of the last sanction-free bastions. No more.

“By operating vast server farms that sell virtual currency mining capacity internationally, these companies help Russia monetize its natural resources,” Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in a press release early Wednesday afternoon.

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