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The crypto industry has received a “strong signal” from the US that it needs to implement solutions that will prevent Russia from evading sanctions through mining. David Carlyle,
The crypto industry has received a “strong signal” from the US that it needs to implement solutions that will prevent Russia from evading sanctions through mining. David Carlyle, Elliptic Executive Vice President of Policy and Regulation
According to him, “unprecedented” sanctions OFAC Regarding the Russian mining centers operator, BitRiver demonstrates the department’s genuine concern about it.
“The crypto-asset industry must implement compliance solutions and processes to ensure they can prevent prohibited transactions and services involving blacklisted assets,” Carlyle said in a comment to ForkLog.
Elliptic previously estimated that Iran, under Western sanctions, earned up to $1 billion from bitcoin mining. OFAC will make every effort to prevent Russia from pursuing such a scenario, Carlyle was convinced.
Recall that on April 20, the US Treasury imposed sanctions against the BitRiver group of companies engaged in mining cryptocurrencies in the Russian Federation.
In March, Elliptic talked about Russia’s risks of avoiding sanctions through mining and hackers.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
