NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Bitcoin Holds Steady As US Extends Sanctions Against Russia To Cryptocurrency Mining

Saeed Hassan
Saeed Hassan
3 years ago
3 mins read
Bitcoin Mining

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Sanctions are being imposed on cryptocurrency mining companies for the first time in history. The US Treasury Department announced that it is taking action against virtual currency mining companies across Russia. This information came out when IMF issued a statement saying, “the Kremlin may employ these activities to avoid compliance with international economic punishment.”

In the wake of recent sanctions, cryptocurrencies have been barely affected. Bitcoin consolidated its gains while ‘altcoins’ also performed in green.

Related Reading | Crypto Quick Look: BTC Touches $42,000, ETH Notches10-Day Peak

For example, Bitcoin is holding at $41,500 – $42,000. On Wednesday, it managed to reach a high since April 11th, above $42,000. But selling pressure rejected the bulls’ advance and failed to confirm the overcoming of this important resistance level. This is crucial for the virtual token par excellence to regain $45,000.

Naeem Aslam, head of analysis at AvaTrade, warns that “traders know that Bitcoin has to stay above this critical price level for the’ bulls’ to succeed.” The shortest-term support is now back to $40,000.

Bitcoin Price
Bitcoin trading above $42,000 with a 1.75% increase | Source: BTC/USD chart from Tradingview.com

However, the expert warned that we should be careful. The IMF is in the spotlight because it says that some countries are using cryptocurrencies to avoid sanctions.

Countries like Russia and Iran use cryptocurrency to sell their oil and gas. However, there is also concern that they might be utilizing these resources for cryptocurrency mining, which provides another source of revenue and bypasses any sanctions against them.

“The IMF’s warning will certainly bring more regulatory attention to crypto companies, crypto exchanges, and crypto mining,” Aslam commented. 

U.S. Treasury Designates Facilitators of Russian Sanctions Evasion

OFAC, the United States Office of Foreign Assets Control, sanctioned Bitriver AG, a Swiss-based holding company for cryptocurrency mining operations with offices in Russia and ten subsidiaries. This is the first time the U.S. Treasury has sanctioned cryptocurrency miners. Bitriver is amid a token pre-sale called BTR. 

To curb Russia’s influence on cryptocurrency mining and trade worldwide, the U.S. has imposed new sanctions against BitRiver. The company operates vast server farms that sell virtual currency mining capacity internationally. In addition, this company helps monetize Russian natural resources.

The U.S. Treasury press release says that Russia has the advantage of energy resources and a cold climate for cryptocurrency mining. However, mining companies rely on imported computer equipment and fiat payments, making them vulnerable to sanctions.

The United States aims to make sure that no asset, no matter how complex, the Putin regime can use to reduce the impact of sanctions.”

Bitcoin And Altcoins Rising Despite The Risks

Despite these risks, the market positively responds and leaves rises for Bitcoin and altcoins. This has brought the total capitalization of cryptocurrencies to $1.92 trillion.

Related Reading | TA: Bitcoin Technicals Suggest Bulls Aim Sharp Move Above $42K

Ethereum’s price is currently trading between $3,000 and resistance at $3,200. The cryptocurrency has followed Bitcoin’s behavior and seeks to gain momentum toward overcoming the $42,000 resistance. 

Terra is one of the most promising tokens on today’s gainer’s list, up 6%, along with Solana and Polkadot.

             Featured image from Pixabay, chart from Tradingview.com
Tweet123Share196ShareSend
Saeed Hassan
Saeed Hassan

Saeed Hassan

Saeed Hassan is a finance and cryptocurrency enthusiast who has been writing about Bitcoin and the blockchain since 2016. He is an author at Bitcoinist and NewsBTC, and he also runs his blog, where he writes about all things related to crypto and finance. In his spare time, Saeed enjoys playing cricket and watching Marvel series.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Treasury Purchases Down Amid Record Holdings – What Does This Mean?

Bitcoin (BTC) experienced a moderate price rebound last week, rallying to around $113,000 before witnessing a minor setback. The crypto...

Semilore Faleti 7 hours ago
Bitcoin

Bitcoin Price Vs. BTC Treasury Companies: Interesting 1:4 Ratio Pops Up

Bitcoin has held up strongly compared to the companies that have adopted it as part of their treasury strategy, but...

Scott Matherson 9 hours ago
Bitcoin price

Bitcoin Price Holds Above $110,000—How Weak Job Data Could Fuel Next Wave

The Bitcoin price has enjoyed some level of resurgence over the past week, starting from below $108,000 to as high...

Opeyemi Sule 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Treibt die Schuldenkrise der USA Bitcoin auf 2 Millionen?

georgsteiner 1 hour ago
Bitcoin

Bitcoin Holds Key Support Amid Gravestone Doji – $120,000 Hangs In Balance

Godspower Owie 4 hours ago
Ethereum

Ethereum Exchange Balance Turns Negative For The First Time – Why This Is Bullish For Price

Scott Matherson 6 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後4ドル到達の可能性、新興ミームプロジェクトが200万ドルICOに迫る

    ドージコイン...

    5 hours ago
  • 仮想通貨おすすめ:新興レイヤー2プロジェクトがプレセールで1,420万ドル突破

    ...

    5 hours ago
  • シバコイン 今後の可能性と、新たに浮上する注目のレイヤー2プロジェクト

    シバコイン...

    5 hours ago
  • ビットコイン 今後の展望:長期眠っていたBTCウォレットが突然52億円分を移動

    ビットコイン...

    8 hours ago
  • パイネットワーク 価格分析:バンド収束から爆発的上昇の可能性、ウォルコフ指標が点灯

    パイネットワーク...

    8 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.