What's Hot

    Pavel Lerner, co-founder of the EXMO crypto exchange, was detained in Spain

    03.02.2023

    Key Ripple-Backed XRP Ecosystem Shut Down

    03.02.2023

    Kathy Wood called bitcoin the best financial insurance

    03.02.2023
    Facebook Twitter Instagram
    Friday, February 3
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Mining»Ethermine mining pool stopped working with users from Russia and Belarus
    66a99995f07afb3f0fd0dcf8b0d5fd78458b33a1
    Mining

    Ethermine mining pool stopped working with users from Russia and Belarus

    AdministratorBy Administrator04.03.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    bt-crow.com

    04 March 2022 13:13, UTC

    Reading time: ~2 m


    Bitfly, which owns the Ethermine mining pool, has updated its user agreement, according to which the pool stops servicing Russian and Belarusian miners.

    As explained by Bitfly, the decision was made in compliance with the law on combating money laundering and combating illegal financial transactions. The prerequisite was a military special operation of Russian troops in eastern Ukraine. The restrictive measures of the Ethermine pool “are aimed at complying with the sanctions requirements of the regulators” – so that Russian and Belarusian users cannot bypass US government sanctions using cryptocurrencies. Despite the policy update, Ethermine has yet to take technical action against users.

    Last week, the Ethereum mining pool Flexpool also stopped working with users from Russia, returning the funds to their wallets.

    However, not all cryptocurrency platforms are ready to immediately refuse to serve Russian citizens. For example, today, March 4, Coinbase CEO Brian Armstrong tweeted that Russian oligarchs are unlikely to use cryptocurrencies to circumvent sanctions. Thanks to the openness and transparency of the blockchain, illegal transactions with cryptocurrencies are much easier to trace than transactions in cash or other assets, Armstrong said.

    The head of Coinbase believes that everyone has the right to access basic financial services, because after the fall of the Russian ruble, ordinary users from the Russian Federation use crypto assets as a lifeline. Including users who do not support the actions of their government, since sanctions affect all citizens of the country.

    However, the head of Coinbase warns that if the US government imposes a ban, the exchange will be forced to comply with it. According to him, any American company must comply with sanctions laws, even if it works with cryptocurrencies.

    Recently, former US presidential candidate Hillary Clinton called on Western marketplaces and cryptocurrency services to block transactions for Russians in order to isolate them from the cryptocurrency market.




    #Ethermine #mining #pool #stopped #working #users #Russia #Belarus

    Belarus Ethermine mining pool Russia stopped users working
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    Core Scientific repaid loan with bitcoin miners

    03.02.2023

    The meme token rally has stopped. What does it mean?

    03.02.2023

    The meme token rally has stopped. What does it mean?

    03.02.2023

    Two mining farms discovered in the Irkutsk Regional Psychiatric Hospital

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Pavel Lerner, co-founder of the EXMO crypto exchange, was detained in Spain
    • Key Ripple-Backed XRP Ecosystem Shut Down
    • Kathy Wood called bitcoin the best financial insurance
    • ​User paid a fee of $32,000 for a transfer on the Ethereum network
    • Twitter Suspends Doge Tipping Tool
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.