Dapper Labs Explains Why It Is Blocking Russian Accounts

Dapper Labs, an NFT startup, has verified that it is restricting cryptocurrency accounts with connections to Russia and said that this is due to new EU sanctions against Russia.

Companies are not allowed to provide cryptocurrency wallet, account, or custody services to accounts connected to Russia under the restrictions. It further stated that the EU, which has instructed it to comply with the penalties, is where its payment service is situated.

According to the firm, Russian accounts are no longer permitted to make other transactions, withdraw NFTs from the platform, or buy, sell, or give NFTs.

Users still possess their NFTs and are able to view them, according to Dapper Labs, even though they are unable to access them.

Dapper Labs regarding the limitations

The announcement follows several complaints from cryptocurrency users who were unable to access their accounts and the disclosure of email exchanges from Dapper Labs regarding the limitations.

CryptoKitties and the Flow blockchain, which is used by the NFT project NBA Top Shot and other projects, were both developed by Dapper Labs.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

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Annie

CoinCu News

Dapper Labs Explains Why It Is Blocking Russian Accounts

Dapper Labs, an NFT startup, has verified that it is restricting cryptocurrency accounts with connections to Russia and said that this is due to new EU sanctions against Russia.

Companies are not allowed to provide cryptocurrency wallet, account, or custody services to accounts connected to Russia under the restrictions. It further stated that the EU, which has instructed it to comply with the penalties, is where its payment service is situated.

According to the firm, Russian accounts are no longer permitted to make other transactions, withdraw NFTs from the platform, or buy, sell, or give NFTs.

Users still possess their NFTs and are able to view them, according to Dapper Labs, even though they are unable to access them.

Dapper Labs regarding the limitations

The announcement follows several complaints from cryptocurrency users who were unable to access their accounts and the disclosure of email exchanges from Dapper Labs regarding the limitations.

CryptoKitties and the Flow blockchain, which is used by the NFT project NBA Top Shot and other projects, were both developed by Dapper Labs.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

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