Dapper Labs Allows Users Affected By The EU Sanctions To Transfer NFT
According to an email given to subscribers and obtained by The Block, Dapper Labs is now allowing users affected by the European Union’s sanctions against Russia to transfer their NBA Top Shot, NFL All Day, and UFC Strike NFTs from their Dapper Wallet to a Blocto Wallet.
The firm also states that its previous effort to ban accounts tied to Russia was prompted by a mandate from Circle, the big peer-to-peer payments technology company behind the stablecoin USDC and Dapper’s payment processing and stored value service partner.
The Dapper team wrote in the email:
“Circle holds custody over customer funds, and because they required immediate action, we had to comply with their direction in this instance and suspend accounts with connections to Russia, but we did not close any of these accounts.”
Dapper states that it is attempting to give help to the greatest degree possible within the law, as well as to find solutions for account holders. One such approach is the development of alternative NFT custody systems that let users shift NFTs away from Dapper.
Dapper Labs suspended accounts with connections to Russia on October 7 after receiving emails delivered to vulnerable individuals, CoinCu previously reported.
In accordance with recent EU sanctions, Dapper Labs is not alone in taking action against Russian-linked accounts. Last Monday, Blockchain.com and Crypto.com issued letters to impacted users outlining account limits, with the former permitting custodial cash to be withdrawn.
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
Harold
CoinCu News
Author
NFTs News
Dapper Labs Allows Users Affected By The EU Sanctions To Transfer NFT
According to an email given to subscribers and obtained by The Block, Dapper Labs is now allowing users affected by the European Union’s sanctions against Russia to transfer their NBA Top Shot, NFL All Day, and UFC Strike NFTs from their Dapper Wallet to a Blocto Wallet.
The firm also states that its previous effort to ban accounts tied to Russia was prompted by a mandate from Circle, the big peer-to-peer payments technology company behind the stablecoin USDC and Dapper’s payment processing and stored value service partner.
The Dapper team wrote in the email:
“Circle holds custody over customer funds, and because they required immediate action, we had to comply with their direction in this instance and suspend accounts with connections to Russia, but we did not close any of these accounts.”
Dapper states that it is attempting to give help to the greatest degree possible within the law, as well as to find solutions for account holders. One such approach is the development of alternative NFT custody systems that let users shift NFTs away from Dapper.
Dapper Labs suspended accounts with connections to Russia on October 7 after receiving emails delivered to vulnerable individuals, CoinCu previously reported.
In accordance with recent EU sanctions, Dapper Labs is not alone in taking action against Russian-linked accounts. Last Monday, Blockchain.com and Crypto.com issued letters to impacted users outlining account limits, with the former permitting custodial cash to be withdrawn.
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
Harold
CoinCu News
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