Dapper Labs has suspended all Russian user accounts
Dapper Labs announced Thursday that it will suspend all Russian accounts following sanctions imposed by the EU. The latest sanctions include a blanket ban on all crypto-related services in the country due to growing Russian activity in Ukraine. Users in Russia are now unable to buy, sell, trade or withdraw their Dapper Labs NFTs.
Why Dapper Labs Banned Russian Account?
According to Dapper Labs, their payment and service partners are subject to EU regulations and directives. As a result, the recent EU sanctions directly affect all existing Russian accounts The European Union announced the move to reduce aggression by warring nations in Ukraine. The ban follows repeated Russian missile strikes on Kiev on Monday, October 3.
“It is now prohibited to provide crypto-asset wallets, accounts, or custody services to accounts with connections to Russia, regardless of wallet size.” – Read the latest statement from Dapper Labs.
Furthermore, the sanctions also include a complete ban on cross-border crypto transfers between Russia and the EU. “These (sanctions) are significant because they will potentially undermine Russia’s industrial capacity as it is highly dependent on imports of these services,” the European Commission said in its latest press release.
What steps can Russian users take?
Dapper Labs has clearly stated that they have not closed any accounts in Russia following the latest regulations. Russian account holders will still be able to access and view their NFTs. Apart from this, all NFTs purchased by users will belong to them. Furthermore, any Dapper balance in the user’s account will not be affected.
Nevertheless, the ban received mixed reactions on crypto Twitter. While some users agree, others argue that banning Russians means that decentralization is lost in the process.
I don’t care about it @dapperlabs or anyone who…
If you “freeze” an account, you are actively censoring an industry that was founded around resisting censorship.
“Bb-but mAiNsTrEaM aDoPtIoN centering is needed…” I don’t care. You are a net negative in space.
— shas
(@XBT002) October 9, 2022
Who is Dapper Lab?
Dapper Lab is a Canada-based Web3 startup behind leading NFT projects such as NBA Top Shot, NFL All Day, UFC Strike and Flow Blockchain. The company is at the forefront of creating a high-impact digital world, starting with games and entertainment
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