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Dapper Labs explains why it freezes Russian-linked accounts

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Dapper Labs explains why it freezes Russian-linked accounts 4

The popular NFT creator & game company Dapper Labs followed the European Union’s sanctions against Russian users.

Dapper Labs is a Vancouver-based blockchain NFT company. This company has a specialisation in making blockchain & non-blockchain backed video games. The company developed popular games such as Cryptokitties, NBA Top Shot, and Cheeze Wizards. 

In the last few days, Dapper Labs faced negative PR because many people reported on social media platforms that they were banned by the company and their account was frozen without any prior information or any kind of reason. 

Finally, DapperLab talked about these things and confirmed that sanctions imposed by the European Union Government against Russia and Russian nationals were extended on 6 October, that is why many users faced such issues. 

The NFT company explained that extended EU sanctions on Russia included an advisory for all financial services to suspend operations for Russian users, which applied to the crypto companies. 

Dapper Labs also confirmed that following the sanctions was necessary because payment processing services for the company are situated in the EU and also the company confirmed that blocked users still will be owners of NFTs & also they will be able to see the NFTs pictures. 

Russia moving toward Crypto

Due to the Russia vs Ukraine conflict, many western countries imposed financial & trade sanctions on Russia. Now Russian government agencies are trying to figure out the best possible way to bypass the sanctions. 

In recent months, the Russian central bank & Finance Ministry worked with a few other agencies to bring a regulatory framework to allow businesses to trade goods & services with the use of decentralized crypto-supported payment methods, to eliminate the role of the US dollar. 

Read also: Ripple co-founder supports Charles Hoskinson over community dispute

Dapper Labs explains why it freezes Russian-linked accounts

 

https://bitcoinik.com/dapper-labs-explains-why-it-freezes-russian-linked-accounts/feed/

https://bitcoinik.com/dapper-labs-explains-why-it-freezes-russian-linked-accounts/feed/

 

 

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