Dapper labs has stopped payment services from NFT owners affiliated with Russia, as a result of European Union Sanctions.
In a recent Blog post, Dapper stated, “It is now prohibited to provide crypto-asset wallet, account or custody services of any value to accounts with connections to Russia.”
If you are affiliated with Russia, you can still look at your NFTs, but gifting of tokens, selling, buying, or transferring of NFTs is prohibited. They apologized for the inconvenience stating;
“We sincerely apologize for any inconvenience and the impact it may have on you. We hope this situation is resolved soon”.
Dapper Labs is a gaming company that is headed by many popular NFT projects like NBA Top shot and Cryptokitties.
The European Union confirmed a ban on providing services to Russians last week. This introduced the eighth set of political and economic measures against Russia after its invasion of Ukraine in February 2022.
This was a further tightening of a previous rule that limited cryptocurrency payments to European wallets to 10,000 euros, which was a measure to prevent crypto from being used to bypass restrictions on large bank transfers.
In a statement on Thursday, 6th October, the European Union said; “The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet,”
Dapperlabs wasn’t the first company this week to do something of this format as the website of crypto exchange OKX was recently black listed in Russia. As regulations tighten, we are likely to see more restrictions in the coming weeks and months.
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