NFT company Dapper Labs has confirmed that it’s blocking crypto accounts with Russian ties and said it was because of new EU sanctions on Russia.
The sanctions prohibit companies from offering crypto wallet, account and custody services to accounts with connections to Russia, Dapper Labs said in a statement. It added that its payment service is based in the EU, which has directed it to comply with the sanctions.
The company said it is restricting Russian accounts from being able to buy, sell or gift NFTs, as well as make other purchases or withdraw NFTs from the platform.
Dapper Labs added that while users cannot access their NFTs, they still own them and can continue to view them.
The statement comes after multiple crypto users complained that they could no longer access their accounts, and revealed email correspondence from Dapper Labs about the restrictions.
Dapper Labs is the creator of CryptoKitties and the Flow blockchain, which is used by NFT project NBA Top Shot and others.
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Tim is a News Editor at The Block who focuses on DeFi, NFTs and DAOs. Prior to joining The Block, Tim was a News Editor at Decrypt. He has earned a BA in Philosophy from the University of York and studied News Journalism at the Press Association. Follow him on Twitter @Timccopeland.
Source: https://www.theblock.co/post/175790/dapper-labs-breaks-down-why-its-suspending-russian-accounts?utm_source=rss&utm_medium=rss