Cryptocurrency sector is swarming with regulators and sanctions from nations around the globe. They have become more alarmed especially after the investors suffered due to unfortunate events in this space this year. According to Artnet, an art market website, OpenSea has barred Cuban artists from the platform following the US sanctions.
Crosshair on Cuban Artists Only?
The NFT space boomed in 2021 that’s when Cuban artists also sought refuge under its shadow. An OpenSea spokesperson told the news website that the company is complying with US sanctions. NFT Art Cuba, a community of Cuban NFT artists, took to Twitter posting a screenshot that informed about their OpenSea account getting disabled.
long time since we posted, unfortunate that this post needs to be this.@opensea has disabled our profile.
Not only do Cubans on the island, but those who have other nationalities have to endure censorship in web3 company.
Buying art from Cubans is not banned in the us embargo pic.twitter.com/7cccbmjNWR
— NFTcuba.ART
One of the Cuban artists, Gabriel Bianchini, whose art has previously been displayed during Havana Biennial and MIA Photo Fair in Milan, explained how the NFT art has saved them from harsh times in the country. He said that they were stuck with increasing social, political and financial situations in the nation. This concept was a liberation to them, and not just in context to the technology but with creativity also.
According to the data, OpenSea has banned more than 30 Cuban artists alongside the account of the aforementioned community. They had around 120 Million visitors on the platform every month. USA and Cuba had a history going back to the Cuban Missile Crisis that happened during the 60s.
The Cuban Missile Crisis was among the most infamous events the world has ever witnessed. It is believed that this was the closest two superpowers came close to a nuclear conflict. An interesting controversy associated with the event includes the assassination of John Fitzgerald Kennedy, 45th President of the US. Many believe that the CIA was involved in the killing as he refused to provide them support during their failed Bay of Pigs invasion in Cuba.
Activision’s Call of Duty: Black Ops featured a mission dedicated to the Bay of Pigs invasion. The failed attempt had a lot of impact during the conflict. An effort to overthrow Fidel Castro, former President of Cuba, turned into a disaster and made JFK look weak. This gave the Cuban President more strength on his soil during the tenure.
Apart from digital asset markets, the global economy too has suffered this year. Rising inflation, war in Ukraine, Fed’s rate hike decisions and more have given rise to chaotic situations in different sectors. Regulators are trying to increase their command over virtual currencies following the TerraUST and FTX collapse this year.
Bitcoin, the flagship crypto asset, was trading at a market price of $16,838 at the publication time. None of the assets have seen any significant recovery throughout this year. Many experts believe that the crypto winter might stay for longer than people expect.
Source: https://www.thecoinrepublic.com/2022/12/24/opensea-bars-cuban-artists-says-they-are-complying-with-us-sanctions/