Blockchain Developer Dapper Labs Announces Ban on Russian Accounts Following EU Sanctions
Dapper Labs, the company behind blockchain-based game CryptoKitties and layer-1 digital ledger the Flow (FLOW) network, is announcing restrictions on accounts linked to Russia.
Dapper Labs says that following the imposition of new sanctions against Russia and Russian nationals by the European Union (EU) last week, it will suspend the affected accounts as its “payment processing and store value service partner” is subject to the sanctions.
According to the firm, the new EU sanctions prohibit crypto industry players from offering “crypto-asset wallet, account or custody services of any value to accounts with connections to Russia, irrespective of the amount of the wallet.”
Dapper Labs says that Russia-linked accounts are now suspended from making purchases or sales or gifting products bought from the blockchain firm’s sports-related non-fungible token (NFT) content. Dapper Labs has also suspended Russia-linked accounts from making withdrawals from the platform or making purchases using their balance on the platform.
The new round of sanctions outrightly banning crypto payments of any amount came after Russia annexed four Ukrainian territories following what EU calls a “sham” referendum. Previous sanctions allowed crypto payments of up to €10,000.
The new EU sanctions coincided with a report saying that Russia’s top financial authorities had allegedly reached an agreement legalizing the use of crypto assets in cross-border transactions.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mia Stendal/WindAwake
The post Blockchain Developer Dapper Labs Announces Ban on Russian Accounts Following EU Sanctions appeared first on The Daily Hodl.
Go to Source
Author: Mark Emem
