Dapper Labs Suspends NFT Operations for Russian Users Amid New EU Sanctions
Canadian company Dapper Labs has blocked operations with non-fungible tokens (NFTs) for Russian accounts. The move follows a new round of sanctions recently imposed by the EU which prohibit the provision of crypto-related services to Russian residents and entities. NFT Platform Dapper Labs Conforms to Latest EU Restrictions Against Russian Federation Dapper Labs, the creators of the Flow blockchain network and projects like Cryptokitties and NBA Top Shot, has complied with the new restrictive measures adopted by the European Union in response to Russia’s military....
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The firm outlined that as its “payment processing and stored value service partner is subject to EU regulations,” Dapper has been directed to impose the restrictions on these accounts under EU law. Flow blockchain developers Dapper Labs has suspended Russian accounts after the European Union (EU) imposed new sanctions against Russia and its nationals. Announced on Oct. 6, the latest set of EU sanctions on Russia stipulates a full ban on the provision of crypto-asset wallets, accounts and custody services, regardless of the total value of the assets. Following the sanction announcement,....
The Monetary Authority of Singapore says crypto exchanges in the country must comply with financial sanctions against Russia. The Monetary Exchange of Singapore (MAS), the country’s central bank and financial regulator, reminded all authorized cryptocurrency exchanges in the country to comply with financial sanctions in place toward Russia. This statement comes after research that revealed millions in crypto donations raised by pro-Russia groups in support of the ongoing conflict in Ukraine and increased sanctions on Russia from financial authorities around the world.Singapore’s decision....
Dapper Labs and their Flow blockchain product have gained substantial ground this year. This week, Dapper is teeing up for more sports IP to come to life. The company is adding WNBA rosters to their Top Shot product beginning this week. Additionally, reports have surfaced that Dapper Labs has partnered with one of the most […]
According to Chainalysis data, Russia's stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets. A new report from blockchain analytics firm Chainalysis has shown a surge in stablecoin usage in Russia following the Russian invasion of Ukraine, which has since seen sanctions and inflation impacting the country. Released on Oct. 12, the report revealed that the share of stablecoin’s transaction volume on primarily Russian services increased from 42% in January to 67% in March following the invasion, and has continued....
One of the most prominent firm in the NFT industry is Dapper Labs, the firm behind NBA Top Shot. Top Shot’s success and demand skyrocketed earlier this year, with more than $500 million in trading volume to date. Now, Dapper Labs is focusing on what could be the next big thing in crypto collectibles: Genies, […]