Dapper Labs, a NBA Top Shot franchise, has suspended accounts with connections to Russia because to the EU''s tightening of sanctions. It added that its payment service is based in the EU, which has ordered it to comply with the restrictions. The company said it is restricting Russian accounts from being able to buy, sell, or gift NFTs, as well as other purchases or withdrawal non-fungible tokens from the platform.
Users of Dapper Labs have no right to access their NFTs, but they can continue to view them. Defined by these actions, the company has not closed the accounts. Users impacted by these actions can continue to access and view their NFTs, according to the company.
Dapper has been commissioned to impose these restrictions on these accounts under the EU law as its "payment processing and stored value service partner."
"Their accounts have been closed by Dapper. Users affected by these actions may continue to access and view their NFTs, according to the company. Regardless of this new regulation, any NFT previously purchased by an affected user continues to belong to that user."
This statement comes after multiple crypto users complained that they could no longer access their accounts, and Dapper Labs received email correspondence detailing the restrictions.
Unveils the latest set of EU sanctions on Russia on October 6, the country stipulates a complete prohibition on providing crypto-asset wallets, accounts, and custody services, irrespective of the total value of the assets.
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Russia is still attempting to navigate through the plethora of sanctions against it. As a result, the country is contemplating using the digital RUB in international agreements with Russia. This is even if it is still in the pilot phase of the CBDC development. The central bank is now testing it for bank settlement.