Dapper Labs suspends NFT operations for Russian users
Metaverse and NFT

EU sanctions: Dapper Labs suspends NFT operations for Russian users

A decision has been made following sanctions imposed by the European Union on Thursday, targeting Russia and Russian nationals. Dapper Labs has halted payment services for NFT holders with ties to Russia.

This is because EU member countries have agreed on a new set of sanctions against Russia for its aggression against Ukraine. According to the European Commission, the new package is “a response to Russia’s escalation of its illegal war against Ukraine.

The European Union has confirmed a ban on remittances from Russian wallets, accounts and cryptocurrency depositories. So as of Thursday, Russian users can no longer transfer funds, including cryptos, to the EU.

As a result of these sanctions, Dapper Labs, a leader in the NFT field, has made the decision to restrict its services for its Russian users. In other words, while they can keep their NFT and funds in their Dapper wallets, they can no longer move them or use them for trading purposes. Dapper stated:

“It is now prohibited to provide wallet, account or custody services for crypto-assets of any value to accounts with ties to Russia.”

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