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Non-fungible token (NFT) company behind CryptoKitties, Dapper Labs now permits users who were affected by the European Union (EU) sanction against Russia to withdraw their NBA Top Shot, NFL All Day, and UFC Strike NFTs. According to the emails sent to users, those affected can move their NFTs from Dapper Labs to a Blocto Wallet.
In addition to ensuring the safety of the NFT ecosystem, Dapper Labs claims that its decision to restrict Russian users from its platform was in accordance with a directive issued by Circle, the issuer of the USDC stablecoin and peer-to-peer payments technology company. Circle Company is Dapper Labs’ partner in terms of payment processing and stored value service.
As per the sent email, Dapper Labs noted “Circle holds custody over customer funds and because they required immediate action, we had to comply with their direction in this instance and suspend accounts with connections to Russia, but we did not close any of these accounts.”
Speaking of Dapper Labs’ decision to allow affected Russian customers to withdraw their NFTs, the blockchain and NFT-based platform claim that it is currently “working to provide support to the maximum extent permitted by law as well as identifying solutions for account holders.”
Dapper Labs Restricts Russian Users Following EU Sanction
A week ago, Dapper Labs announced that it was no longer offering payment options to Russian NFT holders following the 8th wave of EU sanctions which was levied against Russians coupled especially, as its payment service was based in the EU. Companies like Dapper were restricted from offering crypto-asset wallet, account, or custody services of any value to accounts with connections to Russia.
The restrictions were designed to cut across all Russian accounts no matter the amount the wallet holds even if it belonged to a Russian national. Although they still held ownership rights to the blocked NFTs.
Explicitly stated “regardless of this new regulation, any NFT previously purchased by an impacted user continues to belong to that user. Any Moments you own and any Dapper Balance continue to be your property.”
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