- Dapper Labs are freezing its accounts of Russian users.
- This action comes into force due to the new EU sanctions on Russia.
- EU has prohibited Dapper Labs and other companies to offer crypto related services to Russian users.
Popular NFT company, Dapper Labs has said in a statement that it’s suspending the accounts of Russian users. The suspension move is due to the new EU sanctions on Russian amidst the ongoing Russian-Ukraine conflict.
The EU has prohibited companies including Dapper Labs to offer crypto wallets, account, and custody services to Russian users. The company said that its payment services are based in the EU. So they have to comply with its regulations.
Dapper Labs said in their official statement,
payment processing and stored value service partner is subject to EU regulations,
Due to the suspension, the users will not be able to buy, sell or transfer NFTs on the platform. Users will also not be able to make any withdrawals or Dapper Balance Purchases from their Dapper account.
Informing about the suspension, the company mentioned in their statement,
Dapper has not closed the accounts. Users impacted by these actions can continue to access and view their NFTs. Additionally, 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.
Dapper Labs released an official statement on their website after several Russian users complained that they are not able to access their accounts.