Dapper, a firm based in Vancouver that reportedly values $7.6 billion, is working with the Flow blockchain to create Flow NFTs including NBA Top Shot, NFL All Day, and Crypto Kitties. The firm is also involved in creating popular NFTs like Flow
Dapper Labs, a flow blockchain developer, has banned Russian accounts after the European Union (EU) recently imposed new sanctions against Russia and its citizens.
Regardless of the total value of the assets, crypto-asset wallets, accounts, and custodianship services are banned from being offered in the latest set of EU sanctions on Russia.
Dapper CEO and co-founder, Eddy Travia, said that NFTs sold, bought, and donated by Russian-linked accounts will no longer be able to do so, following the announcement of the sanctions.
The firm said that, as its payment processing and stored value partner is governed by EU regulations, Dapper has been instructed to implement the restrictions on these accounts in accordance with EU law.
Despite the new law, Dapper users who had NFTs bought can still access and see them. Additionally, any NFTs that were previously purchased by an affected user continue to belong to him or her.
“All crypto-asset wallets, accounts, and custody services, regardless of the amount, are prohibited across the EU-Russia border. In addition, cross-border crypto payments are banned.”
It is yet another occasion in which a crypto-related firm had to obey regulatory demands to stay out of trouble, like the August Tornado Cash cryptocurrency mixer debacle.
@XBT002, on Twitter, criticized Dapper’s decision, arguing that it contradicts the idea of blockchain-based censorship resistance:
Dapper, which is alleged to be a Dapper employee, claimed that it was “forced” to take this action on the Russian accounts and was therefore “handcuffed.”
We are at this moment investigating the full impact of these sanctions on our community. In addition, we have sent messaging to all affected Dapper wallets and our wider Dapper community too.— Luke (@ElDumboTS) October 9, 2022 : We are investigating the full impact of these sanctions on our community at this moment. In addition, we have sent messaging to all affected Dapper wallets and our wider Dapper community.— Luke (@ElDumboTS) October 9, 2022
Dapper, a centralized firm based in Vancouver valued at $7.6 billion, has Flow blockchain technology as well as a variety of NFTs, such as NBA Top Shot, NFL All Day, and Crypto Kitties. The firm is planning to launch multiple NFTs in the near future.
