Dapper service froze the assets of Russian users

The company referred to the new sanctions of the European Union

08.10.2022 - 07:30

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What’s new? On October 6, Dapper, an NFT platform, began blocking the accounts of Russians with complete freezing of their assets, including non-fungible tokens. Representatives of the company referred on their blog to the new EU sanctions. Users from the Russian Federation can only view their NFTs, they cannot move funds, sell, gift, or purchase tokens.

Dapper Blog

More details about the situation. The platform’s representatives explained that “it is now prohibited to provide crypto-asset wallet, account, or custody services of any value to accounts with connections to Russia.” In this, the company noted that all assets on user accounts belong exclusively to them.

On October 6, the European Union adopted the eighth package of sanctions against Russia, which completely banned cryptocurrency companies from serving Russian citizens. At the same time, the team of the Binance crypto exchange said that so far it had not imposed new restrictions on users from Russia, but would leave the possibility to withdraw funds if it is necessary to comply with new sanctions. In April, in accordance with the fifth package of sanctions, Binance suspended the maintenance of the Russian Federation’s citizens’ accounts, the amount of assets on the accounts that exceed €10 000.

Managing partner of GMT Legal Andrey Tugarin noted that exchanges licensed in the EU are forced to comply with the new restrictions, in connection with which he recommended Russians withdraw funds from such centralized platforms.

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