NBA TopShot and Crypto Kitties, two NFT collections hosted by the collective, will no longer accept funds from wallets, accounts, or custody providers with ties to Russia.
NBA Top Shot’s developer, Dapper Labs, looks to be one of the first crypto firms to comply with new EU restrictions prohibiting services to Russia.
NFT giant Dapper Labs has suspended payment services for non-fungible token holders with ties to Russia, citing EU restrictions in a blog post published on Thursday.
When asked about the ban, Dapper, the business behind NBA Top Shot and other famous NFT collections, replied, “It is currently banned to offer crypto-asset wallet, account, or custody facilities of any value to accounts with ties to Russia.”
Affected users may still see their NFTs, but cannot transfer payments, give tokens, sell NFTs, or purchase new ones, according to Dapper’s article, which cited its payment processor.
After proposed limits were made the week previous, the European Union officially banned money transfers to and from Russian cryptocurrency wallets, accounts, and custody providers on Thursday. This is a strengthening of the EU’s restrictions on crypto wallet payments from Russia, which were previously restricted at 10,000 euros in April. Since this past Thursday, Russian users have been unable to send or receive any money to or from the European Union, including cryptocurrency.
While the crypto exchange OKX terminated its services in the nation earlier this week, it is probable that additional crypto-based goods will follow as regulations become more severe. Dapper did not reply to a request for comment from CoinDesk.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.