Countries all around the world are imposing financial sanctions on Russia for its invasion of Ukraine. Animoca subsidiaries Gamee and Lympo are also compelling these sanctions. Gamee and Lympo will cease serving their Russian consumers, while the number of local customers is insignificant enough to have an influence on the company’s bottom line.
Last week, Gamee announced the termination of its services for Russians, while Lympo ceased publishing non-fungible tokens (NFTs) of Russian sportsmen and ceased all current discussions.
Some exchanges have joined the sanctions on Russia while the majority of exchanges, including big crypto platforms such as Binance and Kraken, have restrained themselves from complying with the sanctions. Jesse Powell, CEO of crypto exchange Kraken, emphasised that his exchange can only suspend the accounts of Russian customers if a government requires it, recalling what happened in Canada during the Freedom Convoy trucker protest.
Animoca, a blockchain gaming and NFT startup, will likewise halt selling shares to Russian investors now that the nation has been sanctioned.
- The United States includes cryptocurrency in Russian sanctions
- The US sanctions effect: Visa, Mastercard blocked Russian banks