Dapper Labs To Allow NFT Withdrawals In EU Despite Sanctions

Those affected by the sanctions will still be able to withdraw their assets

Those affected by the European Union’s sanctions against Russia that have NBA Top Shot, NFL All Day and UFC Strike NFTs are going to be aided by Dapper Labs as the company is now allowing those users to withdraw their assets from their Dapper Wallet to a Blocto Wallet.

Dapper has stated its choice earlier to restrict accounts related to Russia came from a directive given to the company by Circle which is a large peer-to-peer payments tech company, the same company behind the USDC. USDC is the payments processing platform for Dapper and aids in storing value for its assets.

Dapper Labs NBA Top Shot NFTs

The Dapper team assured customers in Russia that their accounts were not closed but the decision to suspend the accounts was made in order to comply with the direction of Circle and the fact that Circle holds custody over the funds.The team at Dapper stated that quick movement was meant to remain compliant and prioritize safety of all individuals and wallets.

It should be known this is not Dapper Labs going against the will of the European Union as the company still claims it is providing the support but working within the full extent permitted by law while providing solutions for holders. This method was also taken by other companies such as Blockchain.com and Crypto.com which gave holders emails with detailed restrictions and timed periods that allowed for the withdrawal of custodial funds.

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