Hong Kong-based Animoca Brands has become one of the first crypto businesses to shutter its services for Russian users in support of sanctions placed against the nation over its invasion of Ukraine.
See related article: Binance may join sanctions imposed on Russian targets
Fast facts
- Animoca subsidiaries Gamee and Lympo will stop serving its Russian user base, though the number of local customers is not significant enough to impact the company’s bottom line.
- Gamee had already announced the closure of services for Russians last week while Lympo had stopped publishing non-fungible tokens (NFTs) of Russian athletes and halted all ongoing negotiations.
- While some exchanges have chimed in to join sanctions against Russia, most exchanges, including top crypto platforms Binance and Kraken, said they will not prohibit individuals’ access to their services.
- Blockchain gaming and NFT unicorn Animoca will also stop selling its shares to Russian investors as the country is now sanctioned.
See related article: Russian soldiers offered Bitcoin in exchange for white flag
