Animoca Brands Halts Russian Users According to a Legal Advice

by in Blockchain News

Animoca Brands Russian users

Animoca Brands, leading gamification, blockchain, and AI company makes its services unavailable for Russian users as the number of sanctions against the country is increasing for invading Ukraine.

Related: Ukrainian Politician Asked Crypto Platforms To Ban Russian Users

In an interview with Bloomberg, Animoca co-founder Yat Siu said that the step will affect subsidiaries Gamee and Lympo. He added that it won't impact the company's results much as the number of Russian users isn't large enough. Siu said that the company acted according to the received legal advice to apply some restrictions. Russia is a sanctioned country along with North Korea and doing businesses in those areas Animoca Brands might be left out of the financial system, Siu said.

Hong-Kong-based Animoca will no longer sell shares to Russian investors, and will block Russian users. Gamee wrote on Twitter on February 24 that it's closing services to Russia, while Lympo would stop publishing Russian athlete NFTs. Lympo will also stop current negotiations with Russian sportspeople and stop onboarding new athletes.