Blockchain gaming company Animoca Brands has become the latest entity to cut off ties with Russia following the ongoing crisis in Ukraine.
<h2><strong>Animoca Brands Subsidiaries Cuts Off Russian Users</strong></h2>
Animoca subsidiaries Gamee and Lympo will stop serving its Russian customers. However, the number of Russian users isn’t large enough to impact the company’s financial results, per the company.

In fact, Gamee already announced that it was closing its services to Russia last week.

https://twitter.com/GAMEEToken/status/1496814169139601410

Similarly, Lympo too said it would stop publishing Russian athlete NFTs and halt negotiations with the nation’s athletes to join the Lympo NFT Ecosystem.

https://twitter.com/Lympo_io/status/1497621780567048196
<blockquote><em>“The legal advice we’ve been receiving is we now have to impose some restrictions. It’s a sanctioned country on par with North Korea. The moment we end up doing business in those areas, we might ourselves become financially excluded from the financial system,” </em>Animoca co-founder Yat Siu said in a Bloomberg interview.<em>
</em></blockquote>
Amid the Russia-Ukraine crisis, Animoca Brands will also stop selling its shares to Russian investors as the country is now sanctioned.
<h2><strong>Ukraine Asks Exchanges to Freeze Russian Users</strong></h2>
Mykhailo Fedorov, Ukraine's vice prime minister and minister of digital transformation last weekend asked all major crypto exchanges to block addresses of Russian users.

Infact, the ministry specifically reached out to Coinbase, Binance, Huobi, KuCoin, Bybit, Gate.io and Whitebit, along with Ukrainian exchange Kuna.

https://twitter.com/FedorovMykhailo/status/1497922588491792386

However, major crypto exchanges have declined the request seeing it as contrary to the libertarian ethos of an industry that caters to those who want to protect their assets beyond government reach.

Animoca Brands Halts Service to Russian Customers

Blockchain gaming company Animoca Brands has become the latest entity to cut off ties with Russia following the ongoing crisis in Ukraine. 

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Animoca Brands Halts Service to Russian Customers

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