HomeNEWSMetaverse Project Bloktopia Clarifies Russian Sanctions Amid Backlash

Metaverse Project Bloktopia Clarifies Russian Sanctions Amid Backlash


Follow us


On Tuesday, metaverse project Bloktopia, revealed its intent to place some temporary sanctions on Russian Nationals. However, it has now shed more light on the sanctions, saying it will only be restricting BLOKPAD, albeit temporarily.

According to the firm’s statement today on Wednesday, it says;

“In line with international policy, Bloktopia has decided today to prevent Russian citizens from using any Bloktopia Alpha or Beta versions or participating in any BLOKPAD launchpad events.”

Meanwhile, Bloktopia’s decision to sanction Russians has been met with some serious backlash. But the backlash is based on nothing other than the fact that the project took a negative stance against the very concept of decentralization upon which blockchain technology is originally formed.

Bloktopia Adds Russia To Blacklist

Bloktopia, a licensed business that must conform to strict KYC and AML guidelines, has come up with temporary measures to add Russian citizens to a list of blacklisted participants.

However, as displayed on Blockpad’s website, participants who are unallowed to participate in the IDOs include nationals from the following countries: Algeria, Belarus, Bangladesh, China, Bolivia, Cambodia, Egypt, Colombia, Ecuador, Iraq, Iran, Morocco, Libya, Nepal, Pakistan, Russia, Myanmar, Syria, Ivory Coast, Liberia, Zimbabwe, North Korea, United States, and others.

Meanwhile, it is noteworthy that Blokpad is yet to freeze any assets of Russian nationals. So, for anyone who participated in an IDO before the Tuesday announcement, they can claim their tokens the usual way.

Again, it might be noteworthy that this is only a temporary measure relating to only future participations in Blokpad IDOs. And starting from today, all nationalities are welcome in Bloktopia to join in with the Alpha.

This means that from today, anyone is welcome to join the Alpha through Discord, including Russian Nationals.

Read more:

US & EU Partner against Russian Elites for Crypto Use to Bypass Sanctions

Russian Central Bank Hikes Interest Rates To 20%

European Union Vows To Ensure Russia Does Not Evade Sanctions Through Crypto

mayowa adebajo
mayowa adebajo
Mayowa Adebajo is a fintech enthusiast with a decade long experience writing news stories and creating content generally. When he's not writing, he's either talking politics or discussing sports.

Most Popular