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To comply with sanctions, Animoca Brands has halted Russian services

Animoca Brands, based in Hong Kong, has become one of the first crypto companies to shut down its services for Russian users in support of the country’s invasion of Ukraine.

Animoca subsidiaries Gamee and Lympo will no longer serve Russian customers, despite the fact that the number of local customers is insignificant enough to have an influence on the company’s bottom line.

Last week, Gamee announced the termination of Russian services, while Lympo ceased all existing discussions and stopped releasing non-fungible tokens (NFTs) of Russian sportsmen.

While some exchanges have joined the sanctions on Russia, the majority of exchanges, including big crypto platforms Binance and Kraken, have stated that users’ access to cryptocurrency will not be restricted.

Because Russia has been sanctioned, Animoca, a blockchain gaming and NFT startup, will no longer sell its shares to Russian investors.
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