Blockchain gaming operator Animoca Brands has just announced it intends to stop offering its services to Russian users and investors due to the war against Ukraine, Bloomberg has reported.
According to Animoca co-founder Yat Siu, the decision also applies to the company's subsidiaries Gamee and Lympo. According to him, the proportion of Russian customers in the company is negligible and the ban will not have a significant impact on financial performance. He has said:
"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."
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Animoca has reported it will also prohibit the sale of company shares to Russian investors.
Gamee announced on February 24 it was ceasing to offer its services to Russian customers. For its part, Lympo has announced that it will stop issuing NFTs of Russian athletes and will close all ongoing negotiations with them.