NFT News Daily TheBittimes.com

Crypto wallet firm Payeer has been fined €9.3 million ($10.1 million) by Lithuania after it broke Sanctions and money laundering regulations through the service of Russia n users, Bloomberg reports.   That’s according to a statement on Tuesday by the Financial Crimes Investigation Service. According to the statement, Payeer allowed Russian customers to ‘carry out transactions in Russian rubles by transferring them from European Union-sanctioned Russian banks.’ Registered in Lithuania as a crypto service provider, Payeer was fined €1.06 million (1.15 million) for violating anti-money laundering laws and €8.24 million ($8.9 million) for violating international sanctions . The firm can reportedly appeal the fine.   Former Crypto.com compliance officer charged with money laundering, extortion Read more: Russian companies using USDT to evade UK and US sanctions, report According to Bloomberg, Lithuanian authorities are attempting to cut down the number of cr...

OpenSea’s terms of service explicitly prohibit individuals and organizations from sanctioned regions from using its platform. Nonfungible token (NFT) Marketplace OpenSea has been banning artist s and collectors from Cuba, citing United States sanctions as the key reason behind its action. According to a report published by Artnet, 30 artists and collectors have been banned from the popular NFT marketplace until now. The most noted artist to face the axe includes well-known Havana-based artists Gabriel Guerra Bianchini and Fábrica de Arte Cubano. OpenSea marketplace has mentioned in its terms of service that it explicitly prohibits sanctioned individuals and individuals in sanctioned jurisdictions. The NFT marketplace’s adhesion to United States sanctions was widely known and included countries such as Venezuela, Iran and Syria. However, the recent blocking of Cuban artists adds the country to that list as well. A Twitter profile called NFT Cuba Art revealed earlier in December that ...