OpenSea Terminates Its Iranian User Accounts On Web 3


In what is turning into a bigger controversy regarding international sanctions and popular Web 3 platforms, OpenSea users with Iran-based internet protocol addresses allege their accounts were deleted on Thursday. The sanctions in question are aimed at the Iranian government and ban American corporations from selling products or services to anybody in Iran. OpenSea is a Delaware-based firm with its headquarters in New York.

OpenSea Blocked Iranian Accounts Overnight

Today marks the ninth day of Russia’s invasion of Ukraine. The assaults have been denounced by governments all around the world, NATO, and the United Nations. To put an end to the invasion quickly, nations have imposed harsh penalties on Russia.

Concerns that Russia will use digital assets to evade sanctions prompted the Ukrainian government to ask crypto exchanges to block all Russian accounts. Crypto exchanges were adamant about not enacting blanket prohibitions. Russian sanctioned companies and people will be targeted by cryptocurrency exchanges. Binance, Coinbase, and Kraken all denied a request for a blanket ban on Russians earlier this week.

According to the platforms, they will target persons and companies following Russian sanctions. Binance CEO CZ even went on to add that “blocking all Russian accounts would be immoral.”

However, the pressure on cryptocurrency exchanges has increased. The National Security Council of the White House and the Treasury Department sent an order to the main cryptocurrency exchanges this week.

The Biden Administration, according to the article, has asked crypto exchanges to “guarantee that Russians do not utilize crypto as an escape.”

With Binance, Coinbase, and FTX in negotiations with the White House, it’s possible that exchanges will reconsider their stance on Russian account holders. Cryptocurrency exchanges aren’t the only ones. The NFT marketplace OpenSea has been obliged to act as a result of the shift in focus to digital assets. According to Forbes, OpenSea abruptly removed Iranian users from its portal. While other crypto exchanges target sanctioned persons, OpenSea has blocked customers depending on their location.