The decentralization of OpenSea once again undermined? To comply with sanctions from the United States, it seems that the main non-fungible token (NFT) marketplace has decided to restrict and delete the accounts of users residing in Cuba.
OpenSea suspends Cuban users
OpenSea users from Cuba reported this week that their accounts had been suspended or even deleted by the world’s first non-fungible token (NFT) platform. This is the case of many artists, who expressed their dissatisfaction on Twitter:
long time since we posted, unfortunate that this post needs to be this.@opensea has disabled our profile.
Not only do Cubans on the island, but those who have other nationalities have to endure censorship in web3 company.
Buying art from Cubans is not banned in the us embargo pic.twitter.com/7cccbmjNWR
— NFTcuba.ART 🇨🇺 (@nftcubaart) December 12, 2022
Rumors that OpenSea would have specifically targeted the accounts of Cuban users have spread in recent months. As of this writing, more than 30 artists have reported experiencing the same censorship from the platform.
👉 This way to understand everything about non-fungible tokens (NFT)!
These were recently confirmed thanks to an in-depth investigation by the Artnet media, to which a spokesperson for the NFT platform explained that these restrictions are taken to comply with US sanctions:
” We are truly sorry for the artists and creators who are impacted, but OpenSea is subject to strict policies related to sanctions laws. We are a US based company […],which means that we are obligated to block people located in places affected by the United States sanctions.»
This is the justification provided by OpenSea when the previous wave of user account suspensionswhich concerned countries such as Venezuela, Iran or even Syria. Indeed, although wanting to be decentralized, the platform is a company that must comply with the laws of its country.
For Cuban artists, this decision by OpenSea comes as no surprise. It follows on from 60 years of US sanctions against the country, which have even continued into the digital age. However, this cuts off the momentum of a promising and growing Cuban industry.
👉 Read also – NFT OpenSea platform confirms blocking of countries subject to US sanctions
Discover the NFTs of the biggest brands
Buy, sell or trade NFTs
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
307 items
