Iranian Users Banned From OpenSea, The Company Says It Has to Comply With Ongoing US Sanctions Against Iran

04.03.2022 21:25
by Nina Petrov
1 min read

On Thursday, many OpenSea users from Iran woke up to see their accounts were deactivated and/or deleted without any prior notice. 

After confused posts of upset Iranian users flooded the social media, OpenSea, one of the largest NFT marketplaces in the world with headquarters in New York, explained what had happened. Namely, the company is obliged to deny services to all Iranian citizens, because it has to comply with the current US sanctions against the Iranian government. 

This is not the first time crypto industry reacted in compliance with the US sanctions against Iran. One of the earlier sporadic cases was in November 2021, when a group of Iranian students was banned from a coding academy organized by ConsenSys, an Ethereum software company.

Another reason why OpenSea chose to suspend Iranian users is the rising concerns that crypto industry might interfere with the effectiveness of international sanctions, particularly in connection with the current conflict in Ukraine.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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