North American crypto users will be restricted from staking ApeCoin, the ERC-20 metaverse token issued by Yuga Labs, according to a company statement on Wednesday.
The ApeCoin DAO claimed the “current regulatory environment” left it with “no good alternative” but to selectively geo-block the service in numerous areas, including Canada and the United States.
Yuga Bends to Regulators
In its latest project update, ApeCoin offered details about the upcoming launch of ApeStake.io. The site goes live on September 5th, after which the associated smart contract will be funded within two days. Stakers may begin accruing rewards one week after launch on December 12th.
However, as detailed at the bottom of the page, staking ApeCoin may prove far more difficult for some users than others, depending on their location. Countries and regions including the United States, Canada, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk will all be geo-blocked from staking.
“We are aware th
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