Geyser Denies Cuba Bitcoin Project Due to US Sanctions Compliance
- Geyser, a crowdfunding platform, rejected a project from Cuba Bitcoin due to US sanctions.
- The platform cited a “wallet sanction check failed” as the reason for rejection.
- Cuba Bitcoin’s initiative aimed at fostering Bitcoin adoption and infrastructure in Cuba.
- Michele Morucci, CEO of Geyser, stated compliance with regulatory requirements was necessary despite the company’s ethos.
- Forte11 from Bitcoin Cuba claimed the project’s infrastructure was registered outside of Cuba, arguing sanctions should not apply.
The rejection of the Cuba Bitcoin project by Geyser highlights the challenges faced by communities under US sanctions when accessing international funding through cryptocurrency platforms. Despite registering their wallets abroad, organizers accused Geyser of not adhering to Bitcoin‘s principles of financial resilience and access.
This incident underscores the tension between regulatory compliance and the decentralized ethos that platforms like Geyser aim to support in global Bitcoin initiatives. (Source)
