Geyser rejects Cuba Bitcoin project over sanctions check

  • Geyser rejected a Cuba Bitcoin project after an automated wallet review flagged sanctions concerns.
  • Cuba Bitcoin said the decision blocked its access to international crowdfunding.
  • Forte11 said the initiative’s infrastructure, wallet and project were registered outside Cuba.

Geyser rejected a Cuba Bitcoin project after an automated compliance review flagged its submitted wallet for sanctions concerns, cutting off access to international crowdfunding. Cuba Bitcoin is a grassroots community focused on helping Cubans use Bitcoin and providing related infrastructure. Geyser said its rules apply even though the platform is non-custodial and does not hold bitcoin for users. The group said the decision underscored the need for crowdfunding infrastructure that is permissionless, censorship-resistant and resilient. Geyser CEO and co-founder Michele Morucci said the U.S.-based company was founded on Bitcoin principles but could not avoid regulatory compliance. Forte11 of the Bitcoin Cuba collective said the initiative’s infrastructure, wallet and project were registered outside Cuba and accused Geyser of applying sanctions restrictions too broadly.

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