Geyser Rejects Cuba Bitcoin Initiative Over Sanctions Compliance

Geyser, a crowdfunding platform founded on Bitcoin's ethos of free access to capital worldwide, has rejected an initiative from Cuba Bitcoin over US sanctions. The project aimed to provide infrastructure for Cubans, but Geyser cited 'wallet sanction check failed' as the reason for rejection.

Cuba Bitcoin expressed disappointment and frustration with Geyser's decision, arguing that their wallets were registered abroad and therefore unaffected by US sanctions. They also accused Geyser of betraying Bitcoin's ethos by acting as a financial gatekeeper.

Geyser CEO Michele Morucci acknowledged the company's compliance with regulatory rules, stating that it cannot escape 'regulatory compliance' despite being non-custodial. The platform lists countries under US sanctions and considers them high-risk areas where its service is not available.