Geyser Rejects Cuban Bitcoin Initiative Amid Sanctions Compliance Allegations

A project aimed at promoting bitcoin adoption in Cuba was rejected by Geyser, a popular crowdfunding platform that allows bitcoiners to present bitcoin-linked initiatives to access international funding. The rejection came amid allegations of US sanctions compliance, with Geyser citing 'wallet sanction check failed' as the reason.

Cuba Bitcoin, a community that fosters crypto adoption and provides infrastructure to Cubans, lamented this development, stating that a new crowdfunding platform reflecting bitcoin values was needed. 'If we're serious about building infrastructure for Bitcoin communities, it must be permissionless, censorship-resistant and resilient,' they posted on X.

Geyser's CEO and co-founder Michele Morucci acknowledged that while the company was 'founded on the Bitcoin ethos and the principle of bringing access to capital worldwide', it could not escape regulatory compliance. The platform lists Cuba as a sanctioned country and does not offer services there, along with several other countries.