BitPay Payment Processor Begins Enforcing Ban On Prohibited Activities On Its Platform

BitPay Payment Processor Begins Enforcing Ban On Prohibited Activities On Its Platform


After upgrading its terms of use to prohibit explicit content and other related services on February 2, BitPay Payment Processor started to ban this week.

Pornstar and Reddit Sexy_Saffron posted subreddit /r/bitcoin  on February 24 an email from BitPay, which states that her account will be disabled on April 25 because she has sexually explicit content.

Sexy_Saffron wrote in the comments that the reason for the ban is, apparently, because “once they allow payments on XXX, they become a” high-risk “payment processor that increases their spending in the world.”

New terms of use February 2 include a list of services that are considered “prohibited” by the BitPay platform:

“Selling drugs, research chemicals or any controlled substances; selling cash or cash equivalents […] selling virtual currencies; items that violate any intellectual property rights; ammunition, firearms, explosives substances (including fireworks) or weapons […]; transactions that display personal information of third parties; pyramid-supporting transactions; Ponzi or other “rich” schemes; cloud-related transactions; lending or loan services;repayment of debts; any services competing with BitPay; explicit sexual content; sales of Kratom or Nootropics. “

The following services are allowed if they were written in BitPay: engage in foreign exchange transactions, sell Bitcoin (BTC) equipment, provide currency services, buy lottery contracts and engage in gambling transactions.

Despite the fact that bitcoin and  cryptocurrency are often characterized as popular money laundering and fraud tools, a study published in January this year showed that less than one percent of BTC transactions involve money laundering.

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