BitPay Payment Processor Places Ban On Unacceptable Activities On Its Platform

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BitPay earlier on proceeded to update its terms of use and that has been in a bid to place a ban on explicit content as well as on more of the related services. An official working with BitPay was the first one to crack up on the news that it started executing the ban in the course of this particular week.

It was just recently that Sexy Saffron who is a Porn star and also a Rediit user went ahead to make a posting in which she came out clearly to state that she had received a notification that her account was going to be disabled somewhere in April 25th.

The reason why such a strong measure was going to be implemented was because she had severally posted sexually explicit content which was an acceptable according to the changed regulations.

A number of news reporters that wanted to learn more from her made efforts to reach her. They were lucky to get to hear from her.

She opined, “The reason for the ban is probably because as soon as they allow for XXX payments they become a ‘high risk’ payment processor which increases their costs with the fiat world. The new Feb. 2 terms of use contains a list of the services that are considered prohibited activities by the BitPay platform.”

However, if BitPay proceeds to make a statement through writing it will be possible for several services to be allowed. These include taking part in the foreign exchange activities, provision of currency services, transactions that involve gambling and the purchasing of lottery contracts.

Bitcoin and cryptocurrencies are seen by many as vehicles for fraud and money laundering and that is according to a recent study that was conducted which indicated that less than one percent of BTC transactions were associated with money laundering.

It is worth noting that the previous year turned out to be one of the highest points for Bitcoin trade. It inspired hope among quite a significant number of people especially those that wanted to invest in it. However, it is important to outline that business dynamics keep shifting.

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