Bitpay Bans Payments to Merchants of Explicit Content, Cloud-Mining and Gambling485.5

The binding contract states that the use of the company's services is subject to several important restrictions, including the sale of explicit sexual content. Additional "Prohibited activities" include the sales of narcotics, research chemicals or any controlled substances; cash or cash equivalents, and virtual currencies; items that infringe or violate any intellectual property rights; ammunition, firearms, explosives or weapons; transactions that show the personal information of third parties; transactions that support pyramid, Ponzi, or other "Get rich quick" schemes; transactions that are related to cloud-mining; credit repair or debt settlement services; any services which compete with Bitpay; and the sales of Kratom or Nootropics. The company's Terms also list "Restricted activities," which are subject to internal review and only allowed when expressly authorized by Bitpay. These include Forex, Money Service Business activities or E-wallets; selling bitcoin mining hardware; Currency exchange services; and transaction that are associated with purchases of lottery tickets, lay-away systems, banking, offshore banking, finance, investing, investment related products or gambling.
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