Bitcoin
$ 38,359
Ethereum
$ 2,329.9
Litecoin
$ 137.62
okex ads

PayPal drops domain registrar Epik over its ‘alternative’ digital currency

Epik is accusing PayPal of political bias.

PayPal may be friendlier to digital currencies, but that doesn’t mean it’s giving everyone a free pass. Mashable reports the payments giant has terminated the account for domain registrar Epik, known for serving right-wing havens like Gab and the Proud Boys, over financial risk issues. It didn’t outline what those risks were, but a Mashable source understood it had to do with the legality of Epik’s Masterbucks “alternative currency.”

Epik reportedly hadn’t taken the appropriate steps to legally offer Masterbucks, which let you pay for services both within Epik’s network and from partners. Moreover, the company was allegedly promoting tax evasion by touting the “tax advantages” of pouring money into the digital format. PayPal told Epik about these issues “over a month ago” and tried to cooperate on a solution, according to the source, but the two don’t appear to have come to an agreement.

Epik is unsurprisingly angry. Senior strategy and communications VP Robert Davis claimed that PayPal asked about issues that were supposedly “outside of any knowledge or experience” of Epik’s position as a domain registrar, such as money transmission licenses. Davis also accused PayPal of trying to “silence conservative voices” just ahead of the 2020 presidential election, echoing longstanding (but often disputed) claims from right-wing politicians and activists.

Not that Epik might have much recourse either way. If the leak is accurate, the company was offering an illegal currency despite warnings. That’s all the reason PayPal would need to sever ties, regardless of an account holder’s political leanings.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

AFRICAN WEEKLY REVIEW
July 26, 2021By
India: WazirX Partners with TRM Labs to Detect Crypto Fraud Transactions
July 26, 2021By
Wyoming Authorities Officially Recognize the First DAO in the United States
July 26, 2021By

Advertisement

Video Posts

In
Impact Of Technology On 4.0
July 6, 20210
In
Importance Of Cryptography
July 3, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin38,359 1.29 % 12.23 % 20.17 %
Ethereum2,329.9 1.31 % 9.35 % 22.26 %
Tether0.9967 0.26 % 0.53 % 0.60 %
Binance Coin317.70 1.21 % 6.80 % 4.41 %
Cardano1.330 1.18 % 10.35 % 12.16 %
XRP0.6542 1.48 % 9.76 % 10.92 %
Dogecoin0.2203 2.34 % 12.62 % 19.55 %
USD Coin1.000 0.04 % 0.12 % 0.40 %
Polkadot14.62 1.65 % 10.14 % 14.45 %
Binance USD1.000 0.04 % 0.30 % 0.27 %

You have not selected any currencies to display