{"id":329904,"date":"2021-08-25T04:59:11","date_gmt":"2021-08-25T01:59:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/onlyfans-boss-explains-how-aggressive-banks-forced-it-to-drop-adult-content\/"},"modified":"2021-08-25T04:59:11","modified_gmt":"2021-08-25T01:59:11","slug":"onlyfans-boss-explains-how-aggressive-banks-forced-it-to-drop-adult-content","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/onlyfans-boss-explains-how-aggressive-banks-forced-it-to-drop-adult-content\/","title":{"rendered":"# OnlyFans boss explains how ‘aggressive’ banks forced it to drop adult content"},"content":{"rendered":"

“# OnlyFans boss explains how ‘aggressive’ banks forced it to drop adult content <\/strong>”
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Tim Stokely, the founder and CEO of OnlyFans has explained how banks had forced it to drop adult content from the subscript<\/a>ion-based content platform. <\/p>\n

OnlyFans is a popular platform connecting online sex workers to subscribers, but the firm recently changed its policy to prohibit \u201csexually explicit conduct,\u201d starting Oct. 1 \u2014 which has caused backlash from both creators and content connoisseurs alike. <\/p>\n

Speaking about the change<\/a> of policy with the Financial Times on Aug. 24, Stokely noted that \u201cwe had no choice \u2014 the short answer is banks,\u201d as he listed three banking giants who refused to provide services to OnlyFans: Bank of New York Mellon, Metro Bank and JPMorgan Chase. <\/p>\n

Stokely asserts that the banks pulled services from OnlyFans over the \u201creputational risk\u201d of being associated with a platform that hosts sexually explicit content. The founder cited JPMorgan in particular, stating that it is \u201caggressive in closing accounts of sex workers\u201d or any business that \u201csupports sex workers.\u201d<\/p>\n

Stokely claims that they \u201cflagged and rejected\u201d every wire transfer connected with the firm, which was \u201cmaking it difficult\u201d to pay creators on the platform.<\/p>\n

\u201cWe pay over one million creators over $300 million every month, and making sure that these funds get to creators involves using the banking sector,\u201d he said.<\/p>\n

Pornhub has run into similar issues in the past, with Paypal pulling back from the platform in late 2019. In December of the following year, Visa and Mastercard also halted services to Pornhub, over issues regarding videos that allegedly depicted illicit material. <\/p>\n

Related: JPMorgan Chase reportedly shuts down bank accounts of Bitcoin mining firm<\/em><\/strong><\/p>\n

Pornhub moved toward cryptocurrencies for payments including utilizing Verge (XVG), which it had partnered with back in 2018. <\/p>\n

Stokely didn\u2019t reveal if OnlyFans would adopt crypto like Pornhub, but did note that he would \u201cabsolutely\u201d allow pornographic content on the platform if banks changed their mind.\u00a0<\/p>\n

There are also blockchain-based alternatives to OnlyFans, via platforms such as Nafty.tv which is built<\/a> on Binance Smart Chain and utilizes its native NAFTY token for payments, along with credit and debit cards. <\/p>\n