PayPal Declares Policy To Penalize Users For Wrong Information Was An Error
PayPal is a popular payment gateway that offers a suitable payment solution for individuals and businesses. Using PayPal, users can pay bills, accept payments, send and receive money, and do more. They perform these transactions through mobile apps, the web, or in person. The online payment platform issued a punishment policy to users. The policy […]
Related News
Despite the retraction, the crypto community said the policy is a perfect example of why decentralization and self-custody of funds are so important. Online payment network PayPal has reneged on a controversial policy that could’ve seen users fined $2,500 for spreading “misinformation,” with the payment platform claiming the policy update was published “in error.”The now retracted misinformation clause in PayPal’s Acceptable Use Policy (AUP) was set to take effect on Nov. 3, which would have expanded on its list of prohibited activities to include “the sending, posting, or publication of....
A new Paypal user policy that permits the company to fine users $2,500 for spreading “misinformation” has caused quite a stir on social media platforms. After November 3, anyone who posts or publishes information or content to “promote misinformation” will be subject to the penalty.
Editor’s note: This article was updated to reflect that Paypal has retracted the user policy information after the social media backlash. The company said: “An AUP notice recently went out in error that included incorrect information.” The last....
Since September, an increasing number of bitcoin startups and exchange have begun offering bitcoin-to-paypal payment processing services, allowing users to send bitcoin to international paypal accounts with substantially low transaction and conversion fees. Exchanges such as Bitwala, leading European bitcoin payment company have introduced secure and quick bitcoin-to-paypal transfer service, with service fees ranging from 0.5% to 4%. "For only 0.5% fee we transfer Bitcoin to PayPal accounts you want. You don't need a bank account or a credit card. Bitcoin makes services like PayPal....
Voat™, a media aggregator like Reddit, wants to be the place on the Internet where you can "have your say™". But that might not be possible if PayPal has its way. PayPal informed Voat administrators that their account had been "limited," and their funds frozen. The site, entirely funded by user donation, is distressed. The site creator Atif Colo posted in a stickied thread on the forum's homepage: The reason given was 'Under the Acceptable Use Policy, PayPal may not be used to send or receive payments for certain sexually oriented materials or services or for items that could be considered....
Terra’s death spiral resulted in the mispricing of LUNA tokens on the popular cryptocurrency exchange. Traders aren't happy with the compensation. Cryptocurrency exchange Crypto.com has halted the trading of Terra (LUNA) tokens after it determined that user transactions were quoted at an “incorrect price,” prompting severe backlash from the community.In a Friday news release, Crypto.com said that LUNA trades have been halted due to a pricing error between 12:40 and 13:39 UTC on May 12. “[U]sers who traded LUNA were quoted an incorrect price,” the exchange said. “Our systems quickly....