Artist Crowdfunding Platform Suspending Adult Content

It’s well known that federally insured banks have been hands-off with respect to the legal cannabis trade.

Now, apparently, payment processors are starting to deny service to content creators who crowdfund on the artist subscription web platform Patreon.

A number of artists have noted that Patreon has “suspended” their accounts for what’s being reported as “implied nudity.”

Although some are blaming the payment processors (Stripe and PayPal), it’s alleged that the real culprits are the major banking networks.

One adult content creator’s page is “now effectively a tip jar, with a simple “Thank you” message in place of an about section or description.”

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
This entry was posted in accredited investor, Banks, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Investments, Jobs, Legislative Intent, review, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

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