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from the It's-not-easy-being-white-supremacists dept.
Over at the CCN, Gab is having trouble even getting its bitcoin on.
The declaration by free speech social network Gab that the firm was still allowed on Square’s bitcoin-friendly Cash App after being banned on other platforms may have been premature.
This emerged after the social media platform that is occasionally referred to as “alt-right Twitter,” over its popularity with extremist right-wingers, disclosed that the personal Square Cash account of the firm’s founder and CEO, Andrew Torba, had been deactivated.
Things like this are just bad for business.
Earlier this month as CCN reported, Gab had posted a tweet that gave the impression that Square’s Cash App — which allows users to buy and sell bitcoin — had reactivated Gab’s access. According to Breaker magazine, Square might have unknowingly reactivated an account belonging to Gab but will continue to “pro-actively delete any new accounts that it learned were connected with Gab.”
[...] Besides Square, other platforms that have banned Gab in the recent past include cryptocurrency exchange Coinbase, online payment processing firm Stripe, bitcoin payment service provider BitPay and online payments system PayPal.
Currently, bitcoin, as well as money orders and checks sent to its post office address, are the only ways for Gab to process payments for its premium service, GabPro. On January 8, Gab announced that it had integrated with open-source crypto payment processor BTCPay Server.
(Score: 0) by Anonymous Coward on Saturday January 12 2019, @05:03PM (1 child)
Aren't there "religious freedom laws" that allow de facto discrimination based on a customer's failure to meet the proprietor's litmus test of religiosity (e.g., the cake bakery)? If the financial institutions share a belief that "hate groups are bad" can't they use that litmus test to decide who they want to do business with (just like the cake bakery)?
(Score: 2) by Runaway1956 on Sunday January 13 2019, @02:08AM
Fail for two reasons.
First, bankers religion is money. Their only reason for existing, is to make ever more money. It makes no financial sense to turn away worshippers of money.
Second, that bit about "This note is legal tender for all debts public and private". The law of the land doesn't say "This not is legal tender for all debts, unless we don't like you." Such a law would justify all manner of discrimination, against any group, any time, or any place.
When all is said and done, when a banking institution refuses to do buisness with any group, they are discriminating. Said institution is no better than either Antifa, or any white supremacist group. The only criteria that a financial institution should use in doing business, is whether that business is profitable, and whether the institution is risking any of their own money.