BitPay criticized for suspending Bitcoin donations to Hong Kong Free Press

BitPay, a Bitcoin payment processor, was criticized by the Hong Kong Free Press for arbitrarily suspending donations to the publication, alleges editor-in-chief Tom Grundy.

BitPay suspends donations to Hong Kong Free Press

BitPay was accused of suspending donations to the Hong Kong Free Press, said editor-in-chief Tom Grundy, amidst massive city-wide protests and clashes with mainland Chinese authorities.

The press agency started accepting Bitcoin and Bitcoin Cash donations through BitPay beginning in 2015 to help support the non-profit news organization, one of the few publications in China not entirely locked-down by the country’s colossal censorship apparatus.

So far, the payment processor platform accepted around $1,900 in BTC. But now, it seems, BitPay is tying-up access to these funds.

As Tom Grundy said on Twitter:

“Funds held for weeks simply because Hong Kong banks use SWIFT and not IBANs. Truly the worst experience you can imagine. Poor reputation, abysmal communication, horrible customer service, very high fees. Almost any alternative will be better.”

Due to the horrible experience, Grundy is even threatening legal action against BitPay. Considering the critical time for the organization in Hong Kong, perhaps the elevated response is justified.

BitPay’s controversial reputation

Over the last few months, BitPay has garnered criticism for failing to support major crypto wallets and for arbitrarily freezing customer payments.

Earlier last month, BitPay suspended a Bitcoin donation of $100,000 for exceeding the service’s payment limit. The funds were meant to go to the non-profit “Amazon Watch” to rehabilitate land after rainforest fires in the Amazon.

These issues, once again, emphasize that intermediaries—such as exchanges and payment processors—can fundamentally bottleneck the useful properties of Bitcoin as uncensorable and irreversible money.

The post BitPay criticized for suspending Bitcoin donations to Hong Kong Free Press appeared first on CryptoSlate.

Source: Cryptoslate

The year 2018 has been marked by a rapidly increasing interest in blockchain technology and its potential benefits to a...

Ethereum price is attempting a trend reversal but the primary catalyst might be Bitcoin’s price action in the wake of...

Justin Sun, the founder of TRON and the present chief executive officer (CEO) of BitTorrent, has recently announced TRON TV...

Cardano price has been shifting with Bitcoin as all the other altcoins have. Analysts propose that the king of crypto...

Press Release Tel Aviv, Israel – September 15, 2019: Today, ConsenSys unveiled ConsenSys Codefi, an “operating system” comprised of tools...

Crypto trading service Kraken has revealed the reason for the abnormal Bitcoin price on its platform was due to an...

Facebook’s Libra Coin has been all over the news the past few months as more tech giants invest in the...

Crypto privacy firm QEDIT’s zero-knowledge proof solution is now implemented by ConsenSys’s enterprise blockchain startup Kaleido. Enterprise blockchain startup Kaleido,...

UK cryptocurrency regulations have been the Financial Action Task Force (FATF) compliant, but it appears that the government may opt...

The Ethereal Summit is currently taking place in Tel Aviv, Israel. One of the more interesting panels was that of...

The organizations that have been working with the Mongolian crypto-mining projects aren’t shown any mercy and will be scrutinized under...

Ripple XRP price action is going through a fix, and the situation is certainly not helping Ripple despite the expansion...

Litecoin price action has been unstable for the past few days owing to the falling hashrate after the most recent...

Bitcoin mining difficulty is directly proportional to the hashrate, or so it the popular theory. The next halving event is...

The Aeternity Universe One conference all set and due on 20th and 21st of September in Prague. The Aeternity Universe...

There was a downside correction from the $10,954 swing high in bitcoin price against the US Dollar. The price is...

Lightning Labs has reportedly confirmed the existence and exploitation of Bitcoin Lightning Network vulnerability. The peer-to-peer payment network is responsible...

China’s cryptocurrency exchange’s founder, Bobby Lee, has expressed that the Bitcoin price will likely hit two hundred thousand dollars ($200K),...

Cryptocurrency traders in the United States of America (USA) are under the Federal agency Internal Revenue Services’ (IRS) gun lately....

Aventus Network reveals Ethereum-based ticketing protocol to stop fraud and provide more transparency to the event ticketing industry. The digital...

Cointelegraph en Español presents a weekly digest of selected cryptocurrency- and blockchain-related news from the Spanish-speaking world. The Spanish-speaking world...

Cryptocurrencies and their value can be determined from the fact that they, unlike the first monetary assets, weren’t created out...

In the latest, an EOS vulnerability led to a scam worth about thirty thousand dollars ($30,000) on an EOS decentralized...

Ethereum (ETH) surged today after the aggregated altcoin market responded bullishly to Bitcoin’s period of consolidation in the mid-$10,000 region....

The trading of cryptocurrencies often occurs via centralized platforms. In recent months, however, there has been an increase in popularity...

Weekend starts with a new attempt of buyers to fix themselves above the price mark of USD 10,300. Yesterday, Bitcoin...

Stellar-focused development company Interstellar has appointed Zelle founder Mike Kennedy as its new CEO. The company revealed the news on...

A recent report by ZenGO revealed Bitcoin scammers on the internet are using fake QR code generators to steal Bitcoin....

According to BTCC co-founder Bobby Lee, bitcoin price could reach $200,000 in a very short space of time from now....

After facing a sudden influx of selling pressure yesterday, Bitcoin’s bulls have been able to defend its position within the...

A hacker spent $1,000 in EOS to steal more than $110,000 in cryptocurrency by exploiting EOS game of chance EOSPlay....

Square Crypto, the crypto-focused branch of mobile payment company Square, provides a $100,000 grant to BTCPay Server to support open-source...

There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them...

Tron foundation keeps expanding its network into different sectors with its decentralized web, but the Dapp industry looks to be...

Ballet crypto wallet breaks the intangible boundaries that refrain people from letting go of ‘the old ways’ and adopting change....

Bitcoin price pattern seems rather familiar and with a good reason. BTC price re-visiting the 2015 trend all-in-all and an...

The high inflation figures for altcoins like ZCash (ZEC) and XRP are providing yet another basis for the “bitcoin is...

Chinese regulators are looking to heighten scrutiny on the cryptocurrency mining industry in Inner Mongolia. Regulators in the Chinese autonomous...

The IRS is using unreliable tax forms received from cryptocurrency exchanges to come after traders. Over the past month, we...

Prime brokerage firms are coming for crypto in what’s likely to be a race of winner-takes-almost-all. Goldman Sachs is synonymous...