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 any messages, content, or materials” that “promotes misinformation.”
But the screenshot of the policy says otherwise. PayPal caves after social media backlash. Read the full story below!https://t.co/5KX1d6O3RP pic.twitter.com/aWEdw86Xvd
— thetechstartups (@thetechstartups) October 9, 2022
PayPal has since told multiple outlets reporting on the clause that the updated AUP went out in error and included incorrect information, clarifying that it would not fine its users for spreading misinformation:
“PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy […] Our teams are working to correct our policy pages. We’re sorry for the
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