PayPal drops domain registrar Epik over its ‘alternative’ digital currency

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PayPal may be friendlier to digital currencies, but that doesn’t mean it’s giving everyone a free pass. Mashable reports the payments giant has terminated the account for domain registrar Epik, known for serving right-wing havens like Gab and the Proud Boys, over financial risk issues. It didn’t outline what those risks were, but a Mashable source understood it had to do with the legality of Epik’s Masterbucks “alternative currency.”

Epik reportedly hadn’t taken the appropriate steps to legally offer Masterbucks, which let you pay for services both within Epik’s network and from partners. Moreover, the company was allegedly promoting tax evasion by touting the “tax advantages” of pouring money into the digital format. PayPal told Epik about these issues “over a month ago” and tried to cooperate on a solution, according to the source, but the two don’t appear to have come to an agreement.

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