That is where the financial giants impose their law. Legislation that is anachronistic in nature and not adapted to the new internet age makes it possible for financial titans like Mastercard to end up leading the charge when it comes to regulation.
That Mastercard and company have ended up getting into the shoes of ironclad regulators is a circumstance that would take root in September 11, 2001. Fragility, the universe of finance became an important political instrument. The North American get a dubai phone number country was forced to introduce strict rules to curb money laundering and also to impose more sanctions. In this new regulatory context, financial institutions had to block payments from people registered on a list of no more and no less than 1,604 pages.
Rules Against Online Gambling Sites Were Introduced
The United States Government threw itself into the arms of the financial institutions seeking help. And where the law ruled, at least money ruled. And something similar is happening today with the cannabis business. Although many states across the pond have legalized marijuana. Federal laws have deliberately dissuaded banks from doing business with cannabis companies.
Which has hindered the growth of this thriving industry. Last August, the adult content social network OnlyFans announced. That it would ban content of an explicit nature on its platform due to pressure from financial companies. Such as BNY Melon, Metrobank or JP Morgan. Shortly after, and in the face of vociferous protests from online porn activists, OnlyFans backed down and lifted the ban.
The Unusual Power of Finance Companies
The unusual power of finance companies in the network of networks inevitably undermines democracy
The protests now have their sights set on the duopoly exercised by Visa and Mastercard. In 2019, the left-wing pressure group SumOfUs submitted a proposal.
When it became public last year that 34 women had sued Pornhub for sexual exploitation. Visa and Mastercard scrambled to withdraw their services from the notorious online porn platform. Not wanting to link their respective brands to a company. That allegedly profited from the economic level of rape, misogynistic, violent and racist content and even child pornography.