OnlyFans has suspended the changed policy to ban sexual material from the platform. The platform says it has received “the necessary commitments” not to have to implement the amended policy.
The platform indicates on Twitter to suspend the forthcoming policy change. It is not clear whether this is a temporary or permanent suspension. The company also does not provide details of the “commitments needed” or “insurance” being discussed. Uploaders will be notified by the platform on Wednesday.
Earlier, CEO and founder Tim Stokely said banks threatened to halt payments to OnlyFans account holders. Banks would be afraid of damage to their reputation if they cooperated with the company. The platform may have been told by collaborating banks that they will not block payment transactions after all. Stokely also indicated in the interview that the platform would “welcome” sexually explicit material if banks changed their mind.
OnlyFans announced at the end of last week that it would ban sexually explicit material from the platform from October. Users were then no longer allowed to post images or videos of such actions, although nude photos and videos would still be allowed. Existing content should have been removed from the platform by December under this plan. The platform would mainly like to focus on musicians, fitness trainers and chefs.