*Tim Stokely, CEO and founder of OnlyFans, is speaking out about the controversial decision to ban sexually explicit content from the platform
In an interview with Financial Times, Stokely said banks have refused to work with the company due to users who sell explicit content.
“The change in policy, we had no choice — the short answer is banks,” Stokely said.
“This decision was made to safeguard [our users’] funds and subscriptions from increasingly unfair actions by banks and media companies — we obviously do not want to lose our most loyal creators,” Stokely told the Financial Times.
The policy change will go into effect on Oct. 1.
READ MORE: OnlyFans Announces New ‘OFTV’ App That’s SFW (Safe for Work)
Dear Sex Workers,
The OnlyFans community would not be what it is today without you.
The policy change was necessary to secure banking and payment services to support you.
We are working around the clock to come up with solutions.#SexWorkIsWork
— OnlyFans (@OnlyFans) August 21, 2021
We previously reported… the OnlyFans app has rolled out a new OFTV free streaming service that will not include any sexually explicit material.
As reported by Complex, “the London-based company announced the formal launch of OFTV, which is billed as a “new free streaming service and app” featuring original content from OnlyFans creators in a variety of spaces spanning from fitness to cooking. The still-growing library, per OnlyFans, features both long-form and short-form content from hundreds of creators that’s exclusive to fans,” the outlet writes.
Stokely said OnlyFans would lift the ban on X-rated content if banks stop discriminating against sex workers.
“We made it a brand that people know, and to go back on the people who built it, it’s pretty awful,” model and OnlyFans user Courtney Tillia told PEOPLE.
“I fell in love with being liberated and being able to share myself in different ways. I started this for my own expression,” she added. “I had no idea there was so much money to be made in it as there is.”
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