Interesting Change in Clause for PayPal

Some of you might find it interesting that PayPal's policy has recently changed and they are cracking down on virtual currencies. You may NOT use paypal to facilitate any virtual currency/forex transfer or sale.

This is mostly to combat Bitcoin and other crypto-currencies it seems, as these are the people they appear to be targeting with locks... but that'll spill over I am sure. I wonder if they'll start giving overstock.com a hard time since they accept Bitcoin payments and Paypal. Sounds like a nerve has been struck.

Here's an image regarding someone's paypal:


Later, PayPal slightly recanted, saying the sale of mining equipment is alright... Which is incredibly obvious that is a must, since people use graphics cards pretty heavily for mining, or any computer at all could be considered a mining rig.

You still absolutely cannot transact with virtual currencies.

Here's a statement from their president and a response from someone, maybe you'll have a direct answer regarding video game gold:

I thought you weren't allowed to use paypal to sell/buy virtual currency, items, or anything really, unless I'm wrong on that

chocolatnave wrote:I thought you weren't allowed to use paypal to sell/buy virtual currency, items, or anything really, unless I'm wrong on that

Paypal rules haven't had anything against the sale of virtual goods. Virtual currency is different to goods.

In the past, I have been able to tell paypal that I was buying and selling virtual currency. Any time they had a question about my account. That was never a problem, now it is. You should refer to the gold as nothing more than virtual goods, or virtual "items" .. even game items is good. If you tell them it's virtual gold/money/game money now you're boned.