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BitPay In Troubled Waters Again As Row Erupts Over Suspension Of Funds Transfer

The cryptocurrency wallet – processor BitPay is facing a fresh wave of protests over its failure to transfer donation funds to Hong Kong.

Tom Grundy, the editor-in-chief and founder of Hong Kong Free Press said in a tweet that BitPay has allowed a transfer of only $1900 to HKFP as donations since 2015, a situation which is aggravated in the past three weeks ever since BitPay has shut funds transfer to Hong Kong. Saying that the funds have been held simply because of the fiat system between IBAN and SWIFT, Mr. Grundy went on to highlight insufficient crisis response and poor customer services of BitPay.

Some time ago, donations meant for fighting the Amazon fires also met the same fate. Many such practices of BitPay has troubled crypto users for a while now. Their argument supports Bitcoin use to be free of intermediaries and such hurdles that stop its free movement.

Previously, there have been grievances involving other aspects of BitPay business practices. Such as force reduction in Bitcoin usage and no support for many major wallets, besides freezing of funds transfers.   

Bitcoin represents a free feature of the global payment mechanisms, and Hong Kong Free Press had been using BitPay to harness donations via Bitcoin by converting all incoming donation from crypto to dollars. With no source of funding left, the Hong Kong Free Press media outlet is finding it hard to keep up its fight over the Anti Extradition Amendment Bill, in a country where balanced media is close to nil. 

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