Tim Stokely the founder of Onlyfans is blaming banks such as JPMorgan Chase as the reason why the app must ban sexual content due to their refusal to work with the company otherwise.
"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," said in an interview with the Financial Times.
However he isn't ruling out in the future that the app would allow sexually explicit videos to return if the climate becomes more friendly to such things.
The policy change goes into effect on October 1st, nudity is still reported to be allowed as long as it doesn't violate the terms of the platform.