Lightspark Gets Debanked by Bill.com
Lightning infrastructure service provider Lightspark revealed it had issues with its fiat financial services provider.
- "Cutting access to our legacy financial system for Bitcoin/crypto companies — even for pedestrian fiat-only services — is still alive and well. On Tuesday, Bill.com notified Lighspark that based on their processing banks requirements, they couldn’t serve us anymore. Yesterday, our account was shutdown," said Lightspark's CEO David Marcus.
- Marcus then pointed out that the terms of service Lightspark was pointed to didn’t even include services provided by the company but it didn’t matter.
"Whether your business is in crypto, or not, don’t work with companies that have a patronizing approach to what’s acceptable or not when your activity is 100% legal and compliant. Fortunately, Bill.com’s business is commoditized and easily replaceable by better, more modern service providers," added Marcus.
