Geyser Halts Crowdfunding for Projects in Conflict Zones

20 Sept

Geyser, a Bitcoin crowdfunding platform, has announced a policy shift, effective immediately. The platform will no longer list or support projects raising funds for or operating within sensitive conflict zones. This decision marks a departure from Geyser's long-standing commitment to providing crowdfunding access globally, particularly for those in underserved regions.

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In the statement, Geyser said that the move was not made lightly, acknowledging that it would likely lead to disappointment among some of its users. The company has built a reputation for empowering creators and innovators worldwide, using Bitcoin to drive positive change. Nevertheless, rising scrutiny over the movement of funds, especially in conflict areas, has led to concerns about the potential misuse of funds for criminal activities, resistance movements, or even war financing.

Despite the decentralized nature of the platform, which does not take custody of funds or require identification from users, Geyser explained that the risk of funds being diverted for malicious purposes remains a pressing concern. According to the company, these risks could ultimately lead to the introduction of stricter and more intrusive verification measures—steps Geyser prefers to avoid.

The platform stressed that there is no evidence to suggest any past misuse of funds raised through its projects. However, in light of growing risks, Geyser made the proactive decision to stop supporting projects in conflict zones. The company reaffirmed its belief that, for such sensitive cases, protocols are a more suitable solution than platforms, indicating a shift towards decentralized solutions where possible.

Geyser's leadership remains committed to supporting creators and educators advancing Bitcoin adoption globally. The platform plans to focus on these initiatives going forward, ensuring that its mission to foster Bitcoin innovation continues without compromising security or ethical standards.

For more details on the specific regions affected by this policy change, Geyser directs users to its official documentation.

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