Spoke with an anon source who had an interesting insight into Visa policy. Per a convo with their bank on the Steam/itchio situation today, Visa put new restrictions into place due to a new "government policy." The exact phrase used by Visa. No specific country was listed as the source of the policy
This is extremely fishy. The restrictions on Steam/Itch match the ones that Visa/MC put on Patreon all the way back in 2017, the only differences this time around is the tighter restrictions on watersports, which could be explained by the UK laws from a few years ago
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