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The creator of OnlyFans has spoken out for the first time since it was announced that the platform would be banning sexually explicit content from October.
After the announcement was made, the company was met with a backlash from some OnlyFans users who sell adult content on the site.
However, creator Tim Stokley has said banks are to blame for the change.
Speaking to The Financial Times, he said: "The change in policy, we had no choice - the short answer is banks."
Stokely went on to say that banks had warned him they were incurring 'reputational risk' by handling OnlyFans' finances.
He added: "We pay over one million creators over $300 million every month, and making sure that these funds get to creators involves using the banking sector."
Stokely said he would 'absolutely' allow X-rated material on the site in the future if the banks allowed it.
"This decision was made to safeguard their funds and subscriptions from increasingly unfair actions by banks and media companies," he said.
"We obviously do not want to lose our most loyal creators."
Although open to everyone, OnlyFans has been hugely popular with sex workers who - until now - were able to choose the content they share on their own terms.
But earlier this month, it announced 'sexually explicit' content would not be allowed, although nudity would still be permitted, as long as it fits with the company's guidelines.
In a statement, OnlyFans told LADbible: "OnlyFans will prohibit the posting of any content containing sexually-explicit conduct. In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines.
"Creators will continue to be allowed to post content containing nudity as long as it is consistent with our Acceptable Use Policy.
"These changes are to comply with the requests of our banking partners and pay-out providers.
"We will be sharing more details in the coming days, and we will actively support and guide our creators through this change in content guidelines.
"We remain dedicated to our community of 130 million users and over two million creators that have earned over $5 billion on our platform.
"OnlyFans remains committed to the highest levels of safety and content moderation of any social platform. All creators are verified prior to being able to upload any content to OnlyFans, and all uploaded content is checked by automated systems and human moderators."
Featured Image Credit: OnlyFans
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