Recently, due to pressure from radical groups and to protect their own brand reputations, financial institutions such as Visa and MasterCard have put pressure on gaming platforms like Steam and itch.io. The platforms have been forced to compromise and remove numerous adult games, sparking online controversy. However, this situation may be about to change.
According to a recent White House announcement, President Trump signed an executive order on August 7th, ensuring that financial institutions will not deny or restrict services based on factors such as "political, religious, or lawful business activities" to protect the American people's right to fair access to financial services. This order means that financial institutions such as Visa and MasterCard will no longer attempt to censor content on platforms as long as it falls within legal boundaries.
The executive order requires financial regulators to assume oversight responsibilities and require that financial institutions reviewing financial institutions remove terms such as "protecting brand reputation" from manuals and other materials. This means that financial institutions cannot use this as an excuse to terminate service contracts.
Furthermore, if financial institutions have already pressured or taken action against certain entities, they must remove all such content and complete relevant corrections within 180 days. This also means that platforms like Steam and itch.io can relist previously removed content without worrying about being cut off from payment channels.
Furthermore, Trump has asked the Treasury Secretary to develop comprehensive policies to prevent financial institutions from engaging in similar practices in other ways, and may even propose legislation and the establishment of a regulatory body if necessary.