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  1. #1
    Flengo's Avatar
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    May 2010
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    Exclamation Rule Change: Cryptocurrency Payments and Refunds

    Up until now, we have been the decider for how refunds will be issues when there are issues with trades where cryptocurrency was used as the form of payment. Even then, there have been inconsistencies. I don't think this was a good decision to make and the rules regarding this will be changing.

    Cryptocurrency requires special refund rules because of its volatility, particularly BTC. In the past, we've forced the refund policy for crypto. But because of this volatility, there's usually a big loser in refunds which isn't really the case with FIAT currencies. There are valid arguments for both sides of how the refund should be.

    Going forward, we're going to leave this burden and decision on sellers. If sellers are going to be accepting cryptocurrency payments, they'll be required to have a refund policy clearly stating the method of refund. They'll have to state whether refunds will be provided in the exact crypto amount or the FIAT currency equivalent that was determined during their sale.

    This way, sellers have more control over their refund policy with crypto and buyers know exactly what to expect if problems occur.
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