Banks and payment processors (including credit card companies like Visa/MC) have no business delaying (or denying) payments of any kind for any reason unless it's genuine fraud or demonstrably illegal (money laundering, KYC-flagged stuff, etc.). Not to mention it's cutting off their nose to spite their face since they don't make money processing all the transactions they refuse. "Less money plz" is a strange policy for any financial institution to adopt.
Regulators failing to nip this in the bud just as the processors were dipping their toes in the water was a colossal mistake and lawmakers have fucked up hard by not acting directly to put a stop to this. Big tech going pro-censorship is one thing, but this behavior represents a major threat to the social contract by essentially denying people access to the entire financial system and blocking legal commerce. Society's not exactly holding up its end of the bargain if it won't let you even receive money from people (much less store it safely).