API 5L permits welded pipe to be manufactured by a number of processes, among them continuous butt welding. Having been involved in its manufacture and testing, such pipe would never be recommended for Section I applications. Additionally, inspection and testing methodologies would not be acceptable under SA specifications. AS deanc so aptly stated there are too many flavors which would require prohibition.
Note that most manufacturers today tripple and quadruple stamp seamless carbon steel pipe as API 5LB, API 5LX-42, SA-53B and SA-106B.