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Sex Workers Turn to Crypto Amid Stricter Industry Regulations

Published 05/28/2022, 08:10 AM
Updated 05/28/2022, 08:30 AM
© Reuters. Sex Workers Turn to Crypto Amid Stricter Industry Regulations

  • For many sex workers, Bitcoin is a way for them to reclaim their financial independence.
  • Crypto allows sex workers do deal with the issue of chargebacks.
  • Crypto also enables sex workers to avoid payment processors that can block their accounts at any time.

For many sex workers, bitcoin is a way for them to reclaim their financial independence and it is almost turning into an industry standard.

The US passed a federal law designed to eliminate online sex trafficking in 2018. The Fight Online Trafficking Act and Stop Enabling Sex Traffickers Act, or FOSTA – SESTA, meant that the owners of web sites could face criminal charges for content that promoted trafficking.

This law was one of the reasons for the demise of Backpage, once the bastion of online ads for sex workers.

Unfortunately, this law did not have the desired effect as it only drove the trade further underground and many sex workers resorted to working on the streets.

Crypto allows sex workers do deal with the issue of chargebacks, in which a transaction is reversed when a customer claims they have been ...

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Latest comments

All the government does is make a law. They should stop spending so much money abroad, and invest in the manpower to clean out the hole those people live in. And, in a few years the hole would be clean. Then, move on.
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