The latest problem came earlier this month when OnlyFans announced it would ban sexually explicit content on the sex-friendly creator site, only to reverse course days later following a backlash.
Jeff Dillon, chief development officer at Nafty, a cryptocurrency platform launched this year specifically for the adult industry, said the OnlyFans saga “has done more than any marketing we could ever paid for.”Dillon said the sex industry has paved the way for other innovations online, such an online credit card payments and instant verification, and that it may do the same for cryptocurrency if payment processors make it more difficult.Dominic Ford, founder of JustFor.
“Sex workers should have the opportunity to join a platform that won’t be subject to any payment processing restrictions, something that the other OnlyFans alternatives that use fiat may be subject to in the upcoming months/year.” Visa and Mastercard temporarily banned payments last year to sites owned by porn giant MindGeek, which owns PornHub and other sites, over reports that it was hosting non-consensual “revenge porn”.Ford said congressional passage of the FOSTA-SESTA law in 2018 created pressure on the adult content industry by holding online services liable for illegal content such as child exploitation or sex trafficking.
“I’d like to see banking institutions and payment processors get with the times and be more liberal about the kind of businesses they allow.”“We will be looking to implement crypto and other alternative payment mechanisms as a backup and a option to support crypto enthusiasts but certainly not as a primary source for accepting or sending funds,” said a spokesperson for the British-based adult social media platform Unlockd.
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