Crypto money gains traction in adult industry amid OnlyFans drama | Malay Mail

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WASHINGTON, Aug 30 — Porn stars, sex workers and others in adult entertainment were taking a closer look at cryptocurrency payments in the wake of a series of troubles with the mainstream financial system, potentially propelling digital currencies into wider use. The latest problem came earlier...

WASHINGTON, Aug 30 — Porn stars, sex workers and others in adult entertainment were taking a closer look at cryptocurrency payments in the wake of a series of troubles with the mainstream financial system, potentially propelling digital currencies into wider use.

With stricter rules from payment processors and the recent issues with OnlyFans, “it’s obvious crypto will be the solution,” said British performer Adreena Winters, who is also a brand ambassador for an upcoming crypto-friendly adult content marketplace. “A cryptocurrency that works online and transcends borders seems an obvious evolution like email was the evolution of mail,” said Ford.

While bitcoin and other digital currencies have seen extreme volatility, adult operators say they can avoid those issues by using them for immediate payments without storing them.OnlyFans was not the only online service to struggle with acceptance of mature content. Shortly after passage of the law, the social network Tumblr banned explicit content, resulting in a precipitous drop in usage.

“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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