The sex industry has turned to Bitcoin on other occasions and Edward Snowden recalled that “Only Fans” can also be helped by cryptocurrency.
It is worth noting that the news that shook the world today was announced by Only Fans, a subscription service based in London, UK. By creating the account on this platform, a user can buy adult content.
As it allows sexual content, Only Fans ended up becoming a haven for the adult entertainment industry, with people selling pornography, nudes, and more.
However, as expected, the banking industry began to create problems with the platform’s transactions. Companies that process payments are also not interested in serving the popular British site.
In fact, many people started selling their content, not just sexual, through the platform in the last year. Thus, a problem with the banking sector ends up being harmful to the global population that uses the service.
Some Twitter users have even said that people who work with this platform should look for more permissive environments. However, the banking ban is not against Only Fans only, but for any site that works with something related to the sex industry.
Edward Snowden Suggests Bitcoin Can Help Only Fans
Former CIA and NSA cybersecurity analyst Edward Snowden shared his views on the case involving the Only Fans platform on Thursday (19).
Outlawed after being censored by the government of the country he was born in, Snowden is now a Bitcoin enthusiast, which he considers to be a free technology.
Thus, he believes that Bitcoin can even help Only Fans to sponsor themselves, avoiding working with banks, which have put pressure on the business.
Bitcoin fixes this. https://t.co/W3ZGlAYJvo
— Edward Snowden (@Snowden) August 19, 2021
According to Bloomberg, Only Fans’ new ban is against explicit sex content. Even so, the popular platform should still allow the upload of nudes. The changes will take effect as early as next October and should take sexual content creators out of this platform.
In late 2020, the website ‘Pornhub’, which also allows people to market their videos, started to accept only cryptocurrencies as a means of payment, after Visa and Mastercard stopped processing customer transactions for that service. Apparently, another one who could find refuge would be Only Fans, in Snowden’s view.