UK impact Archives - Bitcoin Times https://www.bitcointimes.co.uk/tag/uk-impact/ The Latest UK Bitcoin and Crypto News Sun, 28 Jan 2024 17:23:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.bitcointimes.co.uk/wp-content/uploads/2023/02/cropped-Bitcoin-Fav-Logo-32x32.png UK impact Archives - Bitcoin Times https://www.bitcointimes.co.uk/tag/uk-impact/ 32 32 Crypto Struggles of US Sex Workers and the Potential Impact in the UK https://www.bitcointimes.co.uk/news/business/crypto-struggles-of-us-sex-workers-and-the-potential-impact-in-the-uk/ https://www.bitcointimes.co.uk/news/business/crypto-struggles-of-us-sex-workers-and-the-potential-impact-in-the-uk/#respond Sun, 28 Jan 2024 17:23:23 +0000 https://www.bitcointimes.co.uk/uncategorized/crypto-struggles-of-us-sex-workers-and-the-potential-impact-in-the-uk/ Sex workers in the US have turned to crypto in the face of financial discrimination, but are encountering limitations as exchanges and banks increasingly shut them out. This trend may have implications for the UK sex work community, as it also faces similar challenges in accessing banking and payments services. Potential Impact in the UK [...]

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]]> Sex workers in the US have turned to crypto in the face of financial discrimination, but are encountering limitations as exchanges and banks increasingly shut them out. This trend may have implications for the UK sex work community, as it also faces similar challenges in accessing banking and payments services.


Potential Impact in the UK

Banks and financial institutions’ refusal to work with sex workers in the US, coupled with the scrutiny of cryptocurrency, could prompt sex workers in the UK to explore alternative means of storing wealth and accepting payments. However, as seen in the US, they may encounter similar obstacles, impacting their financial stability and livelihood.


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The refusal of banks to work with sex workers impacts their financial stability.
”


Advocacy in the UK

Advocates in the UK are urged to consider the potential challenges faced by sex workers in accessing banking and payment services, and to seek measures to prevent similar discrimination. The issues outlined in the US may prompt UK policymakers to address the banking instability faced by sex workers, acknowledging the parallels in their struggle for financial inclusion.


Read more here at https://www.wired.co.uk/article/sex-workers-crypto-failing-them

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