For Sex Industry, Bitcoin Steps In Where Credit Cards Fear To Tread

Across the country, law enforcement is cracking down on sex trafficking of minors by going after online escort ads.

Five years ago, Craigslist was pressured to shut down its adult-services forum. The new target is — Visa and MasterCard stopped processing transactions with Backpage this summer.

Some in the sex industry are getting around that by using the virtual currency bitcoin. That’s the latest adaptation by an industry used to getting creative to avoid detection.

After making more than 800 arrests off Backpage since 2009, Cook County Illinois Sheriff Tom Dart called a news conference to announce a victory this summer.

“We want to commend both Visa and MasterCard for their civic responsibility, for so quickly acting when we talked to them. American Express has already done that. They’ve now been narrowed down to where there’s very little options for people who want to work with that website,” Dart said.

Read more ... source: TheBitcoinNews