Sex Workers Took Refuge in Crypto. Now It’s Failing Them.

Sex workers turned to cryptocurrency to escape banking and payment restrictions, but the article reports that crypto is failing them because it still depends on the banking system. Allie Eve Knox and Allie Rae describe losing bank accounts and payment apps, with Rae saying no major bank would give her a business account. Crypto exchanges also ban sex workers, leaving them with money they cannot spend, and WetSpace, Rae's crypto-centric OnlyFans alternative, depends on a bank account that may be withdrawn. Mike Stabile of the Free Speech Coalition argues that campaigning for laws against banking discrimination is a better investment than building an alternative financial system.