Research suggest that the cryptocurrency ATMs encourage sex trafficking

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Cryptocurrency ATMs, according to the feds, may be facilitating sex trafficking.

The research identifies two major reasons why these kiosks or ATMs may be aiding illicit behavior. According to authorities from numerous federal agencies interviewed, "Bitcoin is the most often utilized virtual currency that agencies have witnessed enabling unlawful activity."

The GAO released a study in June 2021 on payment methods used by platforms in the American online commercial sex market, which it alleges can be utilized for unlawful sex trafficking.

Aside this, the government of most countries banned crypto related activities because most of the bad eggs hide under it umbrella to carry out illicit activities.

 

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The major challenge with cryptocurrency is that it is very difficult to ascertain the sources of the transaction. The source of the fund remain unknown, which is why it is used to perpetrate variant illicit activities. Most of the government in most countries banned the use of cryptocurrency so as to cushion the effect of illegal activities. In my country, the government also claimed that cryptocurrency is used to fund terrorism and it is crystal clear that this type of currency may cause more harm and that is why it was banned. Using to fund sex trafficking is extremely possible.