Crypto link with sex and drugs in the spotlight

June 26, 2018
Richard Reed

The use of cryptocurrencies in the sex and drugs trades has come under the spotlight after the US House of Representatives approved a new study on the issue.

Congressmen have passed a bill which – if approved by the Senate and president Trump – will authorise research into “how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and for other purposes.”

The bill’s author, Juan Vargas, said the bill was “an important first step in helping Congress understand the full extent of how virtual currencies are being used to facilitate drug and sex trafficking and will help us propose effective legislative solutions to fight these crimes”, according to CoinDesk.

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