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Mastercard Severs Ties With Pornhub — Is Mainstream Crypto Adoption Coming for the Porn Industry?

Global payment companies Mastercard announced on December 10, 2020, its official decision to ban their customers from using credit and debit cards to arrange purchases on one of the biggest adult websites. Visa has taken the same measure on a temporary basis.

Mastercard Cuts Ties With Pornhub Following Accusations

According to a statement sent through Bloomberg, Mastercard said that after investigating Pornhub “over the past several days,” which “confirmed violations of our standards prohibiting unlawful content on their site.”

Another payment processor giant, Visa, decided to block payments on Pornhub temporarily on the same day.

They referred to the accusations raised in a column published in the New York Times, who claimed the website allegedly was negligent in removing videos depicting child abuse and non-consensual violence, although Pornhub denies all the accusations.

However, Visa and Mastercard are not the first ones who cut ties, indefinitely so far, with Pornhub, as one year ago, Paypal decided to do the same by suspending payments that went to the adult website.

Back in January, Pornhub has been making steps towards crypto adoption. One of its first crypto payment methods added was tether (USDT), as in the announcement, the website detailed that the fact that the U.S. dollar backs tether makes it easier and secure for the user to send the payment.

The adult site clarified that users could take advantage of wallets that support Tron-based digital assets. Such announcement was backed at that time by Tron’s founder, Justin Sun, who said that “this is a brilliant way to support the victims of centralized payments platforms like Paypal.”

Followed by tether’s addition, Pornhub added bitcoin (BTC) and litecoin (LTC) as payment methods for its premium services since September 01, 2020. As of press time, it stands as the tenth most popular website in the world with 7.21 billion monthly visitors.

Is this good or bad for crypto? Let us know in the comments section below.

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