Re:Credit-card firms are becoming reluctant regulators of th...
by nobody9999 on Monday October 11, 2021 @01:36PM
(#28830794)
>If it's legal then banks should have no choice but to handle it.
Right. But banks are regulated by the US Federal government. And according to US federal law[0], possessing and selling cannabis is just as illegal as possessing and selling methamphetamine or heroin.
As such, unless and until that changes, the banks aren't going to involve themselves in what the US Federal government deems a felony, regardless of what the several states do.
Right. But banks are regulated by the US Federal government. And according to US federal law[0], possessing and selling cannabis is just as illegal as possessing and selling methamphetamine or heroin.
As such, unless and until that changes, the banks aren't going to involve themselves in what the US Federal government deems a felony, regardless of what the several states do.
[0] https://en.wikipedia.org/wiki/Controlled_Substances_Act