Cannabis is legal in most America but federal laws block businesses from banks

Re:Cannabis is legal in most America but federal laws block ... by shanebellone on Saturday December 24, 2022 @11:10AM (#34118128)

They'll never accept crypto.

They generally take cash, debit card, and a prepaid debit card (something prepaid like that) and use modern PoS.

Bank access is coming soon too.

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Re:Cannabis is legal in most America but federal laws block ... by mynameisvlad on Saturday December 24, 2022 @11:27AM (#34118311)

Some local stores actually tried crypto back when Bitcoin was exploding. It was so inconvenient and volatile that it only lasted months.

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Re:Cannabis is legal in most America but federal laws block ... by shanebellone on Saturday December 24, 2022 @11:51AM (#34118560)

Flower prices are dropping, and their cost is pretty close to fixed (with technology advancements representing a massive caveat).

Variability in currency would destroy these companies quickly.

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Re:Cannabis is legal in most America but federal laws block ... by jjulius on Saturday December 24, 2022 @11:20AM (#34118250)

>... debit card...

Technically, at least in CA/OR, they're often just processed as an ATM withdrawal that occurs at point of sale.

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Re:Cannabis is legal in most America but federal laws block ... by djbusby on Saturday December 24, 2022 @11:28AM (#34118319)

Cashless ATM is now blocked

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Re:Cannabis is legal in most America but federal laws block ... by jjulius on Saturday December 24, 2022 @11:31AM (#34118348)

I purchased via this method in Oregon this morning. Perhaps it'll change here soon.

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Re:Cannabis is legal in most America but federal laws block ... by shanebellone on Saturday December 24, 2022 @11:47AM (#34118517)

Doesn't seem to be the case in Massachusetts. Although I don't use my debit card anywhere.

What's the reason for CA/OR? Local banking shouldn't be an issue?

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