Rep Brad Daw wrote a section of his 2018 bills to create a state contract for a “medical cannabis payment processor”. The idea is to resolve “problems” with using credit or debit cards to purchase cannabis, since there’s some concern about using all-cash with banks (like Colorado started with).
We are not convinced there is really a transaction problem, and we feel this “payment processor” clause is potentially a method for providing legislator’s friends a foot in the door of a lucrative cannabis marketplace.
We are not convinced there is really a transaction problem, and we feel this “payment processor” clause is potentially a method for providing legislator’s friends a foot in the door of a lucrative cannabis marketplace.
We’ve told people that cannabis transactions are not a problem for most dispensaries in states that legalized sales, and this story proves it. The new cannabis industry in Maryland has found a way to do business through banks, without drawing the scrutiny of federal regulators.
Opponents to legalization in Utah keep grumbling about “Big Cannabis” as they set up the system to profit from legalization (which seems odd, because they’ve opposed legalization…). Could it be they’re annoyed because the timeline has been moved up, and they’re not ready? Only they know for sure…..
#utleg #utpol #MMJ #Truce #UtahNext
See full article – A Maryland bank is quietly solving the marijuana industry’s cash problem
