2023-07-29 15:08:09
The financial company Mastercard has made it clear to institutions operating in the sector that it does not want to give its name to the purchase of cannabis. To this end, he asked the service providers not to allow such transactions with the company’s bank cards. This is a big blow to the already struggling marijuana business. Most banks operating in the United States of America do not want to talk to different companies that distribute weed, because marijuana is still illegal at the state level. It has been legalized in quite a few states for medicinal and recreational purposes, but its consumption is illegal in other areas of the country. “As soon as this problem was brought to our attention, we immediately put it under scrutiny. In accordance with our guidelines, we have instructed financial organizations that provide payment services to cannabis merchants and connect them to Mastercard’s system to cease their activities,” said a Mastercard spokesperson. “In the federal government’s view, the sale of cannabis is illegal, so these purchases are not allowed through our systems,” the spokesperson added. Brady Cobb, CEO of Sunburn Cannabis, said in a statement that “this move is another blow to the legal marijuana industry and patients/consumers.” “We will continue to speak out for cannabis reform in Washington. Our goal is to make cannabis free and legal across America. Because of this, we will continue negotiations with the elected representatives and the persons interested in the matter”, declared the president of the Verano pharmaceutical company, Darren Weiss. The US government is reluctant to give the green light to weed, so the players in the sector will not be able to breathe in the near future. The financial giant is also trying to comply with the laws, so it is not expected that they will ease their conditions. The hemp processing company Generation Hemp Inc. also recently announced that they are getting into bitcoin mining. While the interest in BTC mining is growing, the production of cannabis is becoming more and more impossible. What will this mean for miners in the future?
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