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US drug control agency will move to reclassify marijuana

(apnews.com)
662 points JacobHenner | 7 comments | 30 Apr 24 17:32 UTC | HN request time: 0.001s | source | bottom
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mannyv ◴[30 Apr 24 18:15 UTC] No.40214223[source]▶
One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up.
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giantg2 ◴[30 Apr 24 19:33 UTC] No.40215259[source]▶
"One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up."

Assuming banks/processors don't decide to restrict them for other reasons.

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feoren ◴[30 Apr 24 19:39 UTC] No.40215344[source]▶
Wouldn't that be leaving money on the table? The bank that accepts business with marijuana vendors is at a competitive advantage to one that doesn't, no?
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1. giantg2 ◴[30 Apr 24 19:59 UTC] No.40215596[source]▶
Not necessarily. It depends on the risks, morals, and stuff like ESG. We've seen this with stuff like alcohol, tobacco, and guns.
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2. dghlsakjg ◴[30 Apr 24 20:11 UTC] No.40215721[source]▶
But you can buy alcohol, tobacco and guns with just about any payment method?
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3. ryandrake ◴[30 Apr 24 21:10 UTC] No.40216396[source]▶
Porn and gambling are probably better examples. They're kryptonite to payment processors due to the chargeback risk.
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4. anigbrowl ◴[30 Apr 24 23:38 UTC] No.40217798[source]▶
There is no liquor store in the country where you can't pay with a card. Well, maybe not Uncle Ted's Moonshine Shack, but realistically it's not something anyone has to worry about. Different funds may not invest invest in those thing, payment processors might charge some businesses a slightly higher premium, but Visa/MC are not gonna police your legal consumer purchases.
5. Jiro ◴[01 May 24 07:21 UTC] No.40220441[source]▶
https://en.wikipedia.org/wiki/Operation_Choke_Point
6. ajmurmann ◴[01 May 24 07:58 UTC] No.40220667{3}[source]▶
Gambling is actually illegal trough, no? AFAIK porn is the only proper example
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7. giantg2 ◴[01 May 24 10:34 UTC] No.40221528{4}[source]▶
Gambling varies by type and jursidiction.