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US drug control agency will move to reclassify marijuana

(apnews.com)
662 points JacobHenner | 3 comments | 30 Apr 24 17:32 UTC | HN request time: 0s | source
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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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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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dghlsakjg ◴[30 Apr 24 20:11 UTC] No.40215721{3}[source]▶
But you can buy alcohol, tobacco and guns with just about any payment method?
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1. ryandrake ◴[30 Apr 24 21:10 UTC] No.40216396{4}[source]▶
Porn and gambling are probably better examples. They're kryptonite to payment processors due to the chargeback risk.
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2. ajmurmann ◴[01 May 24 07:58 UTC] No.40220667[source]▶
Gambling is actually illegal trough, no? AFAIK porn is the only proper example
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3. giantg2 ◴[01 May 24 10:34 UTC] No.40221528[source]▶
Gambling varies by type and jursidiction.