Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

usatoday.com

Post reply on HN
Print view View original

11–20 of 247 posts

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#11

Post by [deleted] »

shanebellone wrote: post #8
acapybara wrote: post #2

For these businesses, I'd set up something like a myNode [1] or a RaspiBlitz [2]. This way, all the merchant needs is an internet connection. Granted, customers will need something like BLW [3]. If they've got no other options to pay the merchant, then that should be sufficient. Accept either physical Federal Reserve Notes, or decentralized electronic payments. 1. https://mynodebtc.com/ 2. https://shop.fulmo.org/rasp…

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.

[deleted]

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#13

Post by funstuff007 »

michaelsshaw wrote: post #7
funstuff007 wrote: post #3

Didn't we fight the bloodiest war in the history of this country based on which laws (State or Federal) had primacy? And it's still not settled due to Obama's weed policies.

Federal laws do trump state laws in most cases, it is settled. This case is due to the fed's noninterference policy, which they chose for themselves, it's not being forced on them because of some Civil War-era debate.

The Feds should never fear interfering with state laws when federal law is in direct opposition. It's the basis of the entire system.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#15

Post by jjulius »

kube-system wrote: post #14

I am pro legalization, but I hate headlines like this. It's not accurate and it's not productive. Cannabis is prohibited by at least one law everywhere in the US.

How is it inaccurate? Cannabis is legal in much of the country (at the state level) and the businesses are blocked from much of the banking system because it's federally illegal.

Edit: OP, if you're going to completely change the last sentence of your post after people respond, which then changes your point, at least highlight that you've made a significant change.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#16

Post by gamegoblin »

Prediction: Dems will make a move on federal legalization in the months before the 2024 presidential election, or at least make federal legalization a major election issue.

A lot of right wing / libertarian adjacent people were hoping Trump would come out in favor of it as a 2020 election issue, to outflank Biden on at least one issue. It didn't happen, but I bet it would have made the election a bit closer -- it would have cooled support for Biden by a lot of younger and disillusioned voters.

I predict they'll make it a campaign issue and force the Republican candidate to come out strongly against it, to try to cool support from a lot of younger and pro-legalization Republicans.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#17

Post by shanebellone »

sethd wrote: post #9
acapybara wrote: post #2

For these businesses, I'd set up something like a myNode [1] or a RaspiBlitz [2]. This way, all the merchant needs is an internet connection. Granted, customers will need something like BLW [3]. If they've got no other options to pay the merchant, then that should be sufficient. Accept either physical Federal Reserve Notes, or decentralized electronic payments. 1. https://mynodebtc.com/ 2. https://shop.fulmo.org/rasp…

I believe you’re being downvoted because the solution you’re proposing does not handle any of the problems solved by a bank.

To be more specific... too much cash is dangerous and impractical.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#18

Post by JumpCrisscross »

ksherlock wrote: post #10
funstuff007 wrote: post #3

Didn't we fight the bloodiest war in the history of this country based on which laws (State or Federal) had primacy? And it's still not settled due to Obama's weed policies.

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

The comment you’re responding to is referring to the supremacy clause.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#19

Post by amanaplanacanal »

funstuff007 wrote: post #13
michaelsshaw wrote: post #7

Earlier quoted context omitted.

Federal laws do trump state laws in most cases, it is settled. This case is due to the fed's noninterference policy, which they chose for themselves, it's not being forced on them because of some Civil War-era debate.

The Feds should never fear interfering with state laws when federal law is in direct opposition. It's the basis of the entire system.

The Feds don’t have the resources to handle local law enforcement, even if they wanted to. I can’t see that this is a way for either party to pick up a bunch of votes, so interest is low.

Re: Cannabis is legal in most US states but federal laws block businesses from banks

#20

Post by jjulius »

shanebellone wrote: post #8
acapybara wrote: post #2

For these businesses, I'd set up something like a myNode [1] or a RaspiBlitz [2]. This way, all the merchant needs is an internet connection. Granted, customers will need something like BLW [3]. If they've got no other options to pay the merchant, then that should be sufficient. Accept either physical Federal Reserve Notes, or decentralized electronic payments. 1. https://mynodebtc.com/ 2. https://shop.fulmo.org/rasp…

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.

>... debit card...

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

Post reply on HN