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

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

#111

Post by kube-system »

sebzim4500 wrote: post #109
kube-system wrote: post #74

Earlier quoted context omitted.

The law is inherently technical. "Technically illegal" is simply "illegal". And it is completely false that this only affects the "industry itself". There are other federal laws that concern the rights and privileges of people who use illegal drugs. For instance, if you use federally illegal drugs, you may not legally purchase (or possess) a firearm. There are other examples in terms of employment, etc.

What is written on some bit of paper somewhere is irrelevant. What matters is what is being enforced. If you can wave cannabis around in front of a policeman and have no fear of repercussions than it is legal in practice.

Those examples are being enforced.

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

#112

Post by susadmin »

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…

Yea not sure why the down-votes, this is a handy setup, thanks.

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

#113

Post by ausbah »

trillic wrote: post #92

Currently 37 of 50 states have some sort of law on their books allowing legal Cannabis sales in some form. The 13 with no legalization: Idaho Wyoming Nebraska Kansas Iowa Wisconsin Indiana Kentucky Texas Tennessee North Carolina South Carolina Georgia

most of these states have active efforts for legalization in at least some context, many have CBD legal but not THC (what gets you high), and at least in Kansas there is a "loophole" where hemp products can contain up to .3% THC (so just really big edibles)

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

#114

Post by eternalban »

trillic wrote: post #71
eternalban wrote: post #26

Earlier quoted context omitted.

As of now, you can definitely get your daily supply of Cannabis if you want. There are a lot of little businesses that legally sell it. So these federal laws are not preventing you from exercising your legal right to get high in e.g. NY state. I would like to get the pulse of hn on this: What do we think if e.g. the Coca-Cola Company got in the pot business? Is the fact that these Federal constraints are keeping big…

There are lots of really big businesses that sell it too. Cresco Labs, Verano Holdings, Curaleaf. Going to a Cresco run "Sunnyside" dispensary is like the Apple store of pot. It's kind of ridiculous.

> Going to a Cresco run "Sunnyside" dispensary is like the Apple store of pot. It's kind of ridiculous.

You were not kidding: https://www.crescolabs.com/ & hey, there is one near me.

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

#115

Post by BlargMcLarg »

wdb wrote: post #85

Still amazing that the country that started the drugs war is more liberal on this subject than The Netherlands were cannabis is illegal

In other news, despite stereotypes, the NL is not nearly as obsessed with recreational drugs as the US is.

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

#116

Post by [deleted] »

zdragnar wrote: post #91
Doubtme wrote: post #22

Earlier quoted context omitted.

Cannabis banking came up on this 1.7 trillion dollar bill that just got passed. It wasn't included thanks to Republicans.

I don't think it is unreasonable for them to have blocked it, for the simple reason it would allow banks to engage in businesses that are violating federal law. The only true policy is a coherent policy- anything else is just the whims of whoever holds executive fiat. It should just be fully legalized.

[deleted]

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

#117

Post by Doubtme »

zdragnar wrote: post #91
Doubtme wrote: post #22

Earlier quoted context omitted.

Cannabis banking came up on this 1.7 trillion dollar bill that just got passed. It wasn't included thanks to Republicans.

I don't think it is unreasonable for them to have blocked it, for the simple reason it would allow banks to engage in businesses that are violating federal law. The only true policy is a coherent policy- anything else is just the whims of whoever holds executive fiat. It should just be fully legalized.

- a law that makes it legal and safe for banks to engage in business with corporate cannabis companies that are also legal as defined by the states that have passed their own recreational and medical cannabis laws -

- Should be denied because its currently not passed yet

- https://www.congress.gov/bill/117th-congress/house-bill/1996

- Passed House (04/19/2021)

- " It should just be fully legalized " - https://www.youtube.com/watch?v=HrHecD8JhfY

- Then why does the government lie to its own people to push agendas ? Why is that allowed ?

- Oh right its because nobody knows how to read anymore. or educate themselves.

- Banks violate federal law on purpose pay a slap on the wrist fine and keep engaging in behavior that ruins the lives of millions around the world yet here you are FUCKING ACTING LIKE YOUR ABOVE ALL THIS BULLSHIT.

- Naw fam. Read.

- EDIT: fentanyl is a bigger priority. Yet you would probably convince yourself that somehow overdosing millions of Americans is completely fine unchecked - https://www.washingtonpost.com/health/2022/12/22/us-life-exp...

- " The fentanyl category of opioids accounted for 53,480 preventable deaths in 2020, representing a 59% increase over the 33,725 total in 2019. "

- " Preventable drug overdose deaths increased 34.4% in 2020, from 62,172 in 2019. In 2020, 83,558 people died from preventable drug overdoses – an increase of 649% since 1999. These deaths represent 91% of the total 91,799 drug overdose deaths in the United States, which also include suicide, homicide, and undetermined intents. "

- AND BANKS CANT TAKE CASH FROM ALREADY LEGAL BUSINESSES OK DUDE. WHATEVER YOU SAY

https://www.theguardian.com/world/2011/apr/03/us-bank-mexico...

https://www.scmp.com/magazines/post-magazine/books/article/3...

https://www.icij.org/investigations/fincen-files/global-bank...

https://www.reuters.com/business/finance/us-fines-16-major-w...

https://violationtracker.goodjobsfirst.org/industry/financia...

https://www.cnn.com/2022/12/20/investing/wells-fargo-cfpb-fo...

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

#118

Post by fineIllregister »

nonethewiser wrote: post #28
tyre wrote: post #23

Earlier quoted context omitted.

No, the US fought a war over slavery. The "states' rights" framing of the US Civil War skips over which specific right the southerns states were willing to die for. It wasn't abstract, though it was papered over as such. The history of later southern political leaders (e.g. Richard Russell) confirms that the fundamental issue was the enslavement (ideal, for them) or segregation and oppression of blacks in the US. Whi…

> No, the US fought a war over slavery. Seems to me these aren't mutually exclusive. I find your argument to be overly concerned with injustice of slavery. No one is defending it. And the southern states absolutely did not want to adhere to the laws set by the northern states.

> And the southern states absolutely did not want to adhere to the laws set by the northern states.

To add to the sibling comments, the southern states hated states' rights when northern states were liberating escaped slaves within their jurisdiction. The Fugitive Slave Act immediately destroys any argument that the Civil War was about states' rights.

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

#119

Post by wyldfire »

gamegoblin wrote: post #104
GeneralMayhem wrote: post #94

Earlier quoted context omitted.

>They had full control and could have legalized it That's not how the Senate works. A 50-50 "majority" is not full control. In any case, it's pretty silly to blame the party that's on your side for not being able to overcome the bad-faith obstructionism of the opposing party. It's not about political "footballs", it's about having finite time and public attention to be able to get things done. If every single fight h…

Yes, the current fillibuster rules require a 60-40 supermajority to get anything done, but the fillubuster rule itself can be changed with a simple majority of 50%+1. But the incentive structure is not there to actually change this rule -- both parties benefit from it.

> both parties benefit from it.

Is that really the case? It is a bias towards the status quo.

Regardless, IMO the constituents represented by those parties don't benefit from it.

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

#120

Post by glasss »

Worked with a cannabis client that was on Box for corporate file storage for a few years. One day all of their Box services stopped working, and we couldn't even get into the accounts to investigate.

Turns out Box realized this client was in the cannabis industry and shut their service off for violating TOS. We did get into the accounts after working with support so we could migrate, but there were no warnings. I guess reading and abiding by the TOS should be warning enough, but no one had actually read it.

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