Marijuana Banking, Cryptocurrency Regulation May Be Combined Into Single Bill – PYMNTS.com
Proposed rules for marijuana banking and cryptocurrency regulation may be combined into a single bill.
The legislation has not been finalized, but there have been talks in the U.S. Congress about combining a cannabis bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, and a stablecoin measure, Marijuana MomentreportedSunday (April 14).
Senate Majority Leader Chuck Schumer (D-NY) has said that he aims to pass legislation to safeguard cannabis banking and achieve that in the weeks and months ahead, according to the report.
The SAFER Banking Bill has been awaiting action by the Senate since being passed by the Senate Committee on Banking, Housing and Urban Affairs in September 2023, Seeking AlphareportedMonday (April 15).
The bill could impact a number of multistate operators and cannabis exchange-traded funds (ETFs), according to the report.
It was reported April 1 that while more than half of all Americans live in a state that has legalized marijuana, banks wont work withcannabis sellersbecause the drug is still illegal under federal law.
As a result, legitimate cannabis businesses still find themselves wondering what to do with all their cash, as it is nearly impossible for them to accept payments in anything other than cash.
While the U.S. House has passed a bipartisan bill that would make it easier for cannabis companies to find banking services, the Senate has never voted on its version. However, that vote could come this year.
Some saw a possible opening of the door to more cohesive payments systems in the sector in August 2023, when U.S. health officials recommended easingrestrictions on cannabisand reclassifying it as a Schedule III drug under the Controlled Substances Act.
Currently, cannabis is classified as a Schedule I substance, which implies a high risk of abuse and no accepted medical use. If cannabis were to be reclassified as a Schedule III drug, it would be seen as less dangerous and could be obtained legally with a prescription.
As an indicator of the size of potential business payments, the business-to-business (B2B) cannabis platform LeafLinkreported that it passed the $1 billion transaction mark in September 2022 with its payment solutions and expected more growth.
Continued here:
Marijuana Banking, Cryptocurrency Regulation May Be Combined Into Single Bill - PYMNTS.com
- 1 Top Cryptocurrency to Buy Before It Soars 5,000%, According to Cathie Wood - The Motley Fool - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving - Investopedia - April 16th, 2024 [April 16th, 2024]
- Special Report: Cryptocurrency scams on the rise | News | kxly.com - KXLY Spokane - April 16th, 2024 [April 16th, 2024]
- 1 Top Cryptocurrency to Buy Before It Soars 3,186%, According to Cathie Wood - The Motley Fool - April 16th, 2024 [April 16th, 2024]
- Nimiq Pay: Connecting Cryptocurrency with Daily Payments - hackernoon.com - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency scams on the rise | Video | kxly.com - KXLY Spokane - April 16th, 2024 [April 16th, 2024]
- Markets flash early signs of risk from wider Mideast war as crypto prices sink after Iran launches wave of drones at Israel - Fortune - April 16th, 2024 [April 16th, 2024]
- Schumer And Key House Lawmakers Discuss Merging Marijuana Banking Bill With Cryptocurrency Reform - Marijuana Moment - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency on Track to Achieve Mainstream Asset Status within Five Years, 50% of Respondents Confident ... - CXOToday.com - April 16th, 2024 [April 16th, 2024]
- The rise and fall of cryptocurrency giant Binance in Nigeria - The Africa Report - April 16th, 2024 [April 16th, 2024]
- The 208: Cryptocurrency must be reported to the IRS - KTVB.com - April 16th, 2024 [April 16th, 2024]
- 3 Cryptocurrency Meme Coins Set To Surge 200% Post Bitcoin Halving - Watcher Guru - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency: 3 Coins To Buy Amidst The Market Dip - Watcher Guru - April 16th, 2024 [April 16th, 2024]
- RANAEX Secures US MSB Registration: Elevating Trust and Compliance in Cryptocurrency Trading - AccessWire - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency Filecoin Up More Than 4% In 24 hours - Investing.com UK - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency: 3 Coins That Could Hit All-Time Highs This Week - Watcher Guru - April 16th, 2024 [April 16th, 2024]
- UEX.Finance in a Cryptocurrency Exchange Overview | Mint - Mint - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency Alternatives: Emerging Coins to Outshine Shiba Inu in 2024 - Geeks World Wide - April 16th, 2024 [April 16th, 2024]
- Cryptocurrency Stellar's Price Increased More Than 3% Within 24 hours - Investing.com UK - April 16th, 2024 [April 16th, 2024]
- Bitcoin Halving Set to Shake Cryptocurrency World, Miners Brace for Massive Revenue Drop - West Island Blog - April 16th, 2024 [April 16th, 2024]
- Bitcoin (BTC) Halving Creates Uncertainty In the Cryptocurrency Market, How will This Affet Cardano (ADA) and 2000x ... - The Portugal News - April 16th, 2024 [April 16th, 2024]
- Title: Unlocking Cryptocurrency Success with BEFE, BRISE, and CENX - Geeks World Wide - April 16th, 2024 [April 16th, 2024]
- Navigating High ROI in Cryptocurrency: Ethereum (ETH), Shiba Inu (SHIB), and Furrever Token (FURR) - Yahoo Finance - April 13th, 2024 [April 13th, 2024]
- From Cryptocurrency to Cinema: SHIB's Groundbreaking Deal with CDSA - hackernoon.com - April 13th, 2024 [April 13th, 2024]
- No one needs this cryptocurrency-powered Steam Deck competitor - Ars Technica - April 13th, 2024 [April 13th, 2024]
- What is Bitcoin halving and is it a good time to buy? - Quartz - April 13th, 2024 [April 13th, 2024]
- Psycholinguistic and emotion analysis of cryptocurrency discourse on X platform | Scientific Reports - Nature.com - April 13th, 2024 [April 13th, 2024]
- Cryptocurrency Prices And News:Cryptos Slide On CPI Report; Bitcoin Halving Ahead - Investor's Business Daily - April 13th, 2024 [April 13th, 2024]
- Analyzing the Surge in Cryptocurrency Popularity: Bitcoin Phenomenon - Eye On Annapolis - April 13th, 2024 [April 13th, 2024]
- Cryptocurrency Price on April 12: Bitcoin trades above $71,000; Ethereum, Toncoin decline up to 3% - The Economic Times - April 13th, 2024 [April 13th, 2024]
- This Cryptocurrency Exchange-Traded Fund (ETF) Could Soar 5,300%, According to Cathie Wood's Ark Invest - Yahoo Finance - April 13th, 2024 [April 13th, 2024]
- Is the Perfect Time to Invest in Cryptocurrency Post-Bitcoin Halving? - Yahoo Finance - April 13th, 2024 [April 13th, 2024]
- Unsolved mystery: How much power is crypto using? - E&E News by POLITICO - April 13th, 2024 [April 13th, 2024]
- Dogecoin Co-Creator Billy Markus Sarcastically Signals Caution Amid Cryptocurrency Market Crash: 'Oh No Everything ... - Investing.com UK - April 13th, 2024 [April 13th, 2024]
- Westlake convenience store owner helps thwart crypto scam - WKYC.com - April 13th, 2024 [April 13th, 2024]
- Millennials and Gen Z are as likely to own cryptocurrency as they are real estate - PR Newswire - April 13th, 2024 [April 13th, 2024]
- TON blockchain on Telegram teams with HashKey to help Asian users trade crypto - South China Morning Post - April 13th, 2024 [April 13th, 2024]
- Cryptocurrency Regulations and Safety Measures in the USA and New York: Exploring No-KYC Exchanges - FinSMEs - April 13th, 2024 [April 13th, 2024]
- This Popular AI Cryptocurrency Explodes by 15% Following Support From Binance - CryptoPotato - April 13th, 2024 [April 13th, 2024]
- PricePrediction.AI Revolutionizes Cryptocurrency Research with Free AI-Powered Platform - PR Web - April 13th, 2024 [April 13th, 2024]
- Cybersecurity professional sentenced to prison for $12 million cryptocurrency theft - NewsBytes - April 13th, 2024 [April 13th, 2024]
- 10 Emerging Cryptocurrency Picks for Potential Wealth in 2024 - Analytics Insight - November 23rd, 2023 [November 23rd, 2023]
- DeFi Technologies to launch XRP ETP in Europe in December By Investing.com - Investing.com - November 23rd, 2023 [November 23rd, 2023]
- We are all tech lawyers now the future of cryptocurrency - Law Society Journal - November 23rd, 2023 [November 23rd, 2023]
- Bitcoin and Ethereum see weekly gains amid mixed cryptocurrency ... - Investing.com - November 23rd, 2023 [November 23rd, 2023]
- Justin Sun's cryptocurrency venture loses over $100m in recent hack - crypto.news - November 23rd, 2023 [November 23rd, 2023]
- Blockchain Beyond Cryptocurrency: Exploring its Potential Across ... - Robotics and Automation News - November 23rd, 2023 [November 23rd, 2023]
- US Department of Justice to Announce Cryptocurrency Enforcement ... - Tekedia - November 23rd, 2023 [November 23rd, 2023]
- Exploring Cryptocurrency Horizons: A Comparative Analysis of ... - Finbold - Finance in Bold - November 23rd, 2023 [November 23rd, 2023]
- Three Men Arrested For Complex Bank Fraud And Cryptocurrency ... - Department of Justice - November 23rd, 2023 [November 23rd, 2023]
- Analysis of Solana Cryptocurrency - ForexLive - November 23rd, 2023 [November 23rd, 2023]
- From Bits to Bitcoins: The Rise of Cryptocurrency in Web Hosting - Analytics Insight - November 23rd, 2023 [November 23rd, 2023]
- Role of NFTs in Driving Cryptocurrency Valuations Up - Analytics Insight - November 23rd, 2023 [November 23rd, 2023]
- Increasing Enthusiasm for a Cryptocurrency Predicted to Surge by ... - Analytics Insight - November 23rd, 2023 [November 23rd, 2023]
- Cryptocurrency Showdown: dYdX vs. BorroeFinance Who Will ... - Analytics Insight - November 23rd, 2023 [November 23rd, 2023]
- 1.2m in cryptocurrency seized in major fraud operation - RTE.ie - November 23rd, 2023 [November 23rd, 2023]
- B.C. crypto exchange built on misrepresentations, says BCSC - Vancouver Is Awesome - November 23rd, 2023 [November 23rd, 2023]
- SECP takes notice of surrogate ads by cryptocurrency exchanges ... - Profit by Pakistan Today - November 23rd, 2023 [November 23rd, 2023]
- Stolen hearts and wallets: The rapid rise of cryptocurrency romance scams - CryptoSlate - September 17th, 2023 [September 17th, 2023]
- Title: Unveiling the Future of Cryptocurrency Investments with Crypto ... - Medium - September 17th, 2023 [September 17th, 2023]
- Game of Coins: Who is who in the Cryptocurrency Market in LatAm? - Contxto - September 17th, 2023 [September 17th, 2023]
- Cryptocurrency Bill Passes the First Phase in South Korea - The Coin Republic - September 17th, 2023 [September 17th, 2023]
- Understanding DAI, The Stablecoin Cryptocurrency on the DAI ... - CryptoCoin.News - September 17th, 2023 [September 17th, 2023]
- Sherrod Brown eyes cryptocurrency curbs as industry touts Ohio ... - cleveland.com - September 17th, 2023 [September 17th, 2023]
- G20's mission: Crafting a unified global framework for ... - News Intervention - September 17th, 2023 [September 17th, 2023]
- Tron vs. Bitcoin Spark: The Future of Cryptocurrency Decentralization - CryptoPotato - September 17th, 2023 [September 17th, 2023]
- CRYPTO TRADING | Mastering the Art of Identifying and Exploiting ... - bitcoinke.io - September 17th, 2023 [September 17th, 2023]
- Shiba Memu: Why new meme cryptocurrency has won the hearts of ... - CoinJournal - September 17th, 2023 [September 17th, 2023]
- How cryptocurrency is revolutionizing the gambling industry ... - Cryptopolitan - September 17th, 2023 [September 17th, 2023]
- Ripple says U.S. banks will want to use XRP cryptocurrency after partial victory in SEC fight - CNBC - July 19th, 2023 [July 19th, 2023]
- Anticipating the Bitcoin Halving: Unveiling the Potential Impacts on ... - Medium - July 19th, 2023 [July 19th, 2023]
- How Chainflip is shaking up native cryptocurrency cross-chain swaps - Cointelegraph - July 19th, 2023 [July 19th, 2023]
- Cryptocurrency Crime Plummets by 65% in 2023, Research Shows - Analytics Insight - July 19th, 2023 [July 19th, 2023]
- Most exciting ways to prevent cryptocurrency fraud with cyber security - BusinessCloud - July 19th, 2023 [July 19th, 2023]
- What Is the Role of the SEC in Regulating Cryptocurrency, and What ... - Block Telegraph - July 19th, 2023 [July 19th, 2023]
- Cryptocurrency Price Prediction: ETH, XRP, & SIGN Price Analysis - Euro Weekly News - July 19th, 2023 [July 19th, 2023]
- Standard Charter Expects Bitcoin to Reach $120,000 by End of 2024 - PYMNTS.com - July 11th, 2023 [July 11th, 2023]
- Can banks push Bitcoin to clean up its act? - The Verge - July 11th, 2023 [July 11th, 2023]
- Pulsar and Pyth Network Collaborate to Enhance Cryptocurrency ... - PR Newswire - July 11th, 2023 [July 11th, 2023]
- CryptoWater: The Refreshing Taste of Cryptocurrency - Cryptonews - July 11th, 2023 [July 11th, 2023]
Tags: