Mastercard demands US cannabis shops stop accepting debit cards
Mastercard demands US cannabis shops stop accepting debit cards
The issuer says its debit cards must not be used for legal cannabis, due to federal laws in the US.
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If you think about it, do you really want a history of federal crimes recorded on your bank account...?
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What if dozens/hundreds of individuals were prosecuted for possession of a controlled substance because the DEA a) subpoenas the suppliers to get a list of transactions and B) subpoenas the credit card processors to get info on customers?
Because that's the fear
This is extremely unlikely under the current admin, but we may very well have a far more hostile admin in just under 18 months
I don't live in the US... but if at a certain time the federal government decides to go backwards and wants to charge cannabis purchasers with federal crimes then you're ready to be served up on a platter by your bank.
The context here is payment method, not your willingness to support legal cannabis dispensers.
That would be a pretty big list of people at this point. I don't think it would even be possible to charge all of them. It's just unrealistic especially since it's legal in the state. Possible but unlikely.
It could be used to target-prosecute political enemies and "unpopular elements" like police/climate protestors.
Really we just need federal legalization.
You say that, but historically cannabis related charges in particular have been used to target specific parts of the population and individuals. It's the sort of thing that could be exploited nefariously at a convenient moment. Perhaps I'm reading too much in to it.
I disagree. The federal government has shown every willingness to go after all of us. Imagine a 1000 dollar fine for every pot transaction. You can fight it if you want but that would risk criminal charges. So you take the plea deal.
Agree. Which is why if the federal government decides to put a clamp down on cannabis use, they're not going to prosecute thousands of users. Prosecuting three or four card payment processing companies and the banks they do business with would have an icy cold chilling effect and bring the industry's cash flows to a dead stop.
Who are you worried is going to see the record?
You'd make sure to register your company financially in a way that doesn't specify the business right?
Is obfuscating what your officially registered business fundamentally really possible? Not going to pass muster legally.
Don't lots of adult goods companies already do this to avoid it saying "big dildos.com" or the like on people's statements?
Right, but that's for your personal privacy, not your legal protection. If a weed company calls itself Cheshire Garden Supplies instead of Weed Weedersons Weed Emporium then that doesn't stop the fact that you bought stuff from a weed dispensary from being a federal crime if push comes to shove. All I'm saying is that cash seems the naturally more sensible option either way.