Mastercard ban on cannabis debit-cards

What does this mean? This is clearly just another body blow to a struggling industry. Obviously cannabis operators will likely deal with more cash but I anticipate more financial service providers to push Bitcoin and digital wallets (which has its own challenges and complexities). Unfortunately, there is no great fix to this issue unless the federal government is willing to pass legislation to help the industry. Spoiler alert – it is not willing to pass any helpful legislation. Contact us If you have questions, please contact Steve Levine, or your Husch Blackwell attorney. Our Cannabis team is tracking news in the industry and will continue to share developments that affect our clients’ businesses. Subscribe to our Cannabis Law Now blog for up-to-date information. We’ll keep you connected!