Marijuana and cryptocurrency also have a way to go. They share the same "high" and pain.

It is still a taboo in many countries. After the foreign cannabis industry chain was rejected by traditional commercial banks, cryptocurrency was regarded as its deposit advantage. Being neglected is only one of the many sad obstacles facing the field of weeds at this stage.

Although the main uses of marijuana for game entertainment, medical treatment and / or medical treatment have been legalized, marijuana is still considered illegal under most laws and regulations. In fact, the urgent regulatory difficulties have caused many financial enterprises to be indifferent or ignore all the transactions involving cannabis and other products.

Traditional banks refuse weeding

Marijuana dispensaries and companies suffer from the indifference of bank credit card networks and commercial banks, which drives him to leave most of his cash on the spot, which makes students the most common prey for robbers.

With the application of crypto loan coins, marijuana investors can easily push and understand crypto payments, and quickly store crypto loan coins in cold wallets. However, there are some obvious defects in using cryptocurrency instead of cash to carry out such transactions.

First of all, the application of crypto may cause no change, especially for those who have just come into contact with the crypto industry and do not know how to apply digital currency for payment.

More importantly, for trading companies that are determined to apply encryption technology to pot, they may still be shut down by government departments rather than controlled by the federal government.

This is what happened in 2018, when coinbase was forced to close the account of a medical marijuana pharmacy located in Washington, D.C.

Now, fully considering encryption may be the key to deal with the dilemma of marijuana enterprise banks. There are still many difficult problems to solve, including low gross profit rate and outrageously high taxes.

But this may not be perfect plan for dealing with the urgent financial institution problems, but it is considered better than nothing.

The crypto and cannabis industries collaborated for the first time on the ancient Silk Road established by Ross Ulbricht, but were attacked and permanently shut down in 2013.Encryption was used to buy and sell cannabis, which was considered a crime at that time.

The strategic partnership of weed encryption has been transformed into something higher and better

It has been nine years since the FBI closed the ancient Silk Road, and great changes have taken place in the Internet 3 and cannabis fields.

In 2018, the Farm Act allowed marijuana to be matched with cannabis in accordance with the relevant provisions of the controlled substances act.

In the same way, many countries have persuaded to legalize the use of cannabis. In 2021, Colorado won about $423 million in taxes from marijuana market sales, which is higher than the $387 million tax in the previous year.

Marijuana and crypto have long been transformed into higher and better things. Like the crypto marijuana club established by CEO Ryan hunter, this is a popular social media club, allowing marijuana users to use NFTs as VIP cards.

Hunter's corporate vision for crypto cannabis club is to build an applicable community suitable for daily life and virtual interactive experience.

Marijuana and cryptocurrency share the same overall goal and pain, and it seems that it is not easy for financial institutions to quickly change their mentality towards marijuana investors and lend them money to develop their business.

But for cryptocurrency, the regulator has always put it under his crosshairs.