Bitcoin Processors Reconsider Marijuana Stance After New FinCEN Ruling

The US Financial Crimes observance Network (FinCEN) released brand new guidance on 14th February with regard to financial institutions seeking to provide solutions to marijuana-related businesses, closing a long silence that has triggered confusion among those in both sectors.

FinCEN pointed out that financial services companies can now work with marijuana-related businesses within states where the drug has been legalized for medical or even recreational purposes. This is offered it is “ in a way consistent with their obligations to know their customers and report feasible criminal activity”.

Said the agency:

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