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Missouri Bill Would Allow Credit Cards For Marijuana Purchases

Missouri could be seeing green when it comes to the medical and recreational marijuana industries.

Since marijuana is not legalized on the federal level, banks and credit card companies typically won’t allow plastic to pay for marijuana. But the Missouri Legislature passed a bill this year that would get rid of this barrier.

Sen. Steven Roberts, D-St. Louis, said his bill would also allow cannabis shops to keep their cash in bank and money accounts without getting in trouble with the feds.

“We’ve kind of created a complex dichotomy where you have these products being sold legally, but it’s still a federal legal concern,” according to Roberts. “It’s still illegal and there’s a lot of concern. You’ve got these businesses who are accepting cash and they’re not able to kind of share information with the banks and different credit unions.”

Roberts said that his aim is to protect the finances of Missouri’s marijuana businesses because government red tape has them stuck from being able to use banks.

“The lack of banking creates a public safety issue since it’s primarily a cash business, and without banking, there’s no safe way really to secure the cash or transport it. You’d have criminals knowing that these are organizations that have a lot of hard cash on hand. I do see it as a public safety measure as well,” he said.

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