Cannabis businesses and banking and payments is a real land mine right now. It is still illegal at the Federal level, and the States all have different laws.

What companies are trying to do is ensure transactions don’t potentially cross into a realm where the Feds or a State where cannabis is still illegal could potentially claim jurisdiction and go after the banks / payment companies.

Some banks and other financial institutions are trying to court these businesses, but they have to do it with carefully vetted business structures and infrastructure to keep them as legally safe as possible.