Financial giant Mastercard has issued a directive to financial institutions to disallow the use of their debit cards for purchasing marijuana.
The decision to ban such transactions is driven by concerns over legal implications under federal law. Despite being legalized at the state level in certain regions like Colorado and Oregon, marijuana remains illegal nationwide.
A spokesperson from Mastercard emphasized the company’s position, stating, “The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems.” This move aligns with the federal government’s stance on marijuana, which remains classified as a controlled substance, leading to regulatory restrictions on financial transactions related to the drug.
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