I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
There are already tons of shops in America that accept crypto as payment.
http://www.bitcoinvalues.net/who-accepts-bitcoins-payment-companies-stores-take-bitcoins.htmlCall me paranoid, but your posts are sounding a little bit negative toward cannabiscoin lately.
Am I wrong here?
I agree, it will be the exact same thing as bitcoin. So this should be the same way for Cann. Why would cann be a money transmitter when bitcoin is not, unless your taking about the exchanges that have fiat to btc. I really dont see a problem here.
Anyone that operates a Bitcoin ATM is supposed to follow AML/KYC guidelines and should register as a money transmitter or they could end up in hot water.
Let me ask you a question, why do you think that Coinbase needs your Photo ID and other personal information to make an account?