article thumbnail

Passage Of SAFE Banking Act Gives Cannabis Businesses Access To Banking

PYMNTS

1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. The bill was sponsored by Congressmen Ed Perlmutter of Colorado, Denny Heck of Washington, Steve Stivers of Ohio and Warren Davidson of Ohio, all members of the House Financial Services Committee. House of Representatives passed H.R.

Ohio 235
article thumbnail

Who Should Lead The Digital ID Push?

PYMNTS

Despite all the discussion about verifying digital IDs without creating friction for the user, recent incidents like cybercriminals using AI to impersonate an energy company’s CEO to falsely request money could give security professionals nightmares. There’s no question the world is moving in a digital direction. Department of Commerce.

Wyoming 136
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Deep Dive: Digital ID Developments From Around The World

PYMNTS

Even though biometrics offer notable security advantages, they do come with risks. The following Deep Dive examines the potential use cases for biometrics in national identification systems and the security pitfalls they could encounter. . Colorado, Idaho, Maryland, Wyoming and Washington, D.C., A reported 3.6

Security 159
article thumbnail

It’s Not Easy Being Green: Cannabis Payments

PYMNTS

Voters in Colorado amended their state constitution with Colorado Amendment 64, which essentially legalized the recreational consumption of marijuana for adults over 21. They also pay their staff, pay their suppliers, pay their utility bills and pay their taxes. And then, in 2012, the situation got even more complicated.

Payments 123
article thumbnail

The Dawn Of A Cashless Global Economy?

PYMNTS

There are issues of transaction security, criminal elements, tax evasion, free flow of capital, access to goods and services and the ability to fully participate in the global economy. Now legal in 23 states, with recreational use also legal in Alaska, Colorado, Oregon and Washington, marijuana is very much still a cash-based business.

Taxes 100
article thumbnail

Digital License Plates Vie For Place In Connected Car Ecosystem

PYMNTS

Security and Marketing. Idaho, Colorado, Maryland and Washington, D.C. launched a test in 2016 to secure digital drivers’ licenses, and Wyoming joined the program the following year.”. Besides California, states such as Arizona, Texas and Florida are moving toward use of digital license plates.

Michigan 139
article thumbnail

Fizzle Of The Week: The Cannabis Payments Conundrum

PYMNTS

states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year. billion in taxes from legal cannabis companies last year, an amount of money that is undoubtedly a sizzle for the federal coffers.

Taxes 177