Marijuana related cryptocurrency
A police drone was sent above the industrial unit and detected a significant heat signature - normally a sign of a cannabis farm. An illegal cryptocurrency mine has been uncovered following a raid on what police thought was a cannabis farm. About machines were found at an industrial unit in Sandwell in the West Midlands , with thousands of pounds of electricity thought to have been stolen to keep the operation going. Officers raided the site on 18 May after obtaining a warrant when evidence suggested it was being used to grow cannabis. However, upon entering the unit they discovered the bank of machines, with a bird's nest of cables and heat venting ducts.
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Content:
- Cannabis For … Everything? 23 Industries Seizing The $32B Market Opportunity
- Top 5 Marijuana Cryptocurrencies
- How the Canadian cannabis company Tilray became worth more than American Airlines
- What the cannabis NFT marketplace Crypto Drops means for the cannabis industry
- Top 8 Cryptocurrencies Dealing With... Legal Marijuana
- TOKE.N Launches an Ecosystem with NFT, Marketplace and Metaverse
- Crypto Currencies
Cannabis For … Everything? 23 Industries Seizing The $32B Market Opportunity
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The Canadian cannabis producer Tilray became the first marijuana company to go public on the Nasdaq in July. In turn, Wall Street appears to have caught Tilray fever. The cannabis industry in the US and Canada has grown significantly in recent years. But investing in cannabis remains precarious.
Marijuana in the United States is still classified as a schedule 1 drug federally, on the same level as heroin and LSD. Some states have legalized it for both recreational and medical use, but there are still a lot of details to hammer out, and the fact that the federal government could crack down on a cannabis company at any time makes it a risky investment.
Most cannabis stocks trade on over-the-counter markets, not the big stock exchanges like the Nasdaq and New York Stock Exchange. It is on more solid ground than a number of publicly traded cannabis companies — according to Bloomberg , it has agreements to sell marijuana in Canadian pharmacies and is focused on medicinal marijuana in 12 countries. It could also be the next Pets.
Bocskor, who sits on the boards of and has invested in multiple cannabis industry companies, is bullish on the cannabis industry. Still, he said, everyday investors should probably stay away for now. Our mission has never been more vital than it is in this moment: to empower through understanding. Financial contributions from our readers are a critical part of supporting our resource-intensive work and help us keep our journalism free for all.
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Top 5 Marijuana Cryptocurrencies
They will be offering digital ownership of their strain iconography, as well as gamified cannabis seed cultivation, and distribution. Any variety of artwork is subject to the possibility of plagiarism — especially in the digital era. NFTs ensure that each piece can be uniquely identified by blockchain technology. This digital format tracks both the past and present ownership of each digital item. Take Nyan-Cat. You might know this rainbow streaming cat as a meme video, or even a trap music remix. For the last six years Ghost Drops has been one of the most recognizable brands in the legacy market due to its cheeky and relatable cartoon icons.
How the Canadian cannabis company Tilray became worth more than American Airlines
When states began legalizing marijuana, federally regulated banks were hesitant to open accounts for cannabis industry players for fear of the unknown legal consequences. PotCoin looked to solve this problem by designing a digital currency specifically targeting the industry. The PotCoin Payment API was originally limited in scope, but as the company has matured, PotCoin now offers full access to the API and is anxious to see what developers will build to support access to this upcoming cryptocurrency. Those interested can find more at the PotCoin GitHub page. As with most cryptocurrencies, PotCoin is based on Blockchain technology, and the details of accessing the various PotCoin features can be found within the API docs. API properties include balance, total received, total sent, and unconfirmed balance. Developers can pull transaction data from address, multiple addresses, block, and more. PotCoin is already available on Poloniex, Bittrex, Changelly, and hinted that more exchanges are on the roadmap.
What the cannabis NFT marketplace Crypto Drops means for the cannabis industry
Start Your Tax Planning Today. Marcum LLP was among the first national accounting and advisory firms to establish a practice dedicated to serving the cannabis industry. We offer a broad spectrum of accounting, financial, and consulting services that give investors, owners, and ancillary businesses the insight they need to grow and succeed. Marcum is one of the largest independent accounting and advisory firms in the country, ranked among the top 15 nationally. Since , Marcum has provided accounting and advisory services to thousands of companies in a diverse array of industries, which rely on our nuanced understanding of their businesses and the relevant regulatory and reporting frameworks in which they operate to help them achieve their objectives.
Top 8 Cryptocurrencies Dealing With... Legal Marijuana
The fight to legalize pot is gaining ground. As of June , medical marijuana is legal in 36 states and D. These numbers are expected to grow as more states explore ways to decriminalize the plant. Keep in mind, though, that marijuana is still illegal at the federal level—though there are two bills legalizing it in the House of Representatives—which makes it complicated for anyone conducting financial transactions even in states where pot is legal. The development and use of marijuana-specific virtual currencies have ramped up in order to fill the hole in this market. Cryptocurrencies make it easy for people in the marijuana industry—or simply those who want to buy some weed—to carry out transactions.
TOKE.N Launches an Ecosystem with NFT, Marketplace and Metaverse
A Springfield man has pleaded guilty to distributing cannabis on the dark web and laundering his cryptocurrency proceeds, according to federal prosecutors. The U. Court documents say in , Homeland Security Investigations and the U. Postal Inspection Service began investigating the importing and online distribution of controlled substances on dark web marketplaces and exposed widespread laundering of illicit digital currency proceeds in Oregon and across the country. A dark net vendor, GOLD, received Bitcoin from customers and for a fee would mail or ship cash, according to prosecutors. Records from the dark websites Silk Road and Silk Road 2.
Crypto Currencies
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This article was published more than 4 years ago. Some information may no longer be current. In a corner of the Canadian public market still darkened by the commodity downturn, the mania for all things marijuana and cryptocurrency has ignited a spark. Frenzied trading in pot stocks and blockchain companies has abruptly transformed the TSX Venture Exchange from a market almost wholly dependent on natural resources into a clearinghouse for some of the hottest trends in investing. Concerns about investor euphoria and speculative bubbles notwithstanding, the recent action has brought about a much-needed revival of the exchange and may represent early progress in reducing the small-cap market's vulnerability to commodity prices.
Khurshid Khoja. As organized mobs pillage all-cash retail cannabis stores in a wave of violent robberies across the country , the leadership of U. Senate just refused to do something to stop it. Cryptocurrencies offer legal cannabis businesses immediate alternatives to both an exclusionary banking system and operating all-cash businesses. We need to adopt them now.
Whenever the Internal Revenue Service IRS hosts an event in any business sector, it is usually a sign that the industry holds excellent potential for high revenues. Therefore when the IRS hosted the tax event for both sectors, crypto and cannabis enthusiasts wondered if it was a move towards legalization or federal support. Last Wednesday, the IRS held a forum organized to discuss tax policies for cannabis and cryptocurrency businesses. Some of the issues discussed included permitting tax deductions as marijuana remains illegal at the federal level.
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