Why Schedule III won’t solve one of cannabis’ biggest problems
For years, the cannabis industry has viewed federal rescheduling as a finish line for operational normalcy. Brands, retailers, and other operators have hoped that moving cannabis to Schedule III would unlock mainstream banking access, open the door to major payment processors like Visa and Mastercard, and reduce the everyday headaches that have defined the industry for over a decade.
That expectation is overly optimistic, especially when it comes to banking and payments.
RELATED: Cannabis investors stay on sidelines despite rescheduling momentum
Rescheduling may help cannabis operators in some ways, particularly around taxes, but it could also create an entirely new layer of complexity for operators, banks, and payment providers who are already navigating one of the most compliance-heavy industries in the country.
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