Admin: Created page with "'''POSaBIT''' is a Seattle financial services company Incorporated in 2015. They created a point-of-sale arrangement for purchasers of Cannabis in Washington (state)|leg..."

2019-03-18T03:48:13Z

Created page with "'''POSaBIT''' is a Seattle financial services company Incorporated in 2015. They created a point-of-sale arrangement for purchasers of Cannabis in Washington (state)|leg..."

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'''POSaBIT''' is a [[Seattle]] financial services company Incorporated in 2015. They created a point-of-sale arrangement for purchasers of [[Cannabis in Washington (state)|legal cannabis in Washington]] based on conversion of US dollars from a customer's [[credit card]] swipe to [[Bitcoin]]. [[Uncle Ike's Pot Shop]] began using the system in March, 2017 for cashfree retail transactions with a point-of-sale tablet resembling a [[Square, Inc.]] payment system, and by June it was reported to be in use at 30 locations. A Washington legislator introduced a bill to the state senate in January, 2017 that would make bitcoin illegal for such transactions. The legislator cited the [[Cole Memorandum]] as placing the state's system in jeopardy if virtual currency were not banned, due to 2014 [[FinCEN]] financial transparency requirements.In June 2017, POSaBIT raised $1.5 million in funding.

==Source==

[http://wikipedia.org/ http://wikipedia.org/]
[[Category:Established in 2015]]
[[Category:Companies]]
[[Category:Bitcoin]]
[[Category:Financial services]]

POSaBIT - Revision history

Admin: Created page with "'''POSaBIT''' is a Seattle financial services company Incorporated in 2015. They created a point-of-sale arrangement for purchasers of Cannabis in Washington (state)|leg..."