Categories: Press Releases

Legal Status of Cryptocurrencies and Medical Marijuana And How They Overlap

Cryptocurrencies, over the past few years – have risen to prominence in the world of finance and technology. This FinTech revolution has now become mainstream, especially with 2017 being a landmark, breakout year for cryptocurrencies. In a year where names such as Ripple and Ethereum boomed by 36,000% and 9,000% respectively, a larger number of people are now aware about cryptocurrencies than ever before. However, this has forced many governments around the world to regulate them.

Cryptocurrency transactions are being associated with illegal trade, money laundering and extortion across the world. ICO scams are a whole other issue. All of these reasons put together have made global governments take strict measures towards cryptocurrency investments and the way they are treated.

Talking about strict steps, marijuana cultivation is another legal aspect where governments have been quite strict in the past. However, over the past couple of years there has been a significant progress towards legalizing marijuana – especially for medical consumption. Research in understanding the benefits of medical marijuana has led to the discovery of benefits of marijuana such as easing the pain of those suffering through chronic pain and benefits in chemotherapy and the fight against cancer.

Over time, 30 US States and Districts have legalized medical marijuana and 7 States and DC have legalized recreational marijuana consumption as well. Australia too, has recently legalized medical marijuana after looking at the benefits that it has to offer. Interestingly, Australia is also quite liberal when it comes to cryptocurrency laws and there are no restrictive regulations in place.

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A combination of medical marijuana and cryptocurrency Australia based KPR Medical Solutions (KPRMS) has now taken it upon themselves to ensure that the country’s medical marijuana needs are fulfilled. Teaming up with Renewable Mining Australia (RMA), KPR Medical Solutions aims at growing medical marijuana which will help them fulfill the needs of Australia, as well as supply medical marijuana at a global level.

The company aims at raising $30 Million in an Initial Coin Offering which will set the ball rolling. Investors in this ICO would get the KPR Coin cryptocurrency token in exchange for Ethereum. Money generated from this Initial Coin Offering (ICO) will allow them to buy the land and purchase equipment for mining Bitcoin. This Bitcoin mining equipment would help the company sustain itself over the years – and VIP investors would be rewarded with Bitcoin rewards, as well as KPR Coin rewards.

The fight for legalization of marijuana as well as cryptocurrencies continues – while governments are relaxing their laws for the former, the laws against the latter are getting stricter with every passing day. However, Australia has found the perfect balance, allowing projects like these to foster. For more details on KPR Medical Solutions and their plan to grow medical marijuana with the help of an ICO fundraiser, head to their official website at: https://www.kprms.com

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

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