1.1 This guide does not apply to financial transactions related to industrial hemp or products that do not contain concentrated or isolated cannabinoids from hemp flower. This standard guide recommends payment provider requirements to conduct financial transactions in jurisdictions with regulated cannabis-related businesses. The referenced authoritative documents and recommended actions are intended to comply with current US federal banking requirements. Future application or application by other jurisdictions shall follow equivalent authoritative documents. These authoritative documents may include but are not limited to statutes, regulations, policies, procedures, and guidance. This guide recommends elements of a framework for jurisdictional oversight of payment providers and recommends functional standards a payment provider should meet.

1.2 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.

1.3 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.