High Times eliminates payments with cryptocurrencies

High Times in a publication announces the elimination of payment methods using cryptocurrencies of its Initial Public Offering (IPO) which would already be in progress.

This is due to the effort on the part of the company to raise more than 50 million dollars through accredited investors, after the announcement of the launch of the IPO in the month of August.

image source: https://www.cannabiscup.com/

After making an announcement that they would accept Bitcoin for the collection a few days later, the company eliminated this method due to complying with the guidelines of the US Securities and Exchange Commission (SEC), although they continued to accept Bitcoin and Ethereum, but through a third party to process the transactions and make the change to US dollars.

The SEC presented some documents indicating that the IPO should have ended on September 12 but the company decided to extend it until October 31 and so far they have not offered any type of communication in this regard.