High Times, a Marijuana Advocacy Organization has confirmed that they are willing to accept cryptocurrencies as a form of payment during their Initial Public Offering.

With this, High Times becomes the first company in the world to accept cryptocurrency for exchanging its stock during IPO. However, people are raising questions on its recent decision. That’s because of its recent backtracking from cryptocurrencies. On August 7, 2018, High Times announced accepting Ethereum (ETH) and Bitcoin(BTC) during the upcoming IPO. However, on August 15, it backtracked from its decision regarding acceptance of Cryptocurrencies.

Investors willing to pay through cryptocurrencies can select the respective option while purchasing stocks from High Times. Jon Cappetta, a representative of High Times, affirmed that crypto transactions are included as a mode of payment while buying stocks. High Times will convert the Bitcoin and Ethereum after receiving them at once.

The backdown of High Times from cryptocurrencies from last time was dramatic. It was due to the concern expressed by SEC over misuse of cryptocurrency and other associated risks. It seems like High Times has managed to convince the Securities and Exchange Commission about the operations. Even with such a volatile nature of Crypto market, it’s quite admirable from the part by High Times regarding their dedication about converting crypto to dollars upon receipt.

As per reports, Fund America will be assisting High Times to convert Crypto coins into US dollars. This remarkable step taken by High Times hopes to encourage other companies to follow the same path.