Is Bitcoin the answer to the marijuana industry’s many issues with the federally regulated banking system?
Spokane, Wash., dispensary Kouchlock Productions sure thinks so. The dispensary is accepting the online-only currency at its Washington state locations because of the Bitcoin’s ease and legality. Currently marijuana businesses can’t legally work with the federally regulated banks, making for a dangerous, cash-only behemoth that is looking for alternatives.
“Anybody can buy a Bitcoin, and anybody can come spend a Bitcoin here,” the shop’s Rachel Franzen told KXLY news. “The transaction happens within 12 seconds.”