The booming cannabis industry has a serious cash problem — and cryptocurrency isn’t the solution
The rapidly-growing cannabis industry has a cash problem, but dispensary owners around the country say cryptocurrency isn’t a miracle solution.
Most banks won’t take cannabis cash, so dispensaries in states where the sale of cannabis is legal have been forced to explore alternative payment solutions as they are locked out of even the most basic tools of doing business, like opening a checking account and accepting credit cards as payment.
That’s a huge problem for an industry that’s expected to hit $10 billion in sales this year and $24.5 billion by 2021.
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