Michigan preparing for cash — lots of it — when medical marijuana applications come in
In Michigan, where state regulators are still trying to sort out the rules that will govern the industry, preparations are under way to accept boatloads, bagfuls and briefcases stuffed with cash when the applications for licenses are made available for the first time on Dec. 15.
In today’s technologically advanced society, where financial transactions rarely leave the realm of touch screens, the state and businesspeople hoping to break into the lucrative medical marijuana business are preparing for a quaint relic from the past: cash.
Lots of cash.
The conflict between state and federal law has set up a banking conundrum for the medical pot industry.
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