so banks are boycotting the pot business in Colorado so it is cash or bitcoin only, good news for both pot and bitcoin, although I expect soon enough some smaller regional banks will start to do business with the pot shop owners
They're either just scared or are not allowed to take money from these kind of businesses as it's still illegal federally.
Pretty confident it's the latter. Banks are tied to the Fed. Gov, and MMJ is a State law. Banks will never break a federal law...........
banks can't break a federal law, because even if they do, they didn't. and worst case scenario is that they just change the law, as they seemingly run the country.
So no banks at all in the US can have anything to do with Cannabis dispensaries?
No federal banks without violating federal law. State banks probably could circumvent but they would be exposing themselves to a lot of risk. Banks are required to monitor customers for illicit activity and report them if they are suspicious. Drug money is drug money, we are in the first week of the end of prohibition so it will be awhile before the guidelines are clarified for what the banks can do or not do. Realize by all appearances these days the banks are presumed above the law but at the ground level they have to adhere to a lot of regs. In time they will take the money, but only after there is some precedence for how the Feds are going to play ball.
and it is perfectly legal 