Washington Proposes Confusing Bitcoin Amendment to Legal Marijuana
It’s a well-established trope in the mainstream financial press and even in much of the modern consciousness that Bitcoin is merely the Cayman Islands of currencies. Criminals use it to hide their money (same as they do cash, but with more efficiency) from the government. While Bitcoin is nearly impossible to actually eradicate itself, the fear of government intervention to prevent merchants from using the currency has long pervaded conversations about Bitcoin.
The marijuana industry in states where the plant has become legal also faces large swaths of legal gray areas in regards to their currency – they are allowed to sell the marijuana, but not to bank any of their earnings, creating a tertiary black market of criminals dedicated to robbing legal marijuana sellers. In lieu of credit cards, dispensaries can accept Bitcoin and other cryptocurrencies, but now two state representatives from Olympia, Washington, aim to cut any such...
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