Without Banks, Cannabis Companies Are Turning to Crypto

by Emma Newbery 

Here’s one way that cryptocurrencies can help businesses that can’t access traditional financial services.

Medicinal cannabis is now legal in 36 states, and 17 states allow recreational use.

However, banking is difficult for cannabis companies. Banks are nervous about working with cannabis businesses because federal law still prohibits the sale and distribution of marijuana — no matter what local legislators say.

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