Link From Bloomberg Bitcoin match made in heaven — Once a customer decides on which marijuana product to buy, an employee asks if he or she would like to use cash or digital currency, Lai said. If the buyer prefers the latter, the Trove employee explains that the customer can use a credit card to buy bitcoin through a POSaBIT kiosk, with a $2 transaction fee tacked on.The customer, who would now own bitcoin equal to the value of the purchase, can then redeem the currency in the store. Or the buyer can keep their bitcoin and use it anywhere else that accepts the currency. If the customer finishes the purchase in the store, POSaBIT, which pockets the transaction fee, then sends the value in U.S. dollars to Trove’s bank account.
Madison.com — However, as reported last week by Bloomberg Technology, a solution to the marijuana industry’s banking woes could very well be within reach. Within Washington State, digital cryptocurrency bitcoin is being used as an intermediary that’s allowing consumers with bank-issued debit and credit cards to legally purchase marijuana in dispensaries.
KRNV News – Getting a medical marijuan card in Reno
Cheers and long lines of tourists and locals alike greeted the first day of sales of recreational marijuana on Saturday as Nevada became the fifth state with stores selling pot to the public in a market that is expected to outpace all others in the U.S. thanks to the millions of visitors who flock to Las Vegas each year.
A federal appeals court has breathed life into a plan hatched in Colorado to open a credit union for the marijuana industry. A three-judge panel for the 10th U.S. Circuit Court of Appeals on Tuesday vacated a district court ruling that nixed Denver-based Fourth Corner Credit Union’s bid to receive a master account with the Federal Reserve Bank of Kansas City.
