Colorado Marijuana Dispensary Uses Bitcoin to Evade Federal Laws
At least one marijuana dispensary in Colorado has reportedly begun accepting bitcoin. Colorado's decision to legalize cannabis has been filling headlines for weeks, and the hype is still going strong. Investors have been piling up in the marijuana market, ranging from reputable medicinal marijuana companies to highly speculative penny stocks. The general public seems to be very interested indeed - outside some dispensaries the queues of pot lovers are incredibly large, resembling the lines frequently formed in front of Apple Stores following an iPhone launch. However, there are a number of....
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Bitcoin and marijuana, at least in terms of US legal issues, have more in common than you might think. Consider the situation that has developed in the state of Colorado: on 1st January it became the first US state to allow the sale of recreational marijuana. Customers who can identify themselves as aged 21 or older can now walk into a dispensary and buy the drug in regulated quantities. The Colorado vote on legalization was pretty divisive. Source: Wikipedia. An increasingly informed and engaged populace is influencing trends like this one. The web, alongside mobile devices and social....
Washington State and Colorado State have become the first states in America to legalize marijuana at the state level. The beginning of green celebrations in the aforementioned states at the beginning of this month led to a satirical piece claiming 37 dead due to marijuana legalization. Many people have applied for commercial licenses from their states to legally grow and distribute marijuana. Concurrently, many followers of legal marijuana news have noted that the majority of legal marijuana dispensaries, medical in most places, recreational in Washington and Colorado, must pay their state....
The Colorado Department of Revenue released data showing recreational pot sales at $59.2 million in August, with medical marijuana dispensaries reaching $41.4 million for a total of $100.6 million in sales overall. "It means that $100 million is going to licensed, taxpaying businesses, creating jobs and helping to build new schools," Dan Riffle, director of federal policies for the Marijuana Policy Project, told Yahoo News, "Instead of going to cartels and drug dealers - as is the case in the 46 states that don't regulate marijuana." In spite of the sales, marijuana businesses haven't....
Legal marijuana has been having banner year after banner year since various states have legalized the sale and consumption of the plant and its derivatives starting back in 2012 within Colorado and Washington. It should be noted that the process of marijuana’s status as a demonized drug has been slipping for much longer than the past 4 years. The first medical marijuana dispensary in the United States was in California back in 1996. As a business model, it’s hard to beat being a legal seller of pot, whether in a medical capacity or fully legalized manner. It’s common to see business owners....
Silk Road may be dead, but in at least one Washington State city, people can still buy marijuana and related products using bitcoin. Medical marijuana dispensary Kouchlock Productions, which opened on Monday February 3, began accepting bitcoin for its wares this week. The dispensary, based in Spokane, is said to already have sold the drug in several bitcoin transactions. In Washington State, medical dispensaries were legalized in 1998, under initiative 692. This allows dispensaries to sell the drug to patients with terminal or debilitating medical conditions including cancer, HIV-positive....