Re:Where Pot Entrepreneurs Go When the Banks Say No
by supreme_sublime on Friday January 05, 2018 @09:22AM
(#16078702)
While this is true, they have to be weary of setting taxes too high. There is already a lot of infrastructure set up for the black market and you have to makes sure the taxes aren't so high that the legal market can't compete with the black market.
However, when I think of the weed industry and banking, that's where I think a cryptocurrency has its best value, and will either find a foothold to dominate the financial industry, or at the very least provide the path of dynamic changes/experiments for those areas like this one where we don't want to risk the stability of all markets by "testing things out", but need to discover a path of progress to match the speed of innovation and technology.
I tend to think the latter (the former doesn't seem plausible as the inconveniences outweigh the benefits currently), but I would hope that the government realizes, all else being equal, their views on cannabis as a schedule 1 drug is costing them a ton of money they could be reliably tracking and that business would be happy to pay in taxes to avoid the current nightmare.