Digital Currency Headed for Widespread Acceptance, Has Potential as Cure for Banking Concerns among Cannabis Companies
CryptoCurrencyWire Editorial Coverage: The cannabis market in the U.S. and worldwide continues to grow, but that doesn’t mean everyone is open to the idea of legal marijuana. The banking industry is one example, as the Federal Deposit Insurance Corporation (FDIC) has generally been unsupportive of backing cannabis-related investments. Since marijuana hasn’t been legalized at the federal level, most banks are hesitant to have any part of the $6.7 billion marijuana industry. While many industry experts expect this stance to change amid growing support for a bankable marijuana industry, 70 percent of cannabis companies currently operate without access to a corporate…