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News Link • Drug War

Banks Say No to Marijuana Money, Legal or Not

• New York Times
In his second-floor office above a hair salon in north Seattle, Ryan Kunkel is seated on a couch placing $1,000 bricks of cash — dozens of them — in a rumpled brown paper bag. When he finishes, he stashes the money in the trunk of his BMW and sets off on an adrenalized drive downtown, darting through traffic and nervously checking to see if anyone is following him....

2 Comments in Response to

Comment by Ed Price
Entered on:

Again, the banks are attempting to shoot themselves in the foot. There will come a time, and it probably isn't far off, when a person will easily and rapidly convert as much as $100,000 into Bitcoin in a matter of minutes. And then he will be able to convert it back in a matter of minutes, all through private sector operations that have little to do with the banks.

Actually, there are many under-the-table operations that use the banks for making payments. And the banks never realize what is going on. This above-board operation will always be able to find a way to operate without the banks.

Comment by Jerry Alexander
Entered on:

Who cares?

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