http://www.investopedia.com/news/wa-regulators-considering-bitcoin-ban-marijuana-industry/Washington state has introduced a measure to ban the use of Bitcoin in transactions with its burgeoning legal marijuana industry.
According to GeekWire, a state senator has introduced the bill claiming that the cryptocurrency is not transparent enough for marijuana sales.
Marijuana businesses have flocked to Bitcoin as an alternative to holding on to large sums of cash, since many banks will not service the pot industry as marijuana is still classified as an illegal substance at the federal level, despite being legal for medicinal and recreational use in many states. The ban on Bitcoin would force marijuana entrepreneurs back to square one when it comes to holding on to cash, which brings with it security risks and expenses.
While this is a pretty big clusterfuck considering the circumstances of the legality in Washington state and the actual operation of the entire industry, something like this does make sense to a certain extent and I don't blame them for setting something like this up. Especially in a fledgling drug industry.
Bitcoin is adding another layer of gray legal space on top of something already new and being worked into the existing systems.
