Why Does The Cannabis industry operate in Cash?

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Cannabis is a unique commodity in that it is still illegal at the federal level, which creates some challenges when it comes to conducting transactions. Because banks are regulated by the federal government, they are not able to provide services to businesses that sell cannabis, even if it is legal at the state level.

As a result, most dispensaries operate on a cash-only basis. While this can be inconvenient for customers, it also helps to keep prices low, as dispensaries are not subject to the same fees as businesses that use credit cards. Plus, cash transactions are much harder to trace than electronic ones, which can be important for customers who wish to remain anonymous.

Overall, the challenges of working with cash are outweighed by the benefits for both dispensaries and their customers. As medicinal and recreational cannabis grows in legalization and popularity, many of the unnecessary regulations will have no choice but to be dealt with!

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