As the U.S. Postal Service continues to lose money each year, a new report suggests a way to add to its bottom line: offer banklike services, such as a check cashing card that would allow holders to make purchases and pay bills online or even take out small loans. The idea is to provide services that are now unavailable in many communities.
As brick-and-mortar stories quickly adopt digital currency, “Bitcoin, cash or credit?” could become the new mantra of cashiers and baristas everywhere. Once I figure out how to get my hands on some virtual coin, then comes the fun part.
Financial instutitions have been reluctant to open accounts with marijuana businesses for fear of racketeering or money laundering charges. That could change soon.
Credit Luke Runyon / KUNC and Harvest Public Media
The “Cash Only” signs that are ubiquitous in Colorado’s marijuana businesses, medicinal or recreational, could soon be on the way out. Attorney General Eric Holder says the U.S. Department of Justice will soon issue guidelines meant to put skittish financial institutions at ease about dealing in the burgeoning marijuana industry.