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Wash. Marijuana Entrepreneurs Fear Violence with All-Cash Industry

March 31, 2014  | 

Photo: Flickr via prensa420
Photo: Flickr via prensa420

With marijuana retailers scheduled to open in June, prospective business owners are worried the state industry could be plagued with violent crime, reports The Oregonian.

The banking question is the largest of several uncertainties swirling around implementation of Initiative 502, which passed in 2012 and legalized recreational marijuana in Washington state. Financial institutions are not ready to accept revenue from the sale of a federally illegal drug, meaning legal marijuana businesses in Washington could be left dealing with the difficulties and dangers of a largely cash-run system.

"We've got this entire marketplace that we're building from nothing," said Sen. Bob Hasegawa, D-Seattle. "A billion dollar marketplace out there, and it all has to deal in cash because it's totally un-bankable. That's just a magnet for armed robbery, murder and organized crime."

Tags: Marijuana, Legalizing Drugs, Washington Laws, Washington


Comments (5)

Displaying 1 - 5 of 5

kevcopaz @ 3/31/2014 7:03 PM

Well thats the sort of thing they should have thought about before they broke the law. Too bad, you wanted to play the game now take the hit. I feel nothing for asy of these sates who "step in it" since they felt that they were so very "on the edge". Well when they fall off then too bad. Medical MJ crap was bad enough but now that they wanted it basically legal F em.

Jack Betz @ 3/31/2014 9:10 PM

DO the dance, pay the pipper.

Marshal Fine @ 4/1/2014 5:57 AM

I have personally seen the benefits to (really) ill patients for MedMJ, so I'm not opposed to it.. However.. in a neighboring state that just legalized it, the stores look like 60's Headshops. Full of '60's hippy posters, incense burners, beads,etc. I told them .. if you want it to be medicine.. make it look like medicine .. If I was a patient that got a real prescription and needed it.. I wouldn't go in there.. Looks like people getting high, not better......... FAR OUT, MAN....................sheesh.........

ME @ 4/1/2014 8:39 AM

The issue I have with the medical marijuana is the THC is not the part that has the medical benefit. So why are we allowing marijuana with higher and higher THC to be sold?

Chuck @ 4/1/2014 10:09 AM

Bullshit, marijuana smokers and those around marijuana don't commit crimes. come on all they do is smoke, get high, get mellow and let everyone do their own thing. Ask them, ask anyone that smokes marijuana, ask anyone that wanted it to be legal, that got it to be legal and is still fighting to make it legal. It is just a plant, it is all natural, it is the next best thing to sliced bread, go on ask them. Really, didn't any of these rocket scientists or bullshit bloviating politicians without half a brain and these pot head (doesn't effect / affect your thought process in the least) numb-nuts think that those that prey on the rest of society would prey on them and their big money making scams. Really!!!!!!

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