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662 points JacobHenner | 5 comments | | HN request time: 2.624s | source
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mannyv ◴[] No.40214223[source]
One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up.
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ncr100 ◴[] No.40214302[source]
THEREFORE they will be able to move CASH money out of their stores TO BANKS, resulting in fewer "smash and grab" incidents ... aka, "Hyundai meet storefront of weed shop."

Looking forward to this, silly to see so many Kia "boys" being used for gross violence crimes when regulation changes could lessen it.

> https://www.king5.com/article/news/crime/seattle-pot-shop-cr... for example

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leptons ◴[] No.40217417[source]
First line in your link:

>"The owner says around $15,000 of products and items were stolen from the store."

It doesn't mention anything about cash.

"Smash and grab" in weed shops doesn't usually have much to do with having piles of cash sitting around (though I'm sure that might happen too) - it's the product that thieves want to steal because it's got no serial numbers, it's pretty light-weight and easy to run out with thousands of dollars worth of product, and it's easy to resell.

If there's any cash in the register that's often secondary to grabbing a few pounds of high-quality product. 3 pounds of high quality weed can be valued at $20k. I doubt there's that much in the cash register at the end of the day, and good luck getting into the safe. It's much easier to run out with 3 pounds of weed.

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1. pixl97 ◴[] No.40217981[source]
Cash has to leave the building at some point.
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2. leptons ◴[] No.40219275[source]
There's typically far more monetary value in product in any weed shop than there is cash, likely by an order of magnitude. Many of the purchases are done electronically, so there's not as much cash as you might think in most dispensaries.
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3. ajmurmann ◴[] No.40220537[source]
How are these purchases done electronically if the stores cannot process credit cards? After there dispensaries more commonly using crypto that I don't know about?
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4. michaelt ◴[] No.40220886[source]
Up to the 1990s (and probably still to this day, IDK how electronic payments have impacted this) there was a whole industry dedicated to getting cash off business premises and into banks.

For example, banks often had special "night safes" allowing small business owners to drop off bags of cash outside of branch opening hours. Some businesses would get daily armoured car visits to collect the day's takings. There were even supermarkets with a system of pneumatic tubes allowing cashiers to transfer money to the back room without leaving their stations, so their tills never had enough cash to be worth robbing. You could also get safes with a deposit slot, so employees could drop the takings into the safe, but didn't have the combination needed to get anything out again.

Assuming these all still exist, there are options for keeping cash secure, and getting it off the premises fast.

Of course, by similar logic they could store all the product in a safe out of hours. Jewellery stores manage to store loads of diamonds without getting robbed, after all...

5. gwill ◴[] No.40222592{3}[source]
they charge debit, so it's basically an atm withdrawal at point of sale.