Uruguay Cannabis Dispensaries Are Cash Only

Last Updated on Mar 30, 2018

Uruguay cannabis dispensaries will soon be open for the adult-use market. The opening of cannabis-specific dispensaries marks a shift from the original legal cannabis regulations in the country that only permitted sales through registered pharmacies. The Panam Post reports that the reason for this shift is that shortly after launching the program local banks received notices from U.S. banks saying that they would refuse to work with banks in Uruguay that provide services to pharmacies that distribute a Schedule 1 substance, i.e. cannabis. Lawmakers in Uruguay took action to solve the issue by creating the legal framework to allow for the creation of cannabis dispensaries. The only caveat is that Uruguay’s cannabis dispensaries can not utilize the banking system and are therefore cash-only, similar to U.S. markets.

Setting up cash-only dispensaries has had its own hurdles as Uruguay’s laws require companies to pay their employees by direct deposit. Cash and checks are not permissible forms of payment in Uruguay for any businesses. Regulators are currently working on an exemption for Uruguay cannabis dispensaries to allow them to pay their employees. Customers will also only be able to pay with cash which in and of itself can be somewhat of a hinderance.

Currently, Uruguay has a total of about 13,500 registered recreational cannabis consumers. It’s also worth noting that this number is consistently increasing. Uruguay has long been a fairly progressive nation and being the first South American country to completely legalize the plant shows their progressive attitudes continue even today.

Since government officials in Uruguay made the decision to  legalize marijuana, the crime rate  in Uruguay has dropped 20%.

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