Jean Smith-Gonnell, a leader of Troutman Pepper Locke’s Cannabis Industry practice, was quoted in the May 21, 2025 MJBizDaily article, “Can Cryptocurrencies Solve Cannabis Business Banking Challenges?“

“Most people aren’t doing it because they’re scared,” said cannabis attorney Jean Smith-Gonnell, a partner in the Charlotte, North Carolina, office of the Troutman Pepper Locke law firm.

“It’s a new area people are interested in, but they’re very wary.”

…

“I worry that it won’t bring in a bigger customer base and that putting the infrastructure in place could be costly,” Smith-Gonnell said. “The juice isn’t worth the squeeze, to be honest.”

In a 2023 post on her law firm’s website, Smith-Gonnell and co-author Trey Smith outlined the benefits and risks associated with accepting cryptocurrency for marijuana transactions.

According to Smith-Gonnell’s post, the benefits of cryptocurrencies are:

• • They are readily available to consumers.
  • They make transactions seamless and instant.
  • The networks are impenetrable.

…

“Crypto is still something everyone is watching,” Smith-Gonnell said.

“It’s just going to take time and understanding how it works. There’s just a lack of knowledge.”

Our Cannabis Practice provides advice on issues related to applicable federal and state law. Cannabis remains an illegal controlled substance under federal law.