Robert McVay
by

Nothing much really new in this Fox News article, Colorado’s pot tax revenues could go up in smoke, says lawmaker, but it does a really nice job in laying out the banking issues legal cannabis businesses are facing.  The article explains why the lack of banking for marijuana businesses is causing problems for both the businesses themselves and the states that would like to collect taxes on marijuana revenues. It also provides a concise update on where the federal government (as relayed by Eric Holder) stands on all this.

Holder admits to the problems that will be incurred if banking does not become easier and more prevalent for legal marijuana businesses (be prevalent engaged in recreational or medical cannabis sales) and he seems to ensure that the federal government will be issuing new banking regulations “to deal with that issue [banking for marijuana businesses].”

That would be good for just everybody, so let’s hope so.

One response to “Cannabis Banking Laws That Work. Maybe Soon”

  1. Did you see today’s articles on how the AG will be coming out with banking rules for cannabis any day now. Do you think that is really going to happen and what should we do in the meantime to prepare?

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The Canna Law Blog™ is a forum for discussion about the practical aspects of cannabis law and how it impacts those involved in this growing industry. We will provide insight into how canna businesspeople can use the law to their advantage…

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Please be mindful that possessing, using, distributing and selling marijuana are all federal crimes and that this blog is not intended to give you any legal advice, much less lead you to believe that marijuana is legal under federal law.