CannaLawBlog — Legalizing Cannabis Cash

June 5th, 2019|Categories: HB Risk Notes|Tags: , , , , , , , , , , |

On May 20, 2019 banking associations from all 50 states and 1 territory sent a letter to Senate Banking, Housing, and Urban Affairs Committee urging them to conduct hearings on the merits of providing cannabis-related business access to banking services. CannaLawBlog highlighted the primary concerns of the letter in a recent post: "Again, the primary concern expressed was that current law forces state-legal businesses to operate on a cash basis, which poses a safety risk, complicates enforcement efforts, and could damage local economies." The banking associations wanted to emphasize their neutrality on the legality of cannabis, rather they wanted to show strength as a national community and validate, support, and respect those communities that have voted for legalized recreational marijuana. Read the complete post by HarrisBricken attorney Jihee Ahn on The CannaLawBlog.