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.