Most Americans now live in states where marijuana is legally available in some form. But there’s a problem when it comes to banks: Many don’t want anything to do with cannabis money. That forces many businesses to operate only in cash — making them ripe targets for crime.
Most Americans now live in states where marijuana is legally available in some form. But there’s a problem when it comes to banks: Many don’t want anything to do with cannabis money. That forces many businesses to operate only in cash — making them ripe targets for crime.
The proposal still faces a potentially lengthy review process, but if is approved it could have wide-ranging effects. It could make marijuana research easier. It could reduce taxes for legal cannabis businesses.
The proposal would move marijuana from the “Schedule I” group to the less tightly regulated “Schedule III." But technically nothing has actually changed yet.
The US Drug Enforcement Administration, DEA, is moving towards reclassifying marijuana as a less dangerous drug. The Justice Department proposal would recognise the medical uses of cannabis, but wouldn’t legalise it for recreational use. The.