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US pot sellers stash piles of cash as banks refuse them Reuters The US cannabis business has a very particular cash flow problem too much of it. Marijuana can be sold legally in 36 US states and the District of Columbia for medical use and in 15 of them and the district for recreational purposes, but it is still illegal on a federal level, meaning most banks do not service the industry in case they fall afoul of money laundering laws. With the COVID-19 pandemic and increasing legalization driving a surge in cannabis use, the sector’s producers, manufacturers and retailers are awash in cash, adding risk and costs to the most basic business transactions from paying employees and filing taxes to finding somewhere to store their income. ....
(Reuters) â The U.S. cannabis business has a very particular cashflow problem â too much of it. Marijuana can be sold legally in 36 U.S. states and the District of Columbia for medical use and in 15 of them and in D.C. for recreational purposes. But it s still illegal on a federal level, meaning most banks won t service the industry in case they fall afoul of money laundering laws. With the Covid-19 pandemic and increasing legalization driving a surge in cannabis use, the sector s producers, manufacturers and retailers are awash in cash, adding risk and costs to the most basic business transactions from paying employees and filing taxes to finding somewhere to store their income. ....
U.S. pot sellers stash cash as banks leave them high and dry wtaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wtaq.com Daily Mail and Mail on Sunday newspapers.
U.S. pot sellers stash cash as banks leave them high and dry wtvbam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wtvbam.com Daily Mail and Mail on Sunday newspapers.
U.S. pot sellers stash cash as banks leave them high and dry msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.