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U.S. pot sellers stash cash as banks leave them high and dry

The U.S. cannabis business has a very particular cashflow problem too much of it. ....

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US legal marijuana sellers stash cash as banks leave them high and dry

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An employee holds a jar of marijuana on sale at the Greenstone Provisions after it became legal in the state to sell recreational marijuana to customers over 21 years old in Ann Arbor, Michigan, US, December 3, 2019. Reuters
May 24
The US cannabis (marijuana) 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 (DC) for medical use and in 15 of them and in DC 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. ....

New York , United States , District Of Columbia , New Mexico , Los Angeles , Rachel Pross , Gilbert Milam Jr , Chris Driessen , Bryan Hale , George Floyd , Senate Majority Leader Chuck Schumer , Operational Security Solutions , Us Navy , Maps Credit Union , Wellness Inc , Worldwide Inc , Frontier Research , Smoke Wallin , Vertical Wellness , New Frontier , West Coast , Cookies Melrose , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , மாவட்டம் ஆஃப் கொலம்பியா , புதியது மெக்ஸிகோ ,

US cannabis sellers stash cash as banks refuse to help

‘All this cash flowing around is just a recipe for disaster’ ....

United States , District Of Columbia , Bryan Hale , Operational Security Solutions , Us Navy , Wellness Inc , Smoke Wallin , Vertical Wellness , ஒன்றுபட்டது மாநிலங்களில் , மாவட்டம் ஆஃப் கொலம்பியா , ரியான் ஹேல் , எங்களுக்கு கடற்படை , ஆரோக்கியம் இன்க் , புகை வாலின் , செங்குத்து ஆரோக்கியம் ,

US pot sellers stash piles of cash as banks refuse them

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. ....

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US pot sellers stash cash as banks leave them high and dry

(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. ....

New York , United States , District Of Columbia , New Mexico , Los Angeles , Rachel Pross , Gilbert Milam Jr , Chris Driessen , Bryan Hale , George Floyd , Senate Majority Leader Chuck Schumer , Operational Security Solutions , Maps Credit Union , Wellness Inc , Us Navy , Worldwide Inc , Frontier Research , Smoke Wallin , Vertical Wellness , New Frontier , West Coast , Cookies Melrose , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , மாவட்டம் ஆஃப் கொலம்பியா , புதியது மெக்ஸிகோ ,