Washington Post: “the banking industry, which is federally regulated, is steering clear of anything to do with Colorado’s burgeoning marijuana industry. And that means the whole pot value chain – from grower to retailer to customer – is cash only. In addition to making it harder for pot retailers to grow and manage a legitimate business, a cash-only enterprise is harder for the government to track for tax purposes and an easy target for criminals. Wednesday, Colorado lawmakers . . . . approved a plan to setup a network of uninsured cooperatives that would offer basic banking services to pot businesses.
Colorado Lawmakers OK Special Bank for Marijuana Trade
By On the Net|2014-05-08T18:44:57-07:00May 8th, 2014|Colorado News, Stories & Articles|Comments Off on Colorado Lawmakers OK Special Bank for Marijuana Trade
About the Author: On the Net
The author of this article is Richard Keyt, an Arizona business law attorney who is the creator of this Arizona medical marijuana law website. Connect with Richard at 480-664-7478 or on Google+