Menu
   A Marijuana Tidal Wave?
Posted by Staff on February 20, 2014, 12:08 am

By John Maxfield
Source: USA Today

cannabis USA -- The marijuana industry just got a critical boost in its effort to become a massive and completely legitimate business. On Friday, two federal law-enforcement agencies released coordinated statements clearing the way for banks to take deposits from and offer financial services to marijuana producers and retailers without fear of prosecution for money laundering.

To say that this will ignite a revolution in the still upstart industry would be an egregious understatement.

"It is imperative that this legal industry have access to banking the same as every other business sector," said Mike Elliot, executive director of the Medical Marijuana Industry Group. "To continue doing business on a largely cash basis creates serious safety issues for owners, employees, and customers."

An Industry Awash in Cash

As the legal marijuana industry develops in Colorado and Washington entrepreneurs have run up against a major problem: Banks won't provide them financial services or, for that matter, even accept their deposits, leaving retailers and wholesalers awash in copious amounts cash.

The reason is that marijuana remains an illegal drug under federal law. As a result, banking statutes and regulations make it a crime for financial companies to handle the proceeds of any business engaged in the production, distribution, or sale of the drug. In short, it would be considered money laundering.

While the coordinated guidance issued at the end of last week by the departments of Justice and Treasury doesn't change this, it does send a strong signal to financial institutions that they won't be prosecuted for providing services to the marijuana industry so long as their customers don't run afoul of eight "enforcement priorities" laid out by the Justice Department in the middle of last year.

Snipped

Complete Article: http://drugsense.org/url/1IucDv90

Source: USA Today (US)
Author: John Maxfield
Published: February 18, 2014
Copyright: 2013 USA Today, a division of Gannett Co. Inc.



Bookmark this article at these sites

                   

The comments are owned by the author. We aren't responsible for their content.
Author Thread
soccerjersey
Published: 2014/3/14 3:04  Updated: 2014/3/14 3:04
Just popping in
Joined: 2014/3/14
From:
Comments: 8
 Re: A Marijuana Tidal Wave?
The 2013 Asian football freestyle Championships - Sohu sports







The first Asian football freestyle Championships will be held in June this year in Hanoi. June 22, 2013 16:00 PM, the whole of Asia's best freestyle football players will Bayern Munich Soccer Jersey gather in Hanoi, among them the most skilled player will receive the first Asian football freestyle champion. The winner will receive F3 (fancy Football Federation) world ranking points, will represent Asia in Czech Prague in world football freestyle Open Super series. All players will start from the qualifying trials, they need to have a 90 second display of skills,soccer jerseys wholesale experts will choose 32 strong, and then from the first to thirty-second to catch on the athletic field, they need a header on 3 minutes pass, every 30 seconds to transform a way, in order to move the review the final victory. Football freestyle Championship rules by the South Korean football freestyle legend MR.WOO (formerly known as Yu Xilong), he Player Thailand Soccer Jersey was the first to win in football freestyle championship in the world of Asian players, known as the "king of the world of fancy". He also directly promoted the development of Asian football freestyle. Ai Lu.
django
Published: 2014/4/15 1:15  Updated: 2014/4/15 1:15
Just can't stay away
Joined: 2013/10/25
From:
Comments: 134
 Re: Localização
At the beginning[url=http://www.coachoutletstoreinoa.com/]Coach Outlet Online[/url] of the day, [url=http://www.coachfactoryoutletmsna.com/]Coach Outlet[/url] Pistorius finished
django
Published: 2014/4/15 1:16  Updated: 2014/4/15 1:16
Just can't stay away
Joined: 2013/10/25
From:
Comments: 134
 Re: Localização
At the beginningCoach Outlet Online of the day, Coach Outlet Pistorius finishedCoach Factory Outlet telling
Search
Who's Online
7 user(s) are online (6 user(s) are browsing News)

Members: 0
Guests: 7

more...
New Members
SOYVO
SOYVO
2014/4/25
BEqb
BEqb
2014/4/25
DCasper
DCasper
2014/4/25
JBallou
JBallou
2014/4/25
H46T
H46T
2014/4/25
PTYL
PTYL
2014/4/25
IY44
IY44
2014/4/25
JDonaldso
JDonaldso
2014/4/25
SJRD
SJRD
2014/4/25
MLlewelyn
MLlewelyn
2014/4/25