Could a Public Cannabis Bank in California Work?

cannabis bank California

Operating a marijuana business is risky. The all-cash environment is inconvenient and a target for criminals and the whole fiasco is the direct result of federal prohibition. Some banks and credit unions provide the industry with limited transactions under FinCEN guidelines, but most will not allow marijuana companies to access any of their services. In desperation, many canna-business owners experiment with crypto currencies and pre-paid options, such as Tommy Chong’s Green Card, but over the last months, a bold new initiative is gaining popularity: A public bank. More and more…

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