U.S. Government Releases Memos Giving the OK to Cannabis Banking

The U.S. government issued rules on Friday allowing banks to legally provide financial services to state-licensed cannabis businesses, as long as those businesses are following certain guidelines.cannabismoney

In separate advisories issued by the Justice Department and the Treasury Department, the memos follow comments expressed last month by Attorney General Eric Holder, who noted concerns over the fact that legal cannabis businesses are forced to deal almost exclusively in cash, due to the fact that most banks refuse to work with them.

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