Banking regulations make life difficult for legal marijuana businesses


Cannabis is now legal in a number of states, but the money it generates is still seen as tainted. The reason for this is a clash between state laws legalizing recreational marijuana and federal laws that label it a controlled substance. As a result, some business owners operating legally under state laws have been fingered as potential money launderers, and many have been kicked out of the banking system altogether. Federal regulators need to remedy the situation.

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