The Federalist Society and the Cato Institute presented a
short film today, directed by Matt Wood: “Marijuana: An Unbanked Industry”,
about 11 minutes (short).
I could not find a YouTube for the film, but it starts at
2:20 on this Facebook video.
The panel discussion that follows will be posted on my “Bills News
Commentary” page today.
The film explains briefly why, in the numerous states in which
medical and now even recreational marijuana is legal, the retail businesses
that sell them must remain all cash.
Federal rules against money laundering scare the banks away from
offering any connection at all to these businesses.
Reason TV has a 4-minute embeddable video from Feb. 2015, "Protecting Marijuana’s
$2.7 Billion Cash Industry when Banks Won’t".
There is a review on the Major Issues Blog July 30, 2017, of
the CNBC film “Marijuana in America: Colorado Pot Rush”.
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