Banking the Cannabis Industry

Banking the Cannabis Industry: Takeaways from the California Cannabis Banking Working Group

The countdown to launch the largest new market for recreational sales in the cannabis industry is almost here and the state of California still doesn’t have an answer to the million dollar question – “How do we bank the cannabis industry?”

Without access to banks, this industry struggles with safety – transporting large amounts of cash to pay taxes, fees, licenses, employees, and other normal operating costs, sometimes traveling and transporting the money great distances. There is the continued need for accountability – keeping accurate records of sales and products to satisfy regulators.

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