Marijuana-friendly States seek meeting with US Attorney General
Posted by Sagar Satapathy on March 31, 2018.California, Oregon and other marijuana-friendly states in the United States have written a letter to U.S. Attorney General Jeff Sessions seeking a meeting that could resolve the conflict between federal and state laws relating to marijuana.
While marijuana remains illegal at the federal level, 29 states have legalized it in the same form. Representatives from California, Oregon, Illinois and Pennsylvania have urged Sessions to ensure clarity for businesses and banks on how federal law enforcement would respond to the legalization of marijuana in states.
The Trump administration recently lifted an Obama-era policy that kept federal authorities from cracking down on the marijuana trade in states where the drug is legal.
In California, banks fear to deal with marijuana money, as they are not clear how federal government would respond to it. The clarity is missing. Even though legal pot sales for adults kicked off in the state on January 1, the industry has been badly hit as the confusion prevails.
The letter made it clear that financial institutions need “some comfort that they will not be prosecuted, or lose access to customer assets, simply for banking this industry.” comments powered by Disqus