What To Do About Marijuana’s Mountains Of Cash: This Expert Has A New Approach
Given the well-known banking limitations imposed on cannabis by federal prohibition, cash mountains generated by marijuana sales are becoming an unattended issue. That’s why expert F. Miles Adler of Adler Law Firm and COO of Privateer SCA, Ltd., offers a possible solution for an effective system to handle the billions being generated: third-party certification.
Need For Institutional Design
The argument goes like this: cannabis retailers in legal states have amassed large cash reserves yet it cannot get involved in U.S. banking system, which poses a significant security risk. Large deposits attract criminal activities and, without a proper system, retailers continue to face safety concerns.
Adler points out that creating a regulatory framework across multiple federal agencies will be a lengthy process. Banks …