CLICKHEREx Posted February 17, 2014 http://www.bluelight.org/vb/threads/713114-Feds-won’t-enforce-money-laundering-laws-against-banks-doing-business-with-pot-stores slimvictor View Profile View Forum Posts View Blog Entries View Articles ModeratorDrugs in the Media--------------------------------------------------------------------------------Join Date Dec 2008Location "Darkness cannot be dissipated with more darkness. More darkness will make darkness thicker. Only light can dissipate darkness. Violence and hatred cannot be removed with violence and hatred." - Thich Nhat HanhPosts 5,996 15-02-2014 02:05 Marking another milestone for the legal marijuana industry, the Obama administration on Friday said it has advised U.S. attorneys in states where the sale of marijuana is legal not to prosecute banks that allow pot stores to open accounts and accept credit-card payments. The policy will apply to Washington state and Colorado, where voters legalized the recreational use of marijuana in 2012, as well as the 20 states and the District of Columbia that allow marijuana to be sold for medical reasons. Current federal law prohibits banks from accepting money linked to marijuana transactions because the drug is banned under the federal Controlled Substances Act. The move was hailed as a step forward by proponents of marijuana sales, but banking organizations warned that accepting the deposits was still illegal and said it was unlikely to widely change banks’ business practices. “Legitimate marijuana businesses will no longer be forced to operate as cash-only businesses, a circumstance which has made them highly vulnerable to robbery and other criminal activities,” said Democratic Rep. Denny Heck of Washington state, who had lobbied hard for change in federal practices after his state legalized the recreational use of marijuana. Sales are expected to begin there this spring; they began in Colorado Jan. 1. Frank Keating, chief executive officer of the American Bankers Association, was more cautious on the likely effect of the policy change. “As it stands, possession or distribution of marijuana violates federal law, and banks that provide support for those activities face the risk of prosecution and assorted sanctions,” he said. cont athttp://www.miamiherald.com/2014/02/1...aundering.html Share this post Link to post Share on other sites
Halcyon Daze Posted February 17, 2014 You don't say... 4 Share this post Link to post Share on other sites
Foo Posted February 17, 2014 Mmmm If your posting in this sub-forum you should check at least the top 10 posts to see if someone else already posted your topic. That is, unless your a spam bot. ... just saying 3 Share this post Link to post Share on other sites
