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Tracking Cannabis

Tracking Cannabis

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Despite federal guidance, financial institutions hesitant to bank on cannabis businesses

August 11, 2015
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In every state where it is legal, the marijuana industry remains almost entirely a cash business. Consequently, legitimate marijuana businesses are left without the financial resources and protection that banks provide. READ MORE

Thompson Coburn advises clients on state laws governing the business of cannabis to facilitate compliance with those state laws. Federal laws concerning cannabis currently conflict with state laws in states that have legalized cannabis or possession of cannabis. Although federal enforcement policy may at times defer to these states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state law in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future. In addition to this Cannabis-specific note, readers should review Thompson Coburn’s Conditions of Use / Disclaimers page containing other important information.