Pot dispensaries may be allowed to bank profits

09/11/2013 | Reuters

The U.S. Justice and Treasury Departments are considering whether legal marijuana businesses should be permitted to open bank accounts. A top Justice official said the cash-only basis of marijuana shops created a heightened risk of criminal activity, such as robbery or fraud, which legal banking would reduce. Banks are currently prohibited from handling the proceeds of pot sales under anti-money laundering rules.

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