General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsInteresting tidbit WRT legalized marijuana and how it is purchased
I heard on the radio this morning that all MJ sales must be conducted in cash, no electronic funds transfers. Doing so would make them subject to laws criminalizing interstate money transfers for the sale of "drugs." Moreover, MJ retailers are not allowed to deposit their funds in any bank that is under federal purview because federal laws still prohibit moving money from MJ sales.
I'm all for giving The Finger to The Man; now I think The Man needs to acknowledge the reality that we have the right to decide our own laws and as such federal law needs to be amended to accommodate lawful transactions.
villager
(26,001 posts)Be interesting to see if state-level legalization forces the creation of a whole alternate banking system!
phantom power
(25,966 posts)Since MJ is still an illegal drug in almost all states, it makes sense that inter-state money transfers involving MJ are still illegal. I really wish we'd just nationally legalize it, already. But I can see the point.
Nuclear Unicorn
(19,497 posts)respect our right to self-governance. They can modify the law from "no money from the sale of illegal drugs..." to be amended to say "only money from legally purchased..." or however those long-winded political types would say it.
rhett o rick
(55,981 posts)intra-state. One of the great powers of the President is his power to decide on how enthusiastically he will prosecute specific crimes.
Nuclear Unicorn
(19,497 posts)It's the sort of practice that could come back to haunt us.
Congress needs to recognize the rights of the people to decide their own laws if those laws are created within the framework of the Constitution / Bill of Rights.
tridim
(45,358 posts)Neither the President nor the AG will make it legal for criminals to launder drug money using Cannabis legalization in Colorado as the loophole. De- or re-scheduling Cannabis is the Fed's first step, not opening Colorado's experiment up to organized crime.
Comrade Grumpy
(13,184 posts)They are already working on it. Justice and Treasury.
uncle ray
(3,157 posts)sorry, don't have time to find the pics now, but apparently at least some stores are processing cards.
Nuclear Unicorn
(19,497 posts)* -- Yes, I know what the real term is but beagles are cuter.
See!
BlueToTheBone
(3,747 posts)in Colorado because of the fear of lots of robberies at closing time.
Nuclear Unicorn
(19,497 posts)(if such a thing existed) if the law were to incentive violent crime for the selling of a legal product.
Comrade Grumpy
(13,184 posts)There have been meeting with Treasury officials as well. The administration understands that banking and financial transactions are part of the legal marijuana business and is working to come up with a fix.
There are also bills afoot in Congress to resolve this.