Russell Rosendal (Image courtesy of Salal Credit Union)
(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)
The federal government’s proposed rescheduling of marijuana is a positive and necessary step forward, to be sure.
And while rescheduling would alleviate certain burdens associated with operating in the cannabis industry, it would do little to address banking difficulties that have long stifled and frustrated this sector.
Despite significant strides in marijuana legalization and regulatory clarity, most financial institutions will continue to be wary of the cannabis industry.
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Short of full federal legalization, legislative reform that specifically addresses cannabis banking is the only way to ensure that state-regulated marijuana businesses can access the same financial services as other legitimate
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