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The US cannabis business has a very particular cash flow problem – too much of it. Marijuana can be sold legally in 36 US states and the District of Columbia (DC) for medical use and in 15 of them and in DC for recreational purposes. But it is still illegal on a federal level, meaning most banks refuse to service the industry in case they fall afoul of money laundering laws. With the COVID-19 pandemic and increasing legalisation driving a surge in cannabis use, the sector’s producers, manufacturers and retailers are awash in cash, adding risk and costs to the most basic business transacti...

The U.S. cannabis business has a very particular cashflow problem — too much of it.

505 An employee holds a jar of marijuana on sale at the Greenstone Provisions after it became legal in the state to sell recreational marijuana to customers over 21 years old in Ann Arbor, Michigan, US, December 3, 2019. Reuters May 24 The US cannabis (marijuana) business has a very particular cash-flow problem -- too much of it. Marijuana can be sold legally in 36 US states and the District of Columbia (DC) for medical use and in 15 of them and in DC for recreational purposes. But it's still illegal on a federal level, meaning most banks won't service the industry in case they fall afoul of...

‘All this cash flowing around is just a recipe for disaster’

US pot sellers stash piles of cash as banks refuse them Reuters The US cannabis business has a very particular cash flow problem — too much of it. Marijuana can be sold legally in 36 US states and the District of Columbia for medical use and in 15 of them and the district for recreational purposes, but it is still illegal on a federal level, meaning most banks do not service the industry in case they fall afoul of money laundering laws. With the COVID-19 pandemic and increasing legalization driving a surge in cannabis use, the sector’s producers, manufacturers and retailers are awash in c...