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Saturday, August 30, 2014Take Your Marijuana to the BANK
Take Your
Marijuana to the Bank
A federal document shows 105 banks and credit unions are working with marijuana businesses in 23 states. Growers, store owners and processors say they are more vulnerable to thieves if they can't deposit their cash.
Inn February, the Feds assured banks and credit unions they would not be subject to money laundering charges if they worked with marijuana businesses, providing they met certain requirements. Still, the marijuana friendly institutions represent less than 1 percent of all banks and credit unions in the U.S
Washington State Sees Green
Washington state earned more than $1 million in taxes from the first month of legal sales, according to The Washington Times.
The state's liquor control board, which oversees the retail system, called it a healthy start given that only 18 of the 40 licensed stores were operational in July.
Costa Rica & Medical marijuana
A Costa Rican lawmaker wants to make his country the first in Central American to legalize medical marijuana. They believe cannabis can help treat certain medical conditions like cancer and epilepsy. And add that taxing marijuana products at 7 percent could generate $20 million a year for the country's coffers.
Posted By: STS First @ 9:30:47 AM
