Holder announces bank regulations for cannabis industry

[RainDog]

Last edited Wed Mar 5, 2014, 01:24 PM - Edit history (1)

The Obama administration will soon announce regulations that allow banks to do business with legal marijuana sellers, Attorney General Eric Holder said Thursday.

"You don’t want just huge amounts of cash in these places. They want to be able to use the banking system," Holder said during an appearance at the University of Virginia's Miller Center. "There’s a public safety component to this. Huge amounts of cash—substantial amounts of cash just kind of lying around with no place for it to be appropriately deposited is something that would worry me, just from a law enforcement perspective."

Read more: http://www.politico.com/blogs/under-the-radar/2014/01/holder-feds-to-let-banks-handle-pot-money-181777.html