State of the Industry:

Medical marijuana is currently legal in 29 states, while recreational marijuana use is legal in 9 states. Cannabis use remains federally illegal in America.

The biggest barrier to entering the cannabis industry is not start-up capital, not popularity of product—not even marijuana’s legal status.

It’s the problem that no bank wants to touch your profits. A dangerous, messy problem.

Why?

Because while cannabis is legalized, in some form, in over half of the states in our nation, it is still illegal federally.

Because banks are regulated by the federal government, they don’t want to ever be accused of aiding a money laundering operation, which is the most direct path for the federal government to penalize a bank, or confiscate a cannabusiness’s cash.

From the blog:

Read our latest essays on the state of cannabis industry payments