Elsewhere on the state level, officials are pushing ahead to provide the cannabis industry access to services other companies take for granted. In California, where recreational retail sales began this year, lawmakers are weighing whether to create a special bank for the industry so businesses can make deposits and write checks instead of dealing solely in cash.
"At some point, the business is going to be big enough and significant enough that the public safety and revenue loss issues arising from it being all cash will become so overwhelming that it can’t be ignored,” said Cooper, the attorney with Orrick. "It is a legitimate area of future growth."
This article was provided by Bloomberg News.