Marijuana banking memos from feds don't solve all problems, advocate says

Ever since the passage of Amendment 64 in November 2012, officials and industry members alike have been concerned about the restrictions related to marijuana businesses and banking services. That's because federal financial regulations essentially treated any transaction from such operations as money laundering. Now, after months of encouragement from Governor John Hickenlooper and others, the Departments of Justice and Treasury have issued joint memos setting out new rules; read them below. However, at least one industry representative isn't wholly satisfied by them.
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Michael Roberts has written for Westword since October 1990, serving stints as music editor and media columnist. He currently covers everything from breaking news and politics to sports and stories that defy categorization.
Contact: Michael Roberts