“Over 100 US financial institutions are working directly with marijuana-related businesses in states that allow for cannabis commerce, according to public remarks made Tuesday by a US Department of Treasury representative. In February, the Treasury Department and the Justice Department issued a pair of memos providing limited guidance to financial institutions that wish to engage in transactions with state-authorized marijuana businesses. In July, members of the US House of Representatives voted in favor of legislation restricting the Treasury Department’s ability to take punitive actions against financial institutions that provide assistance to state-sanctioned, marijuana-businesses.”
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