Cannabis Banking Legal Regulations 
Innovative Payments Association
AUGUST 29, 2024
With the growing legalization of cannabis across the U.S., However, one major challenge that cannabis businesses face is banking compliance. Due to the federal illegality of cannabis, many banks are hesitant to work with cannabis businesses, making it difficult for these companies to operate smoothly.
PYMNTS
NOVEMBER 1, 2018
The problem with that, according to CEO Keith McCarty of cannabis logistics company WAYV (which recently raised Seed funding ), is that many of the existing tools and processes are broken. In California, where WAYV operates, and where the legal cannabis market is expected to reach a $5.1
PYMNTS
OCTOBER 17, 2018
On October 4, the Massachusetts Cannabis Control Commission (CCC) issued its final four recreational marijuana licenses to businesses, meaning legal marijuana will soon be available for purchase. Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana.
PYMNTS
MAY 14, 2018
The conundrum of cannabis banking in the U.S. is both a headache for legal marijuana businesses and an intriguing case study for the financial services industry. The legal marijuana industry in North America, which handled an estimated $9.7 The legal marijuana industry in North America, which handled an estimated $9.7
PYMNTS
DECEMBER 26, 2018
has rejected the STATES Act, legislation that would allow states to regulate their own cannabis industries without federal intervention. 17 reintroduced the STATES (Strengthening the Tenth Amendment Through Entrusting States) Act, which is designed to protect the interests of states where marijuana use is legal. had on Dec.
PYMNTS
DECEMBER 12, 2018
Cash is king in business — or at least the maxim holds true for some businesses, where legal issues are works in progress and banks shy away from providing services. To that end, the number of banking firms that actively provide services for marijuana firms has grown by 20 percent since the dawn of 2018.
PYMNTS
MARCH 27, 2019
A bill that could bring clarity to payments for legal cannabis purchases in the U.S. The news comes as financial institutions are putting pressure on lawmakers to resolve the situation, given the growing and lucrative nature of legal cannabis business and its inability to move away from cash-based transactions.
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