TAMPA, FL – September 30, 2019 – Attorney Richard M. Blau, shareholder and chair of GrayRobinson’s alcohol beverage law, food law, and cannabis industry law practice groups, provides insight in the Miami Herald article "House Democrats Pass First-Ever Standalone Marijuana Bill?” on the amount of marijuana business leaders in need of legal guidance to determine what they can or can’t do under federal law. He explains that his clients range from medical marijuana treatment center license holders to hemp farmers who work at marijuana companies concerned with loosing access to accounts.
“Banking is a really important issue to any legal industry,” Blau said. “To really control your money in a safe, efficient, effective manner, you need to rely on banking services of financial institutions.”
Blau further explains that in states where marijuana is legal, like Florida, and as business continues to grow the federal law is hypocritical. “It creates a solution where an industry that is trying to operate legally can’t use a bank. You have to operate with bags of cash. It’s a train wreck and it’s happening.”
Read the full article here.