Dispensaries Confident Protections For Budding Pot Industry Will Stay

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January 11, 2018
Michael McGrory, William Hackney
Chicago Daily Law Bulletin

In the Chicago Daily Law Bulletin's article titled, "Dispensaries Confident Protections For Budding Pot Industry Will Stay," Bill Hackney and Michael McGrory comment on congress's consideration on whether it's necessary to proceed in the renewal of the Rohrabacher-Blumenauer Amendment: an amendment that stops the Department of Justice (DOJ) from using federal dollars to prosecute marijuana-related charges in states where cannabis is legal.

According to Bill, "The federal government considers handling money associated with a marijuana transaction to be money laundering, and the memo issues "benchmarks" that clarified which suspicious activity reports banks should file each time money in a marijuana business' account is manipulated." 

Michael states, "It remains to be seen whether other courts will follow the [9th] Circuit's interpretation of the statutory language. However, I think the reasoning employed by the [9th] Circuit in McIntosh will prove persuasive around the country."

To read the article in full, visit the Chicago Daily Law Bulletin's website here.