Cannabis businesses will now face the challenge of landing marijuana friendly bank accounts. This can be a difficult challenge, but there are some steps that businesses can take today that will boost their odds of getting a marijuana bank account.
And the state has already worked out a solution to the industry’s limited access to banking, he added. “We’re going to start off with a cashless system,” deBin said. “There’s a startup here by some local Arkansas guys called MediPays, and it’s both for consumer and business-to-business. It will involve an app where patients can purchase their medicine through the app, and it also allows for cashless, electronic payments for dispensaries [and] cultivators.
It seems every few months lately we hear about a new bill introduced to address the conflict between federal law and the laws of the now 29 states that have legalized marijuana. Nevertheless, these bills never seem to make it out of committee. Public sentiment, and even sentiment in the highest levels of government, is shifting in favor of solutions for a growing $9 Billion industry.
“The CDC conceded that cannabinoids derived from marijuana were extremely effective in treating chemotherapy-related pain and nausea. It’s also been shown to relieve anxiety and loss of appetite. But the most eye-opening admission the CDC made was that cannabis has actually been shown to kill cancer cells. That’s right. Cannabis can kill cancer cells.”