A proposed law for the 2019 Nevada Legislature could prove to be a remedy for what is seen as one of the biggest issues facing the booming cannabis industry in the Silver State.
The proposal comes from Senate Judiciary Committee, currently chaired by state Sen. Tick Segerblom, D-Las Vegas. It would create a state-chartered bank where privately insured institutions would be licensed to handle money from marijuana businesses.
Most major banks are federally regulated, and because marijuana is illegal federally, most banks aren’t willing to work with marijuana companies for fear of becoming a target of the federal government.
Full Article / Source: www.reviewjournal.com