Watch and see just how insane banking laws are for legal weed distributors
Federal laws put business owners at risk in states where marijuana is legal, because banks aren’t allowed to handle money they earn from selling the drug.
Sen. Jeff Merkley (D-OR) and Rep. Earl Blumenauer (D-OR) appeared in a video with Tyson Haworth, an owner of Oregon’s Finest and Sofresh Farms, and a stack of $70,000 in cash he earned from selling legal marijuana, reported Huffington Post.
Haworth has to pack up his cash into a bag and drive it an hour away to Salem, so he can pay his taxes.
That’s not just inconvenient — it’s also puts him at risk for robbery, because he’s not allowed to deposit the money into a bank and just send a check for his tax obligation.
Marijuana is a Schedule I controlled substance under federal law, which means it’s against federal law to possess any revenue derived from its production or sale — even in Oregon, where the drug is legal.
Watch the entire video posted online by Oregon’s Finest: