Tag Archives: dispensaries

For many years now in states that cannabis sales and use is permitted by law, the biggest threat to many cannabis businesses has not been threat of imprisonment, but rather seizure of their assets.
Since cannabis businesses have been almost primarily cash businesses, as having a bank account is too risky, it is often the case that federal and state agents just do a smash and grab instead of arresting anyone during cannabis dispensary raids.

You can read a few of the articles that we have posted on this site about these types of raids and about Civil Asset Forfeiture.  (see the bottom of the page)

You can also read about Harborside’s recent problems with the IRS over so-called “tax evasion”.

http://www.huffingtonpost.com/2011/10/04/harborside-health-center-tax-bill_n_995139.html

In Washington state (and many other states) you can see how the feds have gained access to dispensaries funding through their legitimate bank accounts, and have frozen their assets.

http://seattletimes.com/html/localnews/2018103547_maribanking30m.html

Now with Washington and mostly Colorado having a legal cannabis industry and shops in Colorado open for business, they are trying without much success to gain access to traditional banking services.

Colorado is expected to have around $600 million USD in cannabis revenue this years alone.

Yet getting access to traditional banking, as well as being able to accept credit and debit card purchases is not yet within their grasp, and when it is, will they have their liquid assets frozen?

http://www.huffingtonpost.com/2013/05/24/pot-dispensary-economy_n_3326412.html

http://www.cnbc.com/id/48764312

http://article.wn.com/view/2013/11/20/Banks_seek_help_with_US_law_when_doing_business_with_pot_sho_f/#/videoc

Back in September 2013 I posted a list of the most common cryptocurrency’s on the market and I gave my input on how to circumvent restrictive banking and government interference by using these currencies.  Since then, I have developed this coin as a solid alternative for the cannabis industry.

http://xcannabis.com/2013/09/department-of-justice-actively-considering-how-to-allow-bank-pot-shop-transactions-citing-public-safety/

Cannabits >  www.cannabits.org

More information about Asset Forfeiture

http://xcannabis.com/?s=raids

http://xcannabis.com/?s=washington+dispensaries

http://xcannabis.com/2010/11/the-government-needs-more-money/

http://xcannabis.com/2010/04/drug-cops-are-revenue-agents/