Should The Marijuana Be Legalized? Essay

845 Words Apr 30th, 2016 4 Pages
If you live in the United States you are most likely aware that the state of Colorado has legalized growing, selling and consuming Marijuana. But what you might not know is that the marijuana industry has been blocked out of the banking industry. The reason these banks will not take the marijuana industry’s money is because it is still federally illegal to do anything with marijuana and the banks fear being raided or shut down by the DEA or Drug Enforcement Agency due taking “drug money”. This had lead to many problems in the industry from making it very hard to start new shops to being squeezed out of the market by people with bigger bankrolls. But Lamine Zarrad a federal banking regulator might just have a solution to this billion-dollar problem. Lamine Zarrad a federal banking regulator saw a big problem with the banking industry in Colorado and set out to find a solution. “Mr. Zarrad’s start-up, Tokken (pronounced token), is one of several recently created companies looking to solve one of the most vexing problems facing marijuana businesses in Colorado and several other states: the endless flow of dirty, dangerous, hard-to-track cash.” The problem the banks are facing is that for the most part the industry has been all cash, which has made it all but imposable to track any transactions. This worries the banks immensely because they could be laundering money for any major crime organization and have no idea there doing it. Because in a billion dollar industry…

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