It's OK to sell pot in Colorado, but there's still nowhere but the mattress to legally stash the proceeds.
That's the continuing problem for legal marijuana dealers in the state, who are caught between the state's legalization of cannabis and federal laws that still classify it as a controlled substance.
Colorado had been to address the issue, but It would have allowed state-licensed marijuana businesses, which can't legally access the regular banking system, to create a financial co-op, something akin to an uninsured credit union.
Republican state Rep. Kevin Priola, who sponsored an amendment to table the measure, says lawmakers need to "take some time to have this properly vetted." But representatives from both parties had expressed reservations about the legislation.
Time magazine that in February: "The suggesting that banks could offer basic services to marijuana dealers, but financial institutions remain wary. Consensus is growing that it will take an act of Congress to change the situation."
Besides Colorado, , the state of Washington has . Washington faces the same problems concerning the financial end of the business.
As , Colorado made $3.5 million in taxes and fees from legal pot in January, the first month of legal sales.
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