I know a couple people involved in the MJ business in CO. My understanding is that the risk is that the feds could seize assets in a federal bank so nobody is w

I know a couple people involved in the MJ business in CO. My understanding is that the risk is that the feds could seize assets in a federal bank so nobody is willing to take the risk of depositing assets that could be seized. Allowing MJ businesses into the banking system would certainly help things, but that would require removing MJ from the federal controlled substances list. I'm also told that notwithstanding the possibility that some bank might take your deposits, the MJ business is effectively cash-only because of the risk of seizure. It's also not as high margin as I initially thought. Honestly, from talking to a few people, it doesn't look like that great a business to be in. For one thing, CO rules require tracking from seed to sold. For any particular item in your inventory, you have to be able to track back to who grew it, who processed it (for oils and extracts), who manufactured the product - the paper trail is extensive and the penalties for messing up are stiff.