The cannabis industry has expanded rapidly, with the US market expected to exceed $50 billion by 2028. However, financial rules continue to be a substantial barrier for enterprises functioning in this sector. A cannabis banking lawyer, may help firms secure safe harbor agreements, navigate evolving regulations such as the SAFE Banking Act, and mitigate risks associated with money laundering and federal attention. Many banks are hesitant to provide services owing to federal regulations, putting cannabis companies in a risky situation. With developing compliance frameworks, businesses require strategic legal advice to properly negotiate the convergence of banking and cannabis regulation.
Reliable Legal Solutions for Cannabis Financial Growth
Due to persistent federal limitations under the Controlled Substances Act, even state-licensed firms struggle to use standard banking services. A cannabis banking lawyer helps to bridge the gap between financial institutions and legal cannabis firms. Legal professionals assist organizations and businesses in complying with FinCEN requirements, structuring risk evaluations, and negotiating financial agreements that adhere to regulatory norms. With more than 70% of cannabis businesses still operating on cash, legal competence is critical to maintaining financial stability and operational security.
Secure, Compliant Banking Solutions for Cannabis Businesses
With extensive experience in cannabis banking legislation, the firm provides strategic advice on compliance, banking relationships, and risk reduction, assuring clients’ safety in this evolving business. Cogent Law Group, offers specialist legal solutions to financial institutions and cannabis firms facing regulatory problems.
