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Interesting, banks are also a hurdle for the Dutch experiment on legal cannabis cultivation. Rather than legal issues, banks refused on ethical grounds. It actually took a court order to force a bank to allow legal cannabis growers to open a bank account.

JJJ
– JJJ ♦

2021-05-29 03:34:06 +00:00
Commented May 29, 2021 at 3:34
@JJJ The odd translation aside, it seems to also be a legal matter in Denmark. The banks aren't sure it's legal, and since it's so new they're worried about money laundering. I wonder if "ethics" is a Dutch legal term. My impression is they wanted the ruling as an official sanction and as protection. The Colorado banks seemed to be in a similar "uh, it just seems too risky".

Owen Reynolds
– Owen Reynolds

2021-05-29 03:40:48 +00:00
Commented May 29, 2021 at 3:40
That private entity trying to open an account was part of the Dutch government experiment to get weed cultivation out of the criminal circuit (before this cultivation was illegal while selling wasn't). It's a closed experiment so all private entities participating in the experiment needed to go through a process set by the government. I think the banks' POV was that they could refuse and let them go to another bank. That doesn't work if all the banks refuse and point to each other.

JJJ
– JJJ ♦

2021-05-29 03:47:16 +00:00
Commented May 29, 2021 at 3:47

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