, the biggest player in the fledgling marijuana sector. Pot shops in that country began selling legal weed in October.
The American federal government still considers marijuana a Schedule I controlled substance, alongside heroin and other drugs, but it is legal for recreational use in 10 states and Washington, D.C., and for medical use in 33 states. The industry is a cash-only business because federally-regulated banks aren't allowed to take deposits from dispensaries.
Brinks does not participate in the marijuana business in the United States, even where the drug has been legalized in different forms, Pertz told Cramer. He said it's important that the industry is served "for safety and regulatory and other reasons," while giving a stamp of approval to the SAFE Banking ActThe bill, if signed into law, would give the cannabis industry that needed access to banks.
"What they'll do is not change the federal law but make those states that have made it legal" free from federal penalty, Pertz said. "And then that will open it up for federally charted banks as well as us to be able to help serve."As more and more states, most recently Illinois, are on the brink of legalizing weed, Brinks could have a head start through its partnership with Canopy.
Federal govt needs to legalize it once and for all and tax it to help pay for nationwide infrastructure repairs.
Eventually it is going to be a tort playground.
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