Legal California weed could lead to public banking

This sort of topic really brings home to me that I have no clue about how the US constitution works.

So a state can declare the sale of a substance legal within its territory even if the Federal government has declared it illegal. Fine. Weird but ok, I can sort of grasp that.

Somehow even though the money generated from those sales is generated from a perfectly legal activity, it still constitutes some sort of offence to accept deposits of that money?

Is that right?

Or is this one of those, ‘we’re worried that the rules might change at some point and then we would be in trouble so it’s just easier for us to ignore this money and hope the industry goes away’ situations?

1 Like