DISTRICT OF COLUMBIA: Aspiring legal marijuana producers and vendors in Colorado and Washington state have a lot riding on a closed-door meeting today held by an obscure Treasury Department group, which faces some interesting constitutional issues about a “growing” industry.
The meeting in Washington, D.C., involves the Bank Secrecy Act Advisory Group, an advisory panel first set up by then Treasury Secretary Lloyd Bentsen in 1994. The panel, known as BSAAG, evaluates issues related to money laundering.
In August, Attorney General Eric Holder announced that the Justice Department wouldn’t criminally prosecute recreational marijuana users and state-approved growers and vendors in Colorado and Washington, after the two states passed legalization referendums in 2012. [Read more…]