FinCEN Marijuana Guidance Takes Some Senatorial Heat
April 4, 2014
Looking at two guidance pieces from the Financial Crimes Enforcement Network (FinCEN) you get a quick lesson in how difficult it can be to regulate issues that society—let alone state and federal government—hasn’t reached a consensus on.
The clarity of FinCEN’s March 18, 2013 guidance on virtual currency stands in sharp contrast to the opacity of its release on banking marijuana businesses issued on Feb. 14.
The folks at FinCEN deserve credit for the former. I’m not sure they deserve blame for the latter.