MIAMI (CBSMiami) – Even as the culture of cannabis goes mainstream across the country, marijuana-related businesses still face a huge hurdle for legitimacy.
At the federal level, cannabis is still considered an illegal substance and therefore most banks are not allowed to do business with those companies.READ MORE: COVID In Florida: Cases, Positivity Rates, Deaths Rise Amid Coronavirus Surge
JP Chavez is an adviser to the Cannabis Trade Federation, a policy advocacy group.READ MORE: 'Biggest Tragedy Is Preventable Loss Of Life': Memorial Healthcare System Chief Urges Public To Get COVID Vaccine
He stopped by the CBS4 Studio to discuss the SAFE Banking Act.MORE NEWS: Florida Becoming Epicenter Of Coronavirus Outbreak
Watch his interview in the video player above.