OVRSZD,
I was under the belief that a POT business was prohibited from using a federally regulated bank in pursuit of there business transactions because those funds could be seized by the IRS or DEA. Tantamount to money laundering. Proceeds from an endeavor labeled as illegal by the Federal Government, subject to confiscation. As you noted, physical assets such as property derived from illicit activity, the same consequence applies. Is this true for a pot based growing and retail sales business? Is it the same for medically grown POT?. In NY, several businesses have invested mega bucks in growing facilities, but the restriction is their product may only be utilized for medical purposes. It can not be sold in a form that can be ingested through smoking, only pill, capsule or liquid derivatives.