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ARTICLE · 16 APRIL 2019

Cadwalader Attorneys Discuss AML Developments Affecting Cannabis, Crypto And Broker-Dealers

Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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Hogan Lovells Cadwalader

Hogan Lovells Cadwalader

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On March 27, 2019, Cadwalader presented a webinar on recent anti-money laundering ("AML") developments affecting cannabis businesses, broker-dealers, blockchain transactions and draft legislation.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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On March 27, 2019, Cadwalader presented a webinar on recent anti-money laundering ("AML") developments affecting cannabis businesses, broker-dealers, blockchain transactions and draft legislation.

The panel featured Jodi L. Avergun (Chair of Cadwalader's White Collar Group), Todd Blanche (Partner in Cadwalader's White Collar Group), Joseph Moreno (Partner in Cadwalader's White Collar Group) and Christian Larson (Associate in Cadwalader's White Collar Group).

Ms. Avergun explained that the Controlled Substances Act makes the "manufacture, distribution and possession" of cannabis with the intent to distribute a felony under federal law. However, she added, over 30 states now allow the prescribing and dispensing of cannabis for medical use and eight states permit the recreational use of cannabis. According to Ms. Avergun, the SAFE Banking Act, if enacted into law, would give comfort to more financial institutions that they would not face enforcement action

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