Attorney General Eric Holder announced Thursday that the Obama adiminstration will soon announce regulations that will make it easier for banks to do business with companies that sell legal cannabis.

Appearing at the American Forum at the University of Virginia, Holder said the Administration recognized the tough spot that cannabis dispensary owners were in and were working to rectify the situation.

You don’t want just huge amounts of cash in these places. They want to be able to use the banking system. There’s a public safety component to this. Huge amounts of cash—substantial amounts of cash just kind of lying around with no place for it to be appropriately deposited is something that would worry me, just from a law enforcement perspective.- Attorney General Eric Holder



One of the biggest problems for dispensary operators thus far has been the ability to utilize banking services, forcing most to run their business entirely with cash. In addition to logistical problems, forcing dispensaries to store and transport large sums of cash presents security issues that most business owners don’t ordinarily face. “We’re in the process now of working with our colleagues at the Treasury Department to come up with regulations that will deal with this issue,” Holder said. Holder also said that the new rules would be announced “soon” but should not be seen as an endorsement of cannabis by the federal government.