20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
The Cannabis Financial Industry Group (CFIG) published a guide to help state-legal cannabis-related businesses (CRBs) access safe banking options.
CFIG is a coalition of financial institutions and associated risk mitigating service providers serving the regulated U.S. cannabis industry. Per the report, it seems that the industry doesn’t have to hold on to tightly on the possibility of SAFER Banking Act becoming the law, as there are already some financial institutions offering cannabis banking service.
“While Congress continues to debate cannabis banking legislation, those operating or supporting cannabis businesses in the 38 states with legal programs need to know that there are financial institutions that will allow them to maintain banking relationships, critical for their operations and personal livelihoods,” CFIG executive director Saphira Galoob stated. “At the same time, CRBs need to understand the requirements financial institutions must have to maintain such relationships and be able to better assess if a potential bank has the compliance mechanisms in place to protect them both. Our objective with this document is to help those in the state-legal cannabis industry better navigate a successful and compliant banking relationship.”
The idea behind the guide is to help CRB’s chose appropriate institutions in order to access safe banking options, while also providing information about required documentation for both on-boarding and continued monitoring for maintaining a banking relationship that is highly complaint. Per the document, it is of great importance working with institutions that have established and compliant programs.
“If done properly, in a highly compliant manner in accordance with Financial Crimes Enforcement Network (FINCEN) guidance and in open cooperation with financial regulators, financial institutions can permissibly serve the state legal cannabis industry without adverse action or enforcement,” the guidance reads. “Given the continued growth of state legal cannabis operations and the importance of CRBs having access to banking services for safety and soundness, this document seeks to help CRBs understand the requirements financial institutions have in place if servicing businesses and individuals involved, either directly or indirectly, in the state legal cannabis industry.”
Photo: Courtesy of Kampus Production via Pexels
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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