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WASHINGTON, DC 20510

January 18, 2018

The Honorable Kenneth A. Blanco
Director

Financial Crimes Enforcement Network
US. Department of the Treasury

1500 Avenue, NW
Washington, DC. 20220

Director Blanco,

We are writing to express our continuing support for the Financial Crimes Enforcement Network
guidance from 2014 on the Bank Secrecy Act (BSA) Expectations Regarding
Marijuana-Related Businesses. This guidance was developed and issued in conjunction with the
Department of Justice and has provided much needed stability to a growing market.

We urge to preserve this guidance to continue to support banking infrastructure and
access to ?nancial institutions for businesses that are operating in accordance with state and local
law and abiding by 8 other stated factors in your guidance. stated priorities have
allowed such businesses to conduct commerce more safely through ?nancial institutions, which
reduces the use of all cash, improves public safety, and reduces fraud. Leaving your guidance
unchanged will continue to encourage small companies to make investments by freeing up
access to capital. It will also further provide for regulation and oversight through suspicious
activity reports.

Rescinding this guidance would inject uncertainty in the ?nancial markets. Attempts to disrupt
this market are dangerous and imprudent. We see the removal of protections on ?nancial
institutions, which are operating in accordance with state laws, as a poor alternative to creating
meaning?il policy though the political process. This guidance must remain intact because the
risks involved in removing it are too great.

We believe any move to eliminate, revoke, or change the 2014 guidance is unwise. We ask you
stay the current course, a proven method that both encourages safe commerce and discourages
illegitimate markets.

     

 

 

 

 

 

 

 

 

 

Sincerely,

Jeffrey A. erkley Lisa Murkowski
United States Senator . United States Senator

rian Schatz Rand Paul, M.D.
United States Senator United States Senator

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Kirsten Gillibrand Elizabeth arren
United States Senator United Sta 3 Senator




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Michael F. Bennet Catherine to
United States Senator United States Senator
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Ron WydenuA??lm Patty ?ll-ray 0

United States Senator . United States Senator

  

Bernard Sanders
United States Senator

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Maria Cantwell - Edward J. Markey 0
United States Senator United States Senator

 

  

. A. Booker
united States Senator

 

 

 

?3953121 D. Harris
nited States Senator