Marijuana Banking in New York — Current Rules and Regulations
New York legalized adult-use cannabis in 2021 through the Marihuana Regulation and Taxation Act (MRTA), establishing a comprehensive framework for the cultivation, processing, distribution, and retail sale of cannabis to adults aged 21 and over. The Office of Cannabis Management (OCM) oversees licensing and compliance for both medical and adult-use cannabis businesses, including dispensaries, cultivators, processors, and testing laboratories.
Whether you’re applying for a license, expanding your operations, or transitioning from hemp or medical cannabis, financial compliance is essential. Safe Harbor Financial supports cannabis and hemp operators with secure banking services—checking, lending, payments, and mobile tools—backed by over $25 billion in processed funds and a decade of industry experience.