Marijuana Banking in Rhode Island — Current Rules and Regulations
Rhode Island legalized adult-use cannabis in May 2022, with retail sales commencing in December 2022. The Rhode Island Cannabis Control Commission (CCC) assumed full regulatory authority over the state’s adult-use and medical cannabis programs on May 1, 2025 .
The CCC’s final regulations outline the licensing process for cannabis businesses, including dispensaries, cultivators, processors, and testing laboratories. The state plans to issue up to 24 new retail licenses, with allocations for social equity applicants and worker-owned cooperatives .
Applicants are required to demonstrate site control, comply with local zoning laws, and submit comprehensive business and operational plans. These include security protocols, staffing strategies, inventory tracking systems, and financial disclosures .
At Safe Harbor Financial, we’ve supported cannabis and hemp businesses nationwide since 2015, processing over $25 billion in cannabis-related funds. We provide Rhode Island operators with real banking solutions—checking, lending, payments, and mobile tools—delivered with deep regulatory expertise and a decade of cannabis-specific experience.
Note: For the most current information on Rhode Island’s cannabis regulations, please refer to the Rhode Island Department of Business Regulation – Office of Cannabis Regulation.