Business is one sector that will benefit the most in the legalization of marijuana in several states in the United States. However, more money comes more danger. To make sure everyone involved in this business are safe, US President Barack Obama has given banks the green light to provide loans for marijuana sellers and record all the transactions they are involved with.

On Friday, as per Washington Post, the Treasury and Justice departments announced in separate press release that "banking industry the green light to finance and do business with legal marijuana sellers, a move that could further legitimize the burgeoning industry."

According to the law, sellers can now secure loans and set up checking and savings accounts from selected bank companies who were cleared to get involved in such business. This deal is said to be a landmark for the banking industry as this will be the first time that any financial institution will work 'legally' with pot ventures.

This decision was a response to the argument of a group of lawmakers who claimed that dealers may get into trouble or get robbed since all the deals are done in cash. To address this issue, the Treasury said banks now must file a "marijuana limited" report, a document that determines if they are following the guidelines set by the government.

"This... guidance should enhance the availability of financial services for, and the financial transparency of, marijuana-related businesses,'' Treasury's Financial Crimes Enforcement Network said in a written statement.

The news has been well received by cannabis sellers.

"This is very good news," said Steve Horwitz, owner of the Ganja Gourmet in Denver.

"The opposition and difficulties to being in this industry are just unimaginable," he said. "Every time you think you're going forward, you go back 100 yards."

"This is a huge victory for our members, our communities and the banks that take this opportunity to serve a thriving new market,'' National Cannabis Industry Association Executive Director Aaron Smith said. "The legal, regulated cannabis industry is legitimate, professional and prospering and our businesses deserve to be treated like those in any other American industry.''