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This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. Actions to Take.
New Jersey lawmakers have come to an agreement with Governor Murphy regarding retail marijuana tax rates, settling on charging sales tax by weight as opposed to a specific percentage. Welcome to the latest edition of NORML’s Weekly Legislative Roundup! Your Highness, Carly. Actions to Take. AZ resident?
tetrahydrocannabinol (THC), which was followed in 2021 by the approval of a bill to legalize the cultivation and sale of medical marijuana with more than 0.2% For a first offense, a counseling program can be a substitute for incarceration. How do Greeks generally view marijuana?
In February, we saw the first ever Congressional hearing on cannabis banking. On the federal level, however, the SAFE Banking Act was approved by the House Financial Services Committee (45-15). On the federal level, however, the SAFE Banking Act was approved by the House Financial Services Committee (45-15).
.–(BUSINESS WIRE)– #cannabisbanking –NatureTrak, the leading compliance and risk management solution for financial institutions serving the cannabis industry, today announces its newest customer, Southwest Capital Bank.
But there’s one big question that surrounds the medical marijuana industry in Oklahoma: how do banks and the cannabis industry come together for their mutual benefit? Marijuana is still illegal on a federal level, making it difficult for those in the cannabis industry to use the federal banking system safely.
The alliance showcases the strengths of both organizations: Shield Compliance offers a purpose-built AML/BSA compliance management software solution that enables financial institutions to unlock new revenue and scale cannabis banking operations. Each month, POSaBIT processes millions of dollars of transactions for merchants across the U.S.
In response, some companies have launched their own programs aimed at providing women and people of color with more opportunities to succeed in the space. These efforts range from mentorship programs spanning many months to multimillion-dollar funds that support nonprofits and community organizations. New York Gov. Social Equity Funds.
This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. The establishment of cultivation, processing, and dispensary facilities creates a diverse array of employment opportunities, spanning from agricultural roles to retail positions.
Her father wanted to take the business further than cultivation and turn it into a full seed-to-sale business. Traditional methods weren’t available, like getting a loan from the bank, because the industry was still federally illegal.”. So, she left her job and jumped on board to help her father build the company, she said. . “At
cannabis company Australis called off its reverse merger with Colorado-based CBD wholesale company, Folium Biosciences, this month stating their due diligence found new information that made them want to back-out of the deal. The SEC usually builds their case based on whistleblower witnesses and then formally subpoenas the company.
Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives. Generally, the FDIC will not insure a bank that takes on “existential” risks, which include loans to companies in violation of federal law. Financing Options for Weed Businesses.
will be cleared by the DOA, and the permit holders may move forward with processing or sales. If the second testing would result in a THC value of over 0.3%, the program will issue control orders to the permit holders for destruction of that variety. If you wish to re-publish this story please do so with following accreditation.
These numbers also reflect that Oklahoma has the biggest MMJ program throughout the whole U.S. With more MMJ patients than in any other state, the Oklahoma MMJ industry is booming with sales of more than $350 million through the end of last year. What you need to know about Oklahoma medical marijuana in 2020.
In the latest episode of the Cannacurio Podcast from Cannabiz Media, I speak with Kevin Hart, CEO and Founder of Green Check Verified , a leading provider of cannabis banking solutions and expert advisory services for financial institutions. They were actually on their third point of sale at that point in time. Kevin Hart: Thanks, Ed.
A unionization effort filed for 17 employees at the Curaleaf medical dispensary in Hanover, Mass., went all the way to Washington, D.C., before a final decision on the results of a mail-in election was made earlier this month. The majority of ballots had been challenged, some of which remained sealed in the final vote count.
With respect to CBD, Patagonia said it would be signing a contract with award-winning Colombian growers dubbed the “Buddah Twinz” after its directors led by in-country manager Miguel Serrano personally inspected a unique genetic seedbank, comprising of over 150 strains earlier this month. Bountiful hemp industry progress.
Kathy Hochul announced June 22 the selection of Social Equity Impact Ventures LLC, a minority-led investment team, to sponsor and manage New York’s $200-million Social Equity Cannabis Investment Program that was included in the state’s fiscal 2023 enacted state budget. Cannabis Business Times. JUNE 22, 2022. Albany, NY.
The region has been instrumental in highly regulated industries, such as alcohol and tobacco, and the only federally sanctioned cannabis grow program has operated at the University of Mississippi since the 1960s. Although several Southern states have enacted medical cannabis programs, no states have embraced recreational use of cannabis.
Today marks the second Earth Day for the adult-use cannabis market in Illinois. The industry is in a position of influence to help us all understand what it takes to be mindful about balancing costs for consumers with conservation and sustainability priorities. It seems as though the environment and the economy are always pitted against each other.
The cannabis-focused merchant bank has a blueprint to build a portfolio of 20 companies with $75 million that it has injected via loans. Similarly, Redfund’s incubator program provides marketing initiatives plus exposure to its clients’ brands to help get them global exposure. Quick facts: Redfund Capital Corp. Price: 0.085 CAD.
Members of this type of business include the major cannabis firms and the suppliers of cannabis seeds required for cultivation. But, there is federal legislation in place that says banks will be restricted in offering financial products while financing this industry. . Here are some tips to minimize the risks. . Know your market.
Most combine the names of the two plants used in the breeding program, creating a name that identifies the parent genetics. What was the last cannabis strain you smoked or vaped? From “White Widow” to “Cereal Milk,” some interesting and comical names are attributed to different types of cannabis.
For those of you in the dark about Florida’s Medical Marijuana Program, I will be lighting up the dim corners of Florida: The Nation’s Fastest-Growing Medical Marijuana Market , according to The Miami New Times on May 2, 2019. Lighting Up Florida’s Medical Marijuana PEOPLE: The Front Lines.
For more details about each technology sector included in the report, check out my four-part series: Back Office Sector. Activity Sector. Transactional Sector. Advisory Sector. Press the Play button below to listen to the podcast. ? Follow the Link to Listen to Previous Episodes of the Cannacurio Podcast. Cannacurio Podcast Episode 19 Transcript.
A unionization effort filed for 17 employees at the Curaleaf medical dispensary in Hanover, Mass., went all the way to Washington, D.C., before a final decision on the results of a mail-in election was made earlier this month. The majority of ballots had been challenged, some of which remained sealed in the final vote count.
A unionization effort filed for 17 employees at the Curaleaf medical dispensary in Hanover, Mass., went all the way to Washington, D.C., before a final decision on the results of a mail-in election was made earlier this month. The majority of ballots had been challenged, some of which remained sealed in the final vote count.
A unionization effort filed for 17 employees at the Curaleaf medical dispensary in Hanover, Mass., went all the way to Washington, D.C., before a final decision on the results of a mail-in election was made earlier this month. The majority of ballots had been challenged, some of which remained sealed in the final vote count.
Ringo said he would sell his seeds for as little as $5.). They sat in a circle at a house in the hills a few hours north of San Francisco — where wine country becomes weed country — to discuss the therapeutic potential of CBD, and how to get people to take it seriously. And with this group, finally, it seemed to be coming together.
On July 21, 2021, NFL superstar wide receiver Julio Jones was named as the lead defendant in a 12-count civil fraud, conversion of assets, breach of contract, and breach of fiduciary duty lawsuit filed in Los Angeles Superior Court relating to a cannabis cultivation operation he co-owns. The case is titled Genetixs, LLC v.
On July 21, 2021, NFL superstar wide receiver Julio Jones was named as the lead defendant in a 12-count civil fraud, conversion of assets, breach of contract, and breach of fiduciary duty lawsuit filed in Los Angeles Superior Court relating to a cannabis cultivation operation he co-owns. The case is titled Genetixs, LLC v.
On July 21, 2021, NFL superstar wide receiver Julio Jones was named as the lead defendant in a 12-count civil fraud, conversion of assets, breach of contract, and breach of fiduciary duty lawsuit filed in Los Angeles Superior Court relating to a cannabis cultivation operation he co-owns. The case is titled Genetixs, LLC v.
On July 21, 2021, NFL superstar wide receiver Julio Jones was named as the lead defendant in a 12-count civil fraud, conversion of assets, breach of contract, and breach of fiduciary duty lawsuit filed in Los Angeles Superior Court relating to a cannabis cultivation operation he co-owns. The case is titled Genetixs, LLC v.
On July 21, 2021, NFL superstar wide receiver Julio Jones was named as the lead defendant in a 12-count civil fraud, conversion of assets, breach of contract, and breach of fiduciary duty lawsuit filed in Los Angeles Superior Court relating to a cannabis cultivation operation he co-owns. The case is titled Genetixs, LLC v.
The 14 people who will oversee Alabama’s new medical marijuana program will gather for the first time Thursday. The panel faces several deadlines to set up the rules to launch what will be a fully intrastate program. The Alabama Medical Cannabis Commission, created by legislation that passed in May, will meet at 1 p.m. Kay Ivey, Lt.
In the latest episode of the Cannacurio Podcast from Cannabiz Media, I speak with Tony Repanich, President and Chief Operating Officer of Shield Compliance , a comprehensive compliance management platform for banking cannabis-related businesses. I spent 25 years in community banking and I loved it. Welcome, Tony. Ed Keating: Yeah.
and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 total tetrahydrocannabinol concentration (including tetrahydrocannabinolic acid) of not more than 0.3 Hint: use the seedprogram.)
Legislators seem both wary and weary of cannabis: the 2023 industry scandals implicating public officials are still fairly recent; and, after ten dynamic years and hundreds of adult use cannabis proposals, bills and laws, the program needs to breathe. Most of it will be scaffolding and maintenance. Just a clarification needed.
While these products are no longer illegal (notably a different definition than “legal”), most banks have been hesitant to jump in, citing the lack of framework from the compound’s new agencies of oversight: the USDA and the FDA. As a result, banks often require a website that sells CBD to meet several criteria to satisfy their guidelines.
2 to partner for the production, distribution and sale of cannabis-infused products containing tetrahydrocannabinol — THC. Finger Lakes Hosts Nation’s First Hemp SeedBank. No votes or public hearings are expected and it’s unclear when the committees will make a recommendation to the full council.
Congressional Funding Bill Protects Cannabis Banking and Lets DC Legalize Marijuana Sales . . Federal officials would be blocked from punishing banks for working with marijuana businesses under an annual spending bill released by congressional Democratic leaders on Sunday. Read more. . Read more. . However, within U.S.
They write… As the global COVID-19 pandemic drags on around the world, the damaging effects to mental health are becoming more and more apparent. With a 25% increase in suicide rates in young adults and over 50% of all adults reporting some type of mental health issue (depression, anxiety, stress, etc.), Source: [link].
of Tax and Fee Administration [“CDTFA”] is the administrative agency for business entities that are subject both to Sales Tax, and to Cannabis Cultivation TAX [“CCT”] and Cannabis Excise Tax [“CET”]. The predecessor to CDTFA, the Board of Equalization [“BOE”] was the agency that administered Sales Tax before CCT and CET.
As more countries legalize or decriminalize the cultivation, manufacture, sale, and use of cannabis, companies across a variety of industries are looking for opportunities to capitalize on this emerging market. Selinger cites software, point-of-sale systems, and packaging as areas that are thriving in the state.
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