Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications. businesses.

Banking 45

Banking Safety Business History 45

SpeedWeed

MARCH 21, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

Banking 52

Banking Compliance Compliance Business 52

Cannabis Law Report

JANUARY 30, 2019

European cannabis firms and investors enviously watching the rapid maturation of the multi-billion dollar North American industry may consider something both geographies have in common; the difficulty of getting banks onside. As of September 2018, Forbes reported just 30 percent of cannabis firms in the US had access to bank accounts.

Banking 77

Banking Hemp Business Cannabis 77

Cannabis Law Report

JULY 31, 2019

Americans’ access to cannabis has also grown as states pass various laws allowing medical and adult use of the plant. With this federal classification, the cannabis industry is isolated from banking and, in many cases, reduced to a cash-only venture. Senate Committee Holds Hearing on Cannabis Banking.

Banking 40

Banking Research and Development Safety Legislation 40

Cannabis Law Report

FEBRUARY 13, 2019

FIRST CONGRESSIONAL HEARING HELD ON CANNABIS BANKING. Today the House Financial Services’ Subcommittee on Consumer Protection and Financial Institutions held the first-ever congressional hearing on the issue of cannabis banking. . From Rep Heck’s Office. Feb 13, 2019 . Press Release. Washington, D.C. Ed Perlmutter (CO-07).

Banking 61

Banking Packaging Safety Business 61

Cannabis Law Report

SEPTEMBER 12, 2021

Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry. Here’s his full presentation. September 2021. NCUA Board Member Rodney E. Board Member Rodney E.

Banking 89

Banking Law Legalization Hemp 89

Canna Law Blog

OCTOBER 31, 2021

280E and banking reform. Banking reform is much more likely to happen before Congress decides to mess with 280E (despite the fact that certain law firms continue to try to pull off Hail Marys in tax court litigation to eliminate or reduce the draconian effect of 280E).

Banking 98

Banking Cannabis Business Legalization 98

Cannabis Law Report

DECEMBER 19, 2019

He’s demanding more studies and much tighter rules around banking and the crop. Chairman Crapo Outlines Concerns with Cannabis Banking Legislation. WASHINGTON – Senate Banking Committee Chairman Mike Crapo (R-Idaho) is inviting public feedback on ways to address public health and money laundering concerns with cannabis banking.

Banking 71

Banking Legalization Safety Research and Development 71

Canna Law Blog

APRIL 21, 2023

Cannabis and crypto For some reason, certain cannabis companies and investors believe that crypto is the way for cannabis companies to solve their inability to access financial institutions (guess they’ve never read the 2014 FinCEN Guidelines ?). Bank fraud Somewhere up there with crypto cannabis frauds is bank fraud.

Banking 67

Banking Cannabis Business Dispensary 67

Veriheal

JUNE 17, 2020

Starting this season, the Farm Service Agency (FSA) will be able to consider applications to grow hemp “beyond the provisions of the 2014 pilot program.” Cultivators who are approved to produce hemp under the 2014 Farm Bill will continue to be eligible for FSA loan servicing assistance. Certain Requirements Must Be Met.

Hemp 52

Hemp Agriculture Banking Access 52

Canna Law Blog

NOVEMBER 13, 2020

Access to Banking. On par with 280E in terms of annoyance for cannabis companies is lack of access to banking. Despite the fact that in 2014, the Financial Crimes Enforcement Network (FinCEN) issued a memo providing guidance for banks that wanted to bank cannabis monies, many banks didn’t jump on board.

Banking 94

Banking Therapy Business Access 94

Cannabis Law Report

JUNE 28, 2021

Dan Roda is co-founder and CEO of Abaca, a digital financial platform connecting cannabis businesses with bank accounts, payment processing, lending, and more. Company mission: Abaca’s mission is to normalize access to modern financial services across the U.S. for cannabis and hemp industries.

Banking 66

Banking Access Hemp Business 66

Cannabis Law Report

JANUARY 10, 2020

Colorado, which opened recreational stores in January 2014, has the longest-running legalized marijuana market in the United States. Marijuana sales boomed in Colorado starting in early 2014 with the opening of the first recreational storefronts. Department of Agriculture (USDA). percent THC. percent in 2018 (Chart 7). pounds in 2017.

Banking 59

Banking Marijuana Collective Recreational 59

Canna Law Blog

FEBRUARY 17, 2023

Oregon was one of the first states to legalize marijuana for adult use in 2014. Banking and Financial Services: Marijuana remains illegal at the federal level, which has created challenges for Oregon’s marijuana businesses in accessing banking and financial services.

Banking 80

Banking Legalization Business Cannabis 80

Cannabis Law Report

JULY 25, 2019

Senate hearing on “ Challenges for Cannabis and Banking.” ” The hearing allowed John to directly address key senators as they consider the SAFE Banking Act, the Senate companion bill to legislation that passed out of committee in the House this spring. This could occur before or after passage of the SAFE Banking Act.

Banking 51

Banking Safety Legislation Cannabis 51

Canna Law Blog

MARCH 9, 2019

Volatile Access to Banking. Lack of access to banking in the industry is the current norm, and it ultimately helps keep cannabis in the shadows and out of reach of full legitimacy and transparency. Fraudsters also help to keep cannabis in the wild, wild west.

Banking 82

Banking Access Cannabis Business 82

Canna Law Blog

MARCH 22, 2019

All expressed concerns regarding testing procedures, interstate transportation of the crop, access to banking, and guidance from the Food and Drug Administration (“FDA”). Several state Departments of Agriculture, including Pennsylvania, Kentucky, and Wisconsin, expressed great concerns regarding testing and access to banking.

Hemp 70

Hemp Supply Chain Agriculture Banking 70

SpeedWeed

MARCH 20, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

Banking 52

Banking Compliance Compliance Cannabis 52

SpeedWeed

MARCH 18, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

Banking 52

Banking Compliance Compliance Business 52

Canna Law Blog

APRIL 27, 2022

The earliest cannabis Web3 cryptocurrency companies date to 2014, and many are still in existence: PotCoin (POT), CannabisCoin (CANN), HempCoin (THC), and DopeCoin (DOPE). This is the world we work in, and it does not look like full-bore legal clarity in either ecosystem will be emerging soon.

Banking 70

Banking Cannabis Business Dispensary 70

Cannabis Law Report

JULY 14, 2021

“Closing the door on broadly supported incremental reforms like the SAFE Banking Act while the Senate seeks compromise on farther-reaching bills hurts the possibilities for consensus and ignores the very real needs of small business operators who have repeatedly said that access to banking services and traditional lending is an existential issue.

Legislation 71

Legislation Banking History Access 71

NORML

APRIL 2, 2019

When elected to Congress in the 1990s, he co-sponsored legislation that would have allowed for access to medical marijuana. While serving in the US House of Representatives, he co-sponsored several bills including; The Veterans Equal Access Act , The Respect State Marijuana Laws Act, The CARERS Act, and The Industrial Hemp Farming Act.

Marijuana 278

Marijuana Legislation Policy Legalization 278

Cannabis Law Report

AUGUST 21, 2019

entitled “ The IRS Is Using Its Big Data and Reminds Us and Its Agents That They Have Access to Records of Large Cash Transactions at Financial Institutions “. The examiner must confirm the bank account on the CTR is the taxpayer’s, or whether the bank account belongs to an entity related to the taxpayer. Steve Toscher, Esq.

Banking 45

Banking Data Access Business 45

SpeedWeed

MARCH 19, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

Banking 52

Banking Compliance Compliance Business 52

The Blunt Truth

FEBRUARY 18, 2020

In Chicago, where medical marijuana has been legal since 2014, and recreational marijuana has been legal for just over a month, people from many facets of the real estate industry — brokers, architects, contractors, real estate owners — came to learn about the new opportunities and pitfalls of the cannabis industry.

Supply Chain 108

Supply Chain Dispensary Banking Business 108

Canna Law Blog

APRIL 14, 2020

FinCEN instituted guidelines to allow for cannabis business to secure bank accounts under certain circumstances even though such activity clearly constitutes money laundering under the Bank Secrecy Act. The SEC allows cannabis ancillary businesses to be traded over the counter.

Business 62

Business Banking Packaging Cannabis 62

Canna Law Blog

SEPTEMBER 21, 2022

Among the problems marijuana businesses face such as lack of access to banking and onerous taxation stemming from IRC 280E is the lack of access to bankruptcy proceedings. The struggles of failing marijuana businesses to wind down and pay creditors in an orderly fashion serve no one. These arguments went nowhere.

Marijuana 66

Marijuana Business Access Decriminalization 66

Canna Law Blog

AUGUST 13, 2019

As a result, we don’t have fantastic access to the financial institutions under the 2014 FinCEN guidelines , so it’s still pretty difficult for cannabis businesses to secure even just bank accounts. 6. Security, Insurance, and Access.

Banking 61

Banking Access Cultivation Cannabis 61

Cannabis Law Report

JULY 2, 2021

Indeed, there is a danger that federal legalization, done incorrectly, could produce outcomes even more adverse than the status quo wherein consumers and patients in states where marijuana is legal are generally able to access the marijuana they need. billion in total tax revenue from marijuana since 2014 and $2.7

Policy 119

Policy Legislation Cannabis Legalization 119

Canna Law Blog

AUGUST 10, 2019

In 2014, O’Rourke kicked off his career in the House with a letter asking President Obama to deschedule, or at least reschedule, cannabis. He also cosponsored bills intended to protect legalization states, help cannabis businesses access banks, and allow students to keep federal aid despite a cannabis possession conviction.

Marijuana 81

Marijuana Advocacy Banking History 81

Canna Law Blog

NOVEMBER 12, 2019

And with too few licenses comes lack of access for consumers and the growth and continued operation of illegal operators. Lack of access to banking. The lack of access to banking forces the classic public safety threat of all-cash, which is also a logistical nightmare for cannabis businesses that must taxes and run payroll.

Banking 76

Banking Cannabis Vaping Business 76

Canna Law Blog

NOVEMBER 20, 2020

That was expected to change for hemp and CBD businesses after the 2014 Farm Bill, and especially after hemp was legalized as a commodity under the 2018 Farm Bill (and removed from the Controlled Substances Act).

Hemp 55

Hemp Business DEA Banking 55

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

Hemp 69

Hemp Business Cultivation Banking 69

The NM Political Report | Medical Cannabis Program

JUNE 14, 2022

He cited a 2014 New Mexico Court of Appeals decision that workers’ compensation is required to compensate injured workers for legal medical cannabis purchases. “As This legislation is an important first step in helping 23,000 uninsured New Mexicans gain access to affordable health insurance,” the governor said.

Patients 40

Patients Banking Cannabis Treatment 40

The Cannigma

DECEMBER 8, 2021

By sufficiently moving the needle on public opinion, NORML aims to legalize the responsible use of marijuana by adults, and subsequently ensure access to products that are safe, convenient, and affordable. The Cannabis Enigma is a co-production of The Cannigma and Americans for Safe Access. Music by Desca. Let’s have a listen.

Access 81

Access Policy Patients Cannabis 81

Cannabis Law Report

JULY 7, 2021

MJXL is designed to seek daily leveraged investment results, before fees and expenses, of two times (2x) or 200% the performance of the Prime Alternative Harvest Index, providing investors access to the global cannabis ecosystem and benefitting directly from widespread medicinal and recreational legalization initiatives. About ETFMG.

Research and Development 94

Research and Development Collective State Laws Concentrates 94

Cannabis Law Report

AUGUST 24, 2019

BANKING: The growth? The Republican-controlled US Senate hosted a hearing on cannabis banking on July 23, 2019. In Who’s Now Lobbying on the SAFE Banking Act? ” BANKING: The setbacks? . ” Returning to the issue of credit unions and cannabis banking.

Banking 49

Banking Marijuana Media Patients 49