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Federal Agencies Provide New Guidance for Hemp Banking

Canna Law Blog

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. Therefore, it’s not yet clear whether banks will service clients engaged in those activities.

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Report: Federal Reserve Bank of Kansas City -“Is the Colorado Marijuana Industry Showing Signs of Maturation?”

Cannabis Law Report

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. Tax Collections in the Marijuana Industry. Department of Agriculture (USDA).

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Rep Heck: We’re late to implement the SAFE Banking Act. Read his press release, the draft bill & full meeting package

Cannabis Law Report

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).

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Article: Recap: Senate Committee Holds Hearing on Cannabis Banking

Cannabis Law Report

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.

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Cannabis Freedom Alliance Publish Their Inaugural Monthly Newsletter

Cannabis Law Report

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. A new report from the Marijuana Policy Project shows that states have collected $7.9

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Schumer Introduces Legislation “Cannabis Administration & Opportunity Act” … Everybody Has An Opinion

Cannabis Law Report

“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.

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ETF Managers Group (ETFMG®) Extends Cannabis and Leveraged ETF Lineup with MJXL

Cannabis Law Report

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.