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

SpeedWeed

APRIL 2, 2021

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Banking 52

Banking Compliance Compliance Business 52

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Farmers across the country have started growing hemp under the 2014 farm bill while the regulations for the 2018 farm bill are sorted out by the USDA and state departments of agriculture. If you wish to re-publish this story please do so with following accreditation. AUTHOR: Shane Eloe.

Banking 45

Banking Hemp Business Agriculture 45

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. That hemp remains subject to the requirements of the 2014 Farm Bill.

Hemp 59

Hemp Business Banking Agriculture 59

The Blunt Truth

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 78

Hemp Business Compliance Compliance 78

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

AUGUST 10, 2021

Such a development would, of course, be huge– with IRC 280E no longer an issue; cannabis companies would have the unfettered ability to secure banking outside of the 2014 FinCEN Guidelines , which means no more all-cash transactions; they would have the ability to raise institutional capital without the threat of criminal liability; etc etc.

Banking 105

Banking Compliance Compliance Retail 105

Canna Law Blog

JANUARY 31, 2022

Compliance team. I’m still shocked by the number of potential clients who come to us that don’t have a built out compliance team. But to continue to forego staffing out a full-blown compliance squad, or failing to hire a compliance officer or manager at a certain point, is a very large and costly mistake.

Business 85

Business Compliance Compliance Banking 85

Canna Law Blog

JANUARY 10, 2023

After many attempts to get the SAFE Banking Ac t through Congress, I can say that the industry feels a little defeated on the federal front. Dems had two years of control to get the SAFE Banking Act passed and politics basically kept it from going through. Hence, SAFE Banking made a lot of sense. Even if Rep.

Legalization 75

Legalization Banking Seed-To-Sale Compliance 75

Cannabis Law Report

JULY 31, 2019

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. The hearing examined concerns raised by the cannabis industry because of the lack of access to banking infrastructure on the federal level.

Banking 40

Banking Research and Development Safety Legislation 40

SpeedWeed

APRIL 3, 2021

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Banking 52

Banking Legalization Compliance Compliance 52

Cannabis Law Report

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 45

Hemp Business Compliance Compliance 45

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

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

SpeedWeed

APRIL 2, 2021

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

Education 52

Education Banking Hemp Compliance 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). Cryptocurrency transactions are on a public ledger system, which would allow regulators to easily audit companies and individuals for tax compliance.

Banking 70

Banking Cannabis Business Dispensary 70

Canna Law Blog

FEBRUARY 17, 2023

Governmental Regulation and Compliance: Marijuana businesses are subject to a variety of regulations, including licensing requirements, advertising restrictions, and quality control standards. Oregon was one of the first states to legalize marijuana for adult use in 2014.

Banking 80

Banking Legalization Business Cannabis 80

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

MJ Business Attorneys

MAY 23, 2018

And even further, Congress, since 2014 has prevented the Department of Justice from interfering with state medical marijuana laws, essentially creating conflict within the federal government itself. ” Former DEA task force commander Charles Feldmann, marijuana business attorney, is your key to compliance.

Marijuana 100

Marijuana Compliance Compliance DEA 100

Medicinal Genomics

NOVEMBER 5, 2019

The language in the 2014 Farm Bill classified hemp as cannabis with less than 0.3% Another potential headache for farmers is that analytical laboratories must be registered with the DEA in order to perform compliance testing. Furthermore, the uppermost flower is typically the most cannabinoid-rich. Including THCA in Total THC Number.

THC 81

THC Hemp DEA Banking 81

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

Cannabis Chronicles

MARCH 26, 2019

But without the license, he said he couldn’t get a business bank account and retailers didn’t want to deal in cash. Camp said he didn’t try to conceal anything from the Washington State Liquor and Cannabis Board and resolved his banking issues after getting the license. Compliance and cooperation. Hauge,” read the letter.

Marijuana 100

Marijuana Legislation Compliance Compliance 100

SpeedWeed

MAY 14, 2021

The 14-page legislation isn’t as long-winded but puts the removal of cannabis as a controlled substance, banking protection, reform for veterans and mandated NIH studies at the forefront. Jerrold Nadler, D-N.Y., plans to reintroduce the 87-page legislation this Congress, he said during a House Judiciary Subcommittee meeting in March.

Decriminalization 52

Decriminalization Legislation Banking Policy 52

SpeedWeed

MAY 13, 2021

The 14-page legislation isn’t as long-winded but puts the removal of cannabis as a controlled substance, banking protection, reform for veterans and mandated NIH studies at the forefront. Jerrold Nadler, D-N.Y., plans to reintroduce the 87-page legislation this Congress, he said during a House Judiciary Subcommittee meeting in March.

Legislation 52

Legislation Banking Policy Advocacy 52

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. That is changing.

Hemp 69

Hemp Business Cultivation Banking 69

Canna Law Blog

NOVEMBER 12, 2019

Lack of access to banking. If you’re motivated and capitalized enough to secure local approval and a state license, and you can bear the significant tax burdens, you still likely will have difficulty securing a bank account in California.

Banking 76

Banking Cannabis Vaping Business 76

Canna Law Blog

JULY 30, 2019

No real banking options. This means that our rules probably aren’t the strongest to satisfy the 2014 FinCEN guidelines that enable cannabis banking, and this is why we don’t have really robust banking options in California. California’s regulations for its licensees are not super tough.

Collective 57

Collective Banking Cannabis Compliance 57

Cannabis Law Report

JUNE 11, 2019

In Canada, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) applies to a prescribed set of entities, including among others, banks, credit unions, life insurance companies, securities dealers and money services businesses. In the U.S., In the U.S.,

Compliance 40

Compliance Compliance Business Policy 40

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

Cannabis Law Report

OCTOBER 19, 2021

The District legalized marijuana possession and home cultivation under a voter initiative in 2014, but Congress through the imposition of a budget rider has prevented the local government from using its resources to create a licensed and transparent commercial sales program. Medical marijuana is currently legal over three dozen states, D.C.,

Packaging 52

Packaging Legalization Research and Development Programs 52

Canna Law Blog

FEBRUARY 12, 2019

After that memo, entire states built their comprehensive cannabis licensing and taxation systems on those eight enforcement priorities, ensuring that compliance restrictions and barriers to entry were strong enough to support the same. Instead, Sessions put in place the “ Sessions Memo ,” which was short on specifics. Right now, U.S.

Policy 59

Policy Law Marijuana State Laws 59

Cannabis Law Report

AUGUST 8, 2019

investment community as to the boundaries of legal risk and compliance. the Court of Appeal decision R v Rogers [2014] significantly (and somewhat surprisingly) extended the scope of POCA to conduct that occurs entirely outside the U.K., There is very little guidance for U.K. On 18 June 2019, the U.K. Territoriality. Rogers, a U.K.

Legalization 40

Legalization Banking Compliance Compliance 40

Cannabis Law Report

SEPTEMBER 12, 2022

In 2014, under the Agricultural Improvement Act, known as the “2014 Farm Bill,” hemp under.3 We could arrest their leaders, raid their homes, break up their meetings, and vilify them night after night on the evening news. Did we know we were lying about the drugs? Of course we did.

Hemp 52

Hemp CBD Food Extraction 52

Connor & Connor PLLC

AUGUST 30, 2018

The IRS uses a variety of indirect methods of proof including: the bank deposits analysis (most common), net worth analysis, cash-t analysis, and the mark-up method. If a bank account exists is all of the cash deposited into the bank account? multiple deposits totaling over $10,000 but divided up to avoid the $10,000 threshold).

Business 49

Business Marijuana Banking Collective 49

Cannabis Law Report

JUNE 20, 2019

The House Appropriations Committee approved the 2020 Financial Services and General Government bill, which includes a cannabis banking provision that would prohibit financial regulators from spending money to go after financial institutions that do business with lawful cannabis companies. The state taxes medical cannabis sales at 2.9

Seed-To-Sale 40

Seed-To-Sale Hemp Food CBD 40

Cannabis Law Report

JUNE 14, 2019

Zachary Kobrin has served as General Counsel & Chief Compliance Officer for a multinational cannabis company and Florida MMTC and currently advises cannabis and hemp industry clients on legal, regulatory, and business development issues. Antoinette Duncan is the President and CEO of Duncan Life Sciences.

Agriculture 40

Agriculture Marijuana Research and Development Policy 40