article thumbnail

Jamaican Government Urging Congress to Allow Banks into the Cannabis Industry

WeedAdvisor

If passed, this bipartisan bill would demolish an obstacle that has plagued banks and dispensaries alike. Due to the clashes between laws in legal states and federal laws – which maintain that marijuana is illegal – banks fear federal prosecution if they handle money from otherwise legal dispensaries. Banking Policies. .

Banking 49
article thumbnail

The Bahamas’ Cannabis Legalization Bill for Medical and Religious Use

Veriheal

It has also decriminalized the possession of small quantities of cannabis. The Cannabis Authority consists of nine people, who represent “a faith-based organization, civil society, and one person each from the fields of banking, law, agriculture, scientific research, pharmacy, and medicine.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Weekly Legislative Roundup 1/18/20

NORML

At the state level, a new decriminalization law took effect this week in Hawaii involving the possession of up to three grams of marijuana, as well as a procedure for expungement of past convictions for the same amount. Legislation is pending, A1897, to decriminalize the possession of small amounts of marijuana. NJ resident?

article thumbnail

Is Congress Closer to Reforming the Cannabis Industry’s Access to Financial Services?

Veriheal

CRO Financial Services: The SAFE Banking Act. The SAFE Banking Act was introduced in 2019 and has passed the House seven times, but it still needs to make it to the Senate floor. Throughout the years, the SAFE Banking Act has been revised and is now referred to as the SAFE Banking Plus Act.

Access 108
article thumbnail

Oregon Cannabis Legislative Preview: Producer Moratorium, Equity, State Banking and More

Cannabis Law Report

HB 4016 authorizes the Oregon Liquor and Cannabis Commission (OLCC) and Oregon State Department of Agriculture (ODA) to unilaterally issue moratoriums on the issuance of new marijuana and hemp producer licenses. House Joint Resolution 205 – State Banking. A state bank run by the State of Oregon could provide these financial services.

Banking 52
article thumbnail

Weekly Legislative Roundup 4/5/19

NORML

Governor Michelle Lujan Grisham (D) of New Mexico signed cannabis decriminalization legislation into law. An Arkansas House committee defeated a decriminalization bill this week to send it to study. 333 was unanimously approved by the Agriculture and Natural Resources Appropriations Subcommittee on 4/2. Update : H. FL resident?

article thumbnail

Weekly Legislative Roundup 3/29

NORML

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. It now awaits consideration by the U.S.