Remove Banking Remove DEA Remove Recreational Remove State Laws
article thumbnail

Weekly Cannabis Roundup October 22

Veriheal

Most New Yorkers can now safely indulge in cannabis without fear of being fired, Bank of America is under fire for closing the account of an authorized cannabis research institute, and proposed legislation could help Washington, D.C. finally see recreational cannabis sales. Bank of America—the second-largest bank in the U.S.—has

Banking 104
article thumbnail

Cato Institute “Cannabis Banking: A Clash Between Federal and State Laws”

Cannabis Law Report

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking. That can prove costly.

Banking 52
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

Weed and Worry — The Immigration Consequences of Engaging in the Cannabis Trade

The Blunt Truth

As several states and foreign countries have enacted laws decriminalizing or legalizing marijuana for medicinal or recreational use, a fresh rush of reefer madness has overtaken the business world. practicing law in the U.S. 1200 , The SAFE Banking Act, awaits a vote. work here, or apply for a green card.

DEA 51
article thumbnail

CPA Journal Article: “Providing Services to the Marijuana Industry”

Cannabis Law Report

As of October 21, 33 states and the District of Columbia have allowed the use of medical marijuana. In addition, recreational marijuana is legalized in 10 states and the District of Columbia (see Exhibit 1 for details). Despite legalization in the majority of states, however, federal law (i.e.,

article thumbnail

Weed and Worry — The Immigration Consequences of Engaging in the Cannabis Trade

Cannabis Law Report

As several states and foreign countries have enacted laws decriminalizing or legalizing marijuana for medicinal or recreational use, a fresh rush of reefer madness has overtaken the business world. 1200 , The SAFE Banking Act, awaits a vote. The legal cannabis business is spreading like weeds. 4390 and S.

DEA 40
article thumbnail

Federal Legalization – Then What?

Cannabis Law Report

Let’s begin with the following: STATES Act Becomes Law. The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. See The Murky Part of the STATES Act: Tribal Rights ].

article thumbnail

The Future of Federal Marijuana Laws Remains Dazed and Confusing

NewsMunchies

As of this writing, cannabis remains a prohibited Schedule 1 drug, defined by the DEA as having “no currently accepted medical use and a high potential for abuse.” . Most Americans have access to either medical or adult-use cannabis under state laws. Since 2012, 18 states and Washington, D.C.,

Law 89