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Federal Shifts and Future Outlook: U.S. Cannabis Industry Updates

MaxQ Cannabis

Federal Rescheduling and Banking Access The new administration has expressed support for reclassifying Cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act. The new administration’s approach to Cannabis policy presents a complex landscape for the U.S.

Banking 66
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Illinois State Treasurer issues RFP for cannabis tax banking services

Illinois News Joint

The Office of the Illinois State Treasurer (Treasurer) this week issued a Request for Proposals (RFP) for banking services for cash processing of medical and recreational cannabis tax payments. The Contractor must be authorized to do business in Illinois as an Illinois bank or a national bank with a presence in Illinois.

Banking 62
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The Rise of Anti-Legalization Efforts

Veriheal

.” SAM is a prominent opponent of legalization by individual states, as well as federal efforts to legalize and provide access. The Future of Anti-Legalization Efforts While the winds of change have ushered in a new era of cannabis accessibility and acceptance, theyre also gathering strong headwinds in the opposite direction.

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How Inflation is Affecting Cannabis: Prices, Closures, and the Job Market

Veriheal

Another factor at play for cannabis consumers is that dispensaries are cash-only businesses due to current federal banking laws , eliminating the option to use credit to make their purchases. Oversight and Insurance Access to banking isnt the only thing affecting cannabis business profits.

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America’s Missed Opportunity in the Global Marijuana Market

Canna Law Blog

And even within that narrow scope, access is tightly limited: only eight DEA-registered bulk manufacturers are allowed to participate. hemp operators also face limited access to foreign markets. market access, lower regulatory costs, and better tax and banking treatment. Beyond lost market access, the U.S.

DEA 113
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Locked Out: SBA’s New Lending Policy Targets Hemp and Marijuana-Adjacent Businesses

Canna Law Blog

This shift may not only severely limit access to these critical funding programs for operators involved with Consumable Hemp Products but also impact ancillary businesses serving both cannabis industries The SBA’s 7(a) and 504 loan programs have supported small business growth for almost two decades. Yes, hemp with less than 0.3%

Policy 56
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Attorneys General Push for Marijuana Banking Reform

NORML

Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.

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