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Unique Banking Challenges MSOs Encounter

Cannabis Law Report

These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank. What are some of the issues that impact an MSO’s ability to access banking? Why MSOs face unique banking challenges.

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Pennsylvania’s Marijuana Banking and Insurance Bill Is Signed Into Law

PrestoDoctor

Marijuana banking options are limited for many entrepreneurs despite the fact that several thirty-six states legalize medical marijuana use. Thanks to a recent cannabis banking bill that has passed in Pennsylvania, cannabis-related businesses now have the right to use financial institutions and insurance for their businesses.

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Navigating the Legal Landscape in a Distressed Cannabis Industry

MJ Business Attorneys

Factors that negatively affect profitability in the cannabis industry include federal prohibition, state regulatory structures, taxes and lack of access to financial services. One example of an expensive regulatory demand is in security compliance. Excessive and ambiguous state regulations also abound across the cannabis industry.

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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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Understanding Medical Marijuana Laws in California

MMJ Recs

This landmark legislation legalized the use and cultivation of cannabis for medical purposes by patients with a valid recommendation from a physician. Together, these laws provide a comprehensive regulatory framework that governs the cultivation, distribution, and use of both medical and recreational cannabis.

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The Economic Impact of the Medical Marijuana Industry: Trends and Projections

MMJ Recs

This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. The establishment of cultivation, processing, and dispensary facilities creates a diverse array of employment opportunities, spanning from agricultural roles to retail positions.

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House of Representatives Set to Vote on SAFE Banking Act Today

Greenspoon Marder Cannabis Law Group Blog

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

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