Canna Law Blog

FEBRUARY 27, 2019

Six years after it was initially introduced, the House Financial Services Committee released the latest draft legislation that would create a “safe harbor” for banks to serve the rapidly expanding cannabis industry on February 7, 2019.

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Banking Marijuana Legislation Business 91

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account. . If you wish to re-publish this story please do so with following accreditation.

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Banking Hemp Business Agriculture 45

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. While marijuana is still illegal federally, many states have legalized marijuana for medical and recreational use. Bank Secrecy Act Compliance. Rockswold , Linda A. Albrecht and Allison Groskreutz. Eide Bailly LLP. Legal Hemp Growing.

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Banking Hemp Marijuana Compliance 40

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. This federal distinction, however, has not prevented more than 40 states from legalizing marijuana for medical and/or recreational adult use.

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Banking Law Compliance Compliance 40

Cannabis Law Report

AUGUST 10, 2022

Thirty-eight states have either decriminalized cannabis or enacted laws authorizing its use for medical or recreational adult use. [1] Some advocates are still pushing to pass the SAFE Banking Act, allowing banks insured by the FDIC to serve cannabis businesses without fear of violating federal law.

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Legalization Banking Legislation Compliance 52

Cannabis Law Report

AUGUST 4, 2022

The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S. Bank, with a mortgage on the property. Compliance with Applicable Laws. Boilerplate commercial leases will contain a section requiring the tenant to comply with ALL laws. No Cole Memorandum.

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Compliance Compliance Banking Business 52

Otherside Farms

MAY 5, 2020

Still, it is legally approved for recreational use in many states and Washington, D.C., Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives. Business funding for cannabis companies before recreational marijuana legalization happens is a concern for banks.

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Business Banking Seed-To-Sale Compliance 52

SpeedWeed

MARCH 9, 2021

and becoming legal, regulated, and accepted in more states, one thing the cannabis industry struggles with is having access to services that most businesses have access to, including banking and insurance. While the legal cannabis industry is slowly spreading across the U.S. The insurance broker M.J. View original article.

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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.

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Supply Chain Dispensary Banking Business 108

Canna Law Blog

APRIL 27, 2022

HempCoin focused on B2B transactions among farmers, manufacturers, and both medical and recreational dispensaries. Crypto exchanges like these can provide depository services, similar to banks, but with lower fees and access to a myriad of different payment options across borders and within both fiat and virtual currencies.

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Banking Cannabis Business Dispensary 70

Cannabis Law Report

JULY 15, 2021

It should be included in any assessment of 280E that a repeal (and normal access to banking) is likely to increase taxpayer compliance by existing companies. A report from the Treasury Inspector General for Tax Administration found significant compliance issues and underreporting of income under the current system.

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Compliance Compliance THC Retail 105

Cannabis Chronicles

JULY 1, 2019

Everything is harder — from opening a bank account to finding office space to hiring qualified employees — says Shane Schmitt, general manager of Wy’East Oregon Gardens, a cannabis cultivation and processing facility in Portland. But be warned, the cannabis industry is not for the faint of heart.

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Business Data Banking Cultivation 100

Cannabis Law Report

MARCH 13, 2019

The Cannabis and Hemp Advisory practice will provide counsel and support to existing businesses, start-ups, and ancillary service providers within the cannabis industry, especially in the areas of: tax planning; compliance with section 280E of the U.S. Will Banks get a Hit of the Cannabis Industry? CONTINUE READING. CONTINUE READING.

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Hemp Business Banking Concentrates 71

Canna Law Blog

OCTOBER 30, 2019

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.

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Business Banking Programs Compliance 43

Cannabis Law Report

NOVEMBER 6, 2021

As cannabis continues to make its way into the mainstream marketplace, state governments are increasingly legalizing and regulating it for medical or recreational use. Also, understanding the regulatory and compliance framework in your cannabis clients’ states will go a long way toward mitigating your own risk, she said.

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Banking THC Hemp Cannabis 52

Cannabis Law Report

MAY 26, 2019

Legalized cannabis – for medical or recreational purposes – is a rapidly expanding industry in the United States, with various states, including California, Colorado, Delaware, Illinois, Maryland, Nevada, New Jersey, New York, Pennsylvania and Washington, as well as the District of Columbia, regulating its use.

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Law Marijuana Compliance Compliance 55

Cannabis Law Report

MARCH 4, 2022

Most marijuana dispensaries manage to get off the ground thanks to investors and personal savings because banks don’t give out loans to dispensaries. Angel investors are people who will give money to your business in exchange for equity or loan it to you with an interest, just like a bank would. Compost onsite.

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Dispensary Marijuana Banking Business 59

Cannabis Law Report

DECEMBER 12, 2019

Recreational use is becoming legal in a growing number of states. . Eleven states have legalized the recreational adult-use of marijuana. Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. Bankruptcy and the CSA. The Federal Controlled Substances Act 21 U.S.C. §§801-904

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Compliance Compliance Chronic Pain Banking 59

Cannabis Law Report

FEBRUARY 3, 2020

Russell, and three companies they controlled, for an alleged scheme that defrauded investors who thought they were purchasing interests in a Washington-licensed recreational cannabis company out of approximately $4.85 million into Russell’s personal bank accounts. Griffithe and Robert W.

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Cannabis Business Recreational Banking 86

Cannabis Law Report

MARCH 20, 2020

MOBILE, DIGITAL BANKING . COMPLIANCE. HIPAA COMPLIANCE. While recreational legalization isn’t likely in 2020, full legalization could boost sales even higher. FINANCIAL SERVICES. ACCOUNTANT , CPA. TAX FRAMEWORKS. ADVERTISING OPPORTUNITIES. LEGAL SERVICES. INTELLECTUAL PROPERTY . TRADEMARK ,, PATENT PROTECTIONS.

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Dispensary Compliance Compliance Cultivation 64

Cannabis Law Report

JULY 28, 2022

Moreover, if the UK were to legalise cannabis – with recreational sales starting in 2024 – this would bring the market’s size to more than £1 billion in the UK alone. In the past year alone states as far apart New Jersey, Montana, South Dakota, New York and New Mexico have legalised cannabis for recreational use.

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Legislation CBD Media Recreational 52

Veriheal

NOVEMBER 12, 2020

First of all, customers purchasing cannabis, whether for recreational or medical use, pay taxes when they purchase legally. And because cannabis businesses can’t take advantage of banking protection s or other forms of federal assistance, they run the risk of being even more hard-hit by the recession.

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Business Banking Cannabis Compliance 62

Cannabis Law Report

DECEMBER 16, 2021

Because recreational use of marijuana is increasing, especially as more states legalize it, the CDC believes it’s important for all workplaces to implement and address marijuana policies in their motor vehicle safety programs. Low Percentage of New York Towns Opts Out of Recreational Cannabis. Loan applications will be available Feb.

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Cannabinoids Retail Policy Cultivation 52

Cannabis Law Report

APRIL 5, 2019

More than a year after legalization of recreational cannabis in California, the maturing California cannabis industry has seen an exponential increase in capital raising and M&A activity. Investors from Canada, where recreational marijuana is legal, are particularly interested in the California market. Authored By: Karen Balderama.

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Compliance Compliance Business Cannabis 51

Cannabis Law Report

JUNE 11, 2019

Since the legalization of recreational cannabis use in Canada in October 2018, investment has flowed into the cannabis sector. Entities financing cannabis businesses should perform due diligence to ascertain whether this is the case and seek to negotiate relevant representations and warranties to minimize risk and ensure compliance.

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Compliance Compliance Business Policy 40

Cannabis Law Report

SEPTEMBER 20, 2019

They write… In this week’s edition: Plans to vote on cannabis banking legislation announced in both chambers of Congress, with predictions that House will pass the SAFE Act by the end of October. House Majority Leader Steny Hoyer (D) intends to put the cannabis banking legislation on the floor by the end of September.

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Vaping Banking Research and Development DEA 40

Cannabis Law Report

MARCH 17, 2020

As Congress is considering legislation to provide banks with a safe harbor for providing services to those in the cannabis industry, other areas, from financial services to soft drink manufacturers, are actively assessing how the explosion of this new market will impact their products and services. Compliance program.

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Compliance Compliance State Laws Law 59

Cannabis Law Report

JULY 14, 2021

Federal Laws The concepts of “medical cannabis” and “recreational cannabis” do not exist under U.S. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. Cannabis-related Practices or Activities are Illegal Under U.S. federal law. federal law.

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Research and Development Clinical Trials Events Treatment 105

Cannabis Law Report

AUGUST 8, 2019

investment community as to the boundaries of legal risk and compliance. cannabis is illegal for recreational use and is classified as a Class B drug under the Misuse of Drugs Act 1971. to be paid into his Spanish bank account and allowed the fraudsters to withdraw money from that account. There is very little guidance for U.K.

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Legalization Banking Compliance Compliance 40

Cannabis Law Report

JUNE 23, 2021

Acquisition solidifies Canopy Growth’s leadership position in the Canadian recreational market. Additionally, the acquisition of Supreme further strengthens Canopy’s overall leadership position within the Canadian recreational market and creates a pro forma Q4 FY 2021 market share of 18.1%

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Recreational Events Collective Cultivation 90

SpeedWeed

JULY 21, 2021

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. Going from medical to recreational, it was about a five-times increase in business. With recreational, there’s a much bigger knowledge gap,” Wiegand said. Reflecting on Lessons Learned.

Dispensary 52

Dispensary Packaging Terpenes Consumption 52

SpeedWeed

JULY 21, 2021

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. Going from medical to recreational, it was about a five-times increase in business. With recreational, there’s a much bigger knowledge gap,” Wiegand said. Reflecting on Lessons Learned.

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Cultivation Legislation Dispensary Packaging 52

SpeedWeed

JULY 22, 2021

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. Going from medical to recreational, it was about a five-times increase in business. With recreational, there’s a much bigger knowledge gap,” Wiegand said. Reflecting on Lessons Learned.

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Dispensary Packaging Terpenes Consumption 52

Marijuana Lawyer Blog

APRIL 15, 2019

64 that legalized recreational use. Attorney General said he’d favor a new bill protecting cannabis businesses and users from federal prosecution as long as they were in compliance with federal law. This was true even here in California, where medical marijuana has been legal since 1996 and even with the passage of Prop.

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Policy Programs Banking History 45

Cannabis Law Report

JUNE 26, 2022

Thirty-nine states allow the use of medical marijuana, while 18 states and the District of Columbia permit both medical and recreational marijuana. There also exist certain requirements to demonstrate compliance with the Regulations. On request, IHEs must provide a copy of their biennial report to the U.S. Certification Requirements.

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Research and Development Education Programs Policy 52

SpeedWeed

JULY 28, 2021

The Source pivoted to the adult-use market quickly, launching its first recreational sales at its Sahara location on July 1, 2017. Going from medical to recreational, it was about a five-times increase in business. With recreational, there’s a much bigger knowledge gap,” Wiegand said. Reflecting on Lessons Learned.

Dispensary 52

Dispensary Packaging Terpenes Consumption 52

Cannabis Law Report

MAY 28, 2022

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. economy: the financial system.

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Banking State Laws Law DEA 52