Introduction: An Ongoing Battle Let’s start with a provocation: The War on Drugs – is it over? Although we might wish to leave it behind as a catastrophic failure, its specter continues to loom over the cannabis and psychedelics industries today. If you’re involved in these businesses, you’re still battling this war. The constraints placed …
End the War on Drugs to Let the Cannabis Industry Grow Read More »
What does Silicon Valley Bank and banking uncertainty have to do with cannabis? Only that to the cannabis industry banking uncertainty is old news. The SVB closure brought national attention to the banking industry and the expectation of reliable credit for businesses, new and old. For cannabis entrepreneurs this expectation of commercial banking, a necessity …
Banking in Cannabis: The Other US Banking Crisis Read More »
The Secure and Fair Enforcement (SAFE) Banking Act is a federal proposal for sanity in legal marijuana financial management. Imagine if you had a business where your customers could not use a credit card, all transactions are in cash, you lock up your cash in a safe at the end of the day and hope …
After years of anticipation, Senate Democrats finally introduced the Cannabis Administration and Opportunity Act (CAOA). Key sponsors are Schumer (NY), Wydon (OR) and Booker (NJ). The quick summary is that the bill eliminates cannabis from the Controlled Substances Act (CSA) and will create many business opportunities if it is passed. Here’s a list of 8 …
Cannabis Legalization Bill | 8 Things You Need to Know About CAOA Read More »
Last month we talked about what happened with Illinois dispensaries and the difficulties that were encountered when applying special scoring rules for both social equity applicants (SEAs) and veterans. Since the original intent in Illinois was to award the initial 75 licenses to the highest scoring applications, every point was important and those that could …
In May 2019 the Illinois state legislature passed a comprehensive adult use cannabis law called the Cannabis Regulation and Tax Act (CRTA). Illinois had already been the first state to pass comprehensive medical cannabis legalization by legislation as opposed to a ballot referendum. The Compassionate Use of Medical Marijuana Program Act, as the original legislation …
