Marijuana Legalization and Regulatory News for Cannabis Businesses

CA Senate votes to allow banks, credit unions to accept marijuana retailer deposits

The California Senate voted almost unanimously to pass a bill that would allow banks and credit unions to accept cash deposits from cannabis retailers. The 35-1 vote would allow banks to issue special checks to the retailers that could be used for certain purposes, including paying taxes or California-based vendors. State lawmakers also say such […]

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Missouri denies medical cannabis traceability contract challenge by BioTrackTHC

Missouri regulators shot down a protest by Florida-based BioTrackTHC over the Show-Me State’s medical marijuana seed-to-sale contract. BioTrackTHC said the state shouldn’t have awarded the traceability contract to competitor Franwell, the Florida-based maker of Metrc, because it could contain hidden costs for cannabis license holders, the St. Louis Post-Dispatch reported. However, the state said the […]

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Smuggling case involving ex-execs at marijuana firm Vireo will proceed, court says

A Minnesota appellate court refused to dismiss interstate cannabis smuggling charges against two former Vireo Health executives, allowing the case to proceed to trial. Marijuana businesses have closely watched the situation because of its implications for MJ firms with affiliates in more than one state, the Rockland/Westchester Journal News noted. In this case, two Vireo Health officials […]

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New Jersey medical marijuana expansion bill gains traction

New Jersey lawmakers advanced a bill out of two committees Monday that would expand the state’s medical cannabis program. The measure includes a provision to transfer the program’s oversight from the state Department of Health to a dedicated regulatory commission, according to NJ.com. It also would expand the number of companies providing medical marijuana. The […]

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Northern Swan enlists major Democratic pols to boost Latin American cannabis push

Northern Swan, a New York-based marijuana investment group, installed two senior figures from the Democratic party to its advisory board to help navigate the company’s focus on Latin America. Bloomberg reported that the company appointed Tom Daschle, a former U.S Senate majority leader, and Joe Crowley, a prominent party member who last year lost a high-profile primary […]

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Federal bill provision would protect state-legal medical marijuana programs

A provision in one of the congressional spending bills would continue to protect state-legal medical cannabis programs from federal interference. It was included for the first time in the initial FY2020 Commerce-Justice-Science funding bill released by a House subcommittee. In the past, it’s been added as an amendment to the spending bill either in committee […]

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Massachusetts cannabis regulators cautious about approving acquisitions

Massachusetts regulators delayed voting on a proposed medical marijuana acquisition, reflecting the state’s deliberate approach in evaluating ownership-change requests. According to MassLive.com, the caution comes in wake of a report that some businesses may have skirted licensing rules. To read more about the state’s review process, click here.

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Marijuana industry veteran Ean Seeb tapped to lead Colorado’s MJ policy

Colorado Gov. Jared Polis selected cannabis industry veteran Ean Seeb to lead the state’s cannabis policy. Seeb was co-owner of one of Denver’s original cannabis retailers, Denver Relief, before it was sold. He also was co-founder of Denver Relief Consulting and twice served as chair of the National Cannabis Industry Association. Seeb doesn’t have an […]

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Major Oregon cannabis retailer Nectar hit with $4M suit over store purchase

Nectar, a prominent Oregon marijuana company with 18 stores statewide, has been sued for allegedly failing to pay $955,000 for its purchase of Rose City Buds & Flower, a cannabis retailer in the community of Aloha near Portland. The breach-of-contract suit, filed in Multnomah County Circuit Court in Portland, asks for $4 million in damages, […]

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Tax bill that could have boosted California marijuana businesses fails to advance

A proposal to temporarily lower taxes on marijuana products in California likely will not pass the state Legislature this year. The bill was designed to help licensed marijuana retailers compete with the illegal market, but the measure did not make it out of the Assembly Appropriations Committee on Thursday. The bill, proposed by Assemblyman Rob […]

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