Washington State Medical Cannabis Business & Marijuana Legal News

Oregon credit union, tech firm to offer marijuana banking services

Oregon-based Wauna Credit Union has forged a partnership with Arizona tech firm Hypur that will allow the financial institution to service marijuana-related companies. According to the Coast River Business Journal, the credit union believes the partnership will allow the institution to “become part of the solution and not part of the problem.” Hypur is providing […]

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19 attorneys general urge Congress to give cannabis states access to banking

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

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Washington state cannabis oversupply spurs calls for change

Washington state’s cannabis supply continues to swell, flooding the market and causing both wholesale and retail prices to sink.

After the October 2017 outdoor harvest – the state’s largest to date – Jim MacRae, owner of cannabis-focused business intelligence firm Straight Line Analytics in Seattle, says the market will have a 60% larger supply than in 2016.

With an ounce of legal marijuana flower selling for as low as $40 in the state’s retail stores, both shop owners and producers are seeking changes to Washington’s cannabis regulations.

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Industry insiders, state officials in recreational cannabis markets vow to stay the course

Prominent figures from the nine recreational marijuana markets in the United States reacted defiantly to the announcement that Attorney General Jeff Sessions is throwing out Obama-era protections for the legalized cannabis industry. From Alaska to Maine, industry insiders in states with legal adult-use programs and politicians from both sides of the aisle spoke out against the action. But […]

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Delay in Washington state’s marijuana seed-to-sale system causes diversion concerns

Washington state marijuana businesses won’t have a government-run seed-to-sale tracking program for at least another month, causing industry insiders to worry that the prolonged delay could lead to diversion and other compliance issues.

The state’s Liquor and Cannabis Board was planning to implement Denver-based MJ Freeway’s Leaf Data Systems on Jan. 1 but instead has delayed the target rollout date to Feb. 1.

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Privateer adds marijuana edibles company The Goodship to its portfolio

Privateer Holdings has added an edibles company to its portfolio of marijuana businesses, marking the Seattle company’s first foray into the infused products sector. According to a news release, The Goodship, a Seattle-based marijuana edibles company, said it had agreed to join Privateer’s “family of brands.” Terms of the acquisition weren’t disclosed. The news release said the […]

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Snub by Washington state governor threatens hemp program

A budget proposal from Washington’s governor could spell doom for that state’s struggling hemp industry. State agriculture officials have stopped issuing hemp licenses, and they say they’ll end the hemp program without an infusion of cash to pay for oversight. The situation got more dire this week when a budget proposal from Gov. Jay Inslee did […]

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Washington state halts issuing of hemp licenses, citing budget shortfall

 Washington has stopped issuing hemp licenses because the program is too expensive, the latest hurdle for a state that led the nation in marijuana adoption but has lagged on hemp. The Washington Department of Agriculture won’t issue hemp licenses for 2018 unless state lawmakers devote $313,000 to the program, according to Capital Press, which covers […]

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Cannabis online platform raises $10 million

LeafLink, an online inventory and ordering platform for marijuana businesses, has raised $10 million in Series A funding. The round was led by Nosara Capital, a London-based venture capital firm, according to a LeafLink news release. Nosara was joined by previous LeafLink investors from both inside and outside the cannabis space, such as Lerer Hippeau Ventures, […]

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Washington state cannabis businesses get help with tracking system transition

The majority of license holders in Washington state have turned to BioTrackTHC’s Universal Cannabis System as a stopgap measure while the industry operates without a state-sanctioned seed-to-sale framework. Florida-based BioTrackTHC’s seed-to-sale contract expired Oct. 31, and the state’s new provider – Denver-based MJ Freeway’s Leaf Data Systems – isn’t expected to go online until Jan. 2018 […]

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Cannabis consumer website Leafly lays off 15 employees, hires CEO

The popular marijuana consumer website Leafly has laid off 15 employees and hired a tech entrepreneur to lead the Seattle company as its new CEO. The job reduction – unusual for the cannabis industry – cut Leafly’s workforce by about 13% and leaves the company with about 100 employees, GeekWire reported. Leafly didn’t say which […]

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