New Threat to Cannabis & Banking
Oct31

New Threat to Cannabis & Banking

Here's the latest in the effort to (not) allow cannabis to use the bank.   Hundreds of medical marijuana dispensaries and recreational shops across the country abruptly lost their cashless ATM accounts on Wednesday with no explanation, according to sources close to the situation. One insider told Marijuana Business Daily that at least 300 to 400 shops were affected, and he warned that the number could double in the next few days....

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Amsterdam vs. Denver: A Paradigm Shift in Cannabis Culture
Oct28

Amsterdam vs. Denver: A Paradigm Shift in Cannabis Culture

“Hey tart, how much for a shag?” It’s a Friday night in what has long been known as the mecca of cannabis culture—a group of ten shaved heads in Arsenal jerseys jeers and shouts drunken slurs at a prostitute in de Wallen, Amsterdam’s Red Light District. They may have flown here on budget Ryanair for the legal cannabis, but these boys from Britain on a bachelor party weekend have more alcohol in them than cannabis, rolled up and smoked...

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Quest for the Cannabis Breathalyzer
Oct28

Quest for the Cannabis Breathalyzer

It feels like science and would be a slam dunk in court.  Every patrol officer dreams of a "cannabis breathalyzer."   A Colorado company attempting to develop THC breathalyzers is getting some help from the state – in the form of a sizable cash infusion. Lifeloc Technologies was recently awarded a $250,000 grant by the Colorado Office of Economic Development to develop the breathalyzers, which will be used to assess cannabis...

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Renewed Challenge to Schedule I
Oct27

Renewed Challenge to Schedule I

This is one of the keys to re-legalizing cannabis -- removing it from Schedule I.   Testimony regarding the constitutionality of the federal statute designating marijuana as a Schedule I Controlled Substance will be taken on Monday, October 27 in the United States District Court for the Eastern District of California in the case of United States v. Pickard, et. al., No.2:11-CR-0449-KJM. . . . This is the first time in recent...

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Working Around the Banks
Oct16

Working Around the Banks

Cannabis will not be re-legalized in any meaningful way until our plant can open a bank account.  Here's the next bend-in-the-road in this story.   What strategies are companies using to successfully open bank accounts? Currently, bank accounts for dispensaries and other cannabis businesses are substantially opened based on a “don’t ask, don’t tell” policy. Typically, a dispensary bank account will be established in the name of a...

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NY Times Endorses Re-Legalization
Oct13

NY Times Endorses Re-Legalization

Ka-boom, my friends.   From an editorial in the NY Times: Opponents of legalization warn that states are embarking on a risky experiment. But the sky over Colorado has not fallen, and prohibition has proved to be a complete failure. It’s time to bring the marijuana market out into the open and end the injustice of arrests and convictions that have devastated communities. Careful regulation of the drug could very well make it...

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