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Home » Cannabis Banking » Page 9

Cannabis Banking

Michigan Cannabis Regulatory Agency promotes DEI efforts of cannabis industry licensees

By Douglas Clark   |   August 3, 2022   |   Cannabis Banking

The Michigan Cannabis Regulatory Agency (CRA) announced the first approved gold qualifier, Pharmhouse Wellness, through the Social Equity All-Star Program, a new initiative encouraging cannabis indust...

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Bill seeks expungement of federal marijuana misdemeanors

By Douglas Clark   |   August 2, 2022   |   Cannabis Banking

U.S. Reps. Troy A. Carter, Sr. (D-LA) and Rodney Davis (R-IL) recently introduced legislation that seeks an expungement method regarding low-level federal marijuana violations. The Marijuana Misdem...

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House advances bill to foster cannabis research

By Dave Kovaleski   |   July 28, 2022   |   Cannabis Banking

The U.S. House of Representatives passed legislation designed to streamline the application process for marijuana researchers and remove FDA barriers to encourage research on marijuana. The bill -...

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Illinois sees spike in tax revenue from sales of adult-use cannabis in fiscal 2022

By Dave Kovaleski   |   July 27, 2022   |   Cannabis Banking

The State of Illinois saw a massive 50 percent increase in total tax reported from adult-use cannabis over the past year. Specifically, tax revenue went from $297.7 million in fiscal year 2021 to $...

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Michigan Cannabis Regulatory Agency details veteran marijuana research grant award effort

By Douglas Clark   |   July 26, 2022   |   Cannabis Banking

The Michigan Cannabis Regulatory Agency (CRA) has released details regarding Wayne State University and the University of Michigan receiving 2022 Veteran Marijuana Research (VMR) Grant Program Award r...

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Senators unveil marijuana decriminalization bill; Schumer hopes to pass legislation this year

By Kim Riley   |   July 21, 2022   |   Cannabis Banking

U.S. Senate Majority Leader Chuck Schumer (D-NY) on Thursday joined U.S. Sens. Cory Booker (D-NJ) and U.S. Senate Finance Committee Chairman Ron Wyden (D-OR) in introducing legislation to federally de...

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Connecticut Consumer Protection Department issues update on cannabis cultivation licensure process

By Douglas Clark   |   July 21, 2022   |   Cannabis Banking

The Connecticut Department of Consumer Protection (DCP) is encouraging qualifying Social Equity Applicants to proceed in the application review process for Cultivators in a Disproportionately Impacted...

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New York announces $5M in funding for cannabis accreditation programs

By Douglas Clark   |   July 20, 2022   |   Cannabis Banking

New York Gov. Kathy Hochul said $5 million has been earmarked for SUNY and CUNY community colleges to create credential programs or courses aiding pathways to cannabis industry employment. "New Yo...

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Colorado Gov. Polis issues marijuana-based Executive Order

By Douglas Clark   |   July 19, 2022   |   Cannabis Banking

Colorado Gov. Jared Polis has signed an Executive Order that ensures no Coloradan is subject to penalization for possession, cultivation, or use of marijuana in light of state legalization. Polis c...

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California farmers eye crypto-focused cannabis community

By Douglas Clark   |   July 18, 2022   |   Cannabis Banking

Legacy farmer and entrepreneur Justin Calvino is spearheading an effort by California cannabis farmers to establish a crypto-exclusive digital cannabis community named Emerald Road. "Emerald Road i...

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Cannabis Banking

  • Bill to provide cannabis businesses with banking services introduced in House
  • Pennsylvania AG among coalition urging Congress to pass cannabis banking bill
  • New York State hits $1B in cannabis retail sales
  • AICPA makes recommendations to IRS on cannabis businesses in advance of marijuana reclassification
  • CTrust launches credit scoring platform for cannabis businesses

Digital Currency

  • U.S. Bank executed pilot transaction utilizing its USBDC stablecoin
  • Blockchain Association, Crypto Council file motion to block Illinois law
  • Treasury links $12.7B to digital asset investment scams
  • Crypto Council, Blockchain Association file suit against Illinois’ digital assets tax
  • SEC proposed new rules for crypto assets
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