October 2, 2018

Understanding Payment Processing in the Cannabis Industry

Because the cannabis industry in the United States is still technically illegal on the federal level, many banks are hesitant to accept or handle the money that is involved in this “high-risk” trade. This creates some complex problems for companies which are operating completely within regulatory guidelines; because marijuana-related businesses (MRBs) are forced to run cash-only businesses, this makes them huge targets for crime and creates frustrating, and often confusing, accounting hurdles to jump.
October 2, 2018

FINCANN Has A Solution To Cannabis Banking

If you haven’t heard about the issues surrounding cannabis banking, then it’s time to get familiar. Despite being legal in some form in over 25 states, federal law still makes it hard for banks to accept money from the industry. According to federal law Marijuana is still a schedule I prohibited drug. Other drugs in this category are heroin, cocaine and LSD. Any federal bank that does business with cannabis growers, distributors or dispensaries are subject to penalization for money […]
October 2, 2018

Make Millions Thanks to California’s Cannabis Explosion

$20.2 billion is expected to pour into California’s cannabis market in just the first year the state goes fully legal – and investors who know how to get in on the ground floor could see a small stake turn into a million-dollar windfall. We’ve narrowed the pool to three tiny companies expected to deliver once-in-a-lifetime fortunes. But once these stocks go from $1 to $10, to $20, or more… you may never see a chance like this again.
October 2, 2018

Shop Talk: The financial-service challenges faced by cannabis-related businesses

Even as Congress is expected to soon legalize hemp as a crop — with implications for activities ranging from medical treatments and construction materials to fabrics and investment opportunities — cannabis businesses have effectively been shut out of the banking business, leaving them with piles of cash and few effective ways to secure and manage it. Our guest, Nathaniel Gurien, founder of FINCANN, connects pot-related business with the so-called Cannabis Banking Financial Network, joins us to discuss those issues.
October 2, 2018

Effects of the Black Market on the Legal Cannabis Industry

Legalization was supposed to end cannabis-related organized crime. However, despite recreational and medical legalization spreading like wild fire across North America and Europe, the black market persists just the same as it ever has. And it will continue to. Price is the biggest reason for that. It’s easy to believe that celebrity branded, high quality marijuana is a no brainier, however the majority of consumers aren’t cannabis connoisseurs and simply want the most bang for their buck. If the government […]
October 2, 2018

Pot industry to Sessions: Really? Calm (mostly) prevails after federal storm

U.S. Attorney General Jeff Sessions’ action to rescind policies that let states’ marijuana industries proceed without federal intervention landed with a thud in the industry in Washington state and elsewhere. Sessions’ new stance will let federal prosecutors decide how aggressively to enforce federal law prohibiting it, giving added uncertainty to an industry long used to it.
October 2, 2018

Legal pot’s high is thwarted by leery bankers

Reggae star Peter Tosh’s 1975 pro-marijuana anthem called to “legalize it, don’t criticize it.” But an extremely critical edict from the Trump administration threatens to send the legalization trend up in smoke, starting with pot purveyors’ ability to open bank accounts.
October 2, 2018

WIRE: Jeff Sessions moves to rescind cole memo, prosecute legal cannabis

Washington, D.C. – Today, U.S. Attorney General Jeff Sessions announced that the Department of Justice has rescinded the “Cole Memo” and two additional memos related to marijuana enforcement policy. These memos, issued in 2013 and 2014, have helped to clarify the Department’s response to state-legal cannabis activity.
October 2, 2018

10 Cannabis CEOs Give Us Their Take on Jeff Sessions’ Policy Decision

As many readers may have already heard, Attorney General Jeff Sessions rescinded the Cole Memorandum, the Obama-era policy that gave protection from federal prosecution for the state-sanctioned consumption, cultivation, and sale of cannabis.
October 2, 2018

Why Jeff Sessions’ New War on Marijuana Hasn’t Frightened Investors or Cannabis Entrepreneurs

Someone’s always gotta’ try and ruin a good party. Last week it was Jeff Sessions. Californian’s were granted the long-awaited right to possess cannabis for both medical and now recreational purposes and the world watched vicariously for a whole four days until someone knocked over the punchbowl.
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