Category: business

Canadian Government’s Legal Marijuana Task Force Releases Recommendations

This morning in Ottawa, a task force assigned to study legalizing and regulating the adult use of marijuana in Canada released their recommendations. While the task force’s recommendations are non-binding, they announced during the press conference that the Canadian government will present legislation in the spring of 2017 modeled after this report.

Canadian Government’s Legal Marijuana Task Force Releases Recommendations

This morning in Ottawa, a task force assigned to study legalizing and regulating the adult use of marijuana in Canada released their recommendations. While the task force’s recommendations are non-binding, they announced during the press conference that the Canadian government will present legislation in the spring of 2017 modeled after this report.

NBN Partner Profile: O.penVAPE

Hello NORML supporters! Have you heard of O.penVAPE? Founded in 2012 by six dispensary owners and growers, O.penVAPE produces reliable and easy to use vaporizer pens. Their signature “go.pen” is rechargeable, has seven available color options, and comes with a lifetime warranty. The upgraded “go.pen plus” has a more powerful battery, provides a two-second longer puff than the go.pen, and is also backed by a lifetime warranty. O.penVAPE also offer accessories like chargers, cartridges, and even apparel on their website! They work with Organa Labs to provide organically extracted cannabis oils for […]

Departments of Justice and Treasury Release Marijuana Banking Guidance

Today, the Department of Justice and the Financial Crimes Enforcement Network division of the Treasury Department released long anticipated guidance to banks and other financial institutions on how they can interact with marijuana businesses that are licensed under state law. Under current regulations, financial institutions are required to file suspicious activity reports when they suspect the transaction has a drug connection. The new guidance creates a three tiered system for these reports: marijuana limited, marijuana priority, and marijuana termination. This will allow these institutions to work with marijuana businesses as […]

Banks Willing to Work With Marijuana Business, But Waiting for Federal Clarification

Reported this week in the Daily Herald: Community banks and credit unions are ready and willing to provide financial services to entrepreneurs in the state’s new legal pot industry. But they aren’t able to, at least not yet. Marijuana businesses, even ones that will soon be legally licensed in this state, are considered criminal enterprises under federal law, which makes handling their money a crime in the eyes of the Department of Justice. Until the agency changes its outlook or Congress changes the law — and efforts are under way […]