President Trump’s nominee for Attorney General Bill Barr told senators in his confirmation hearing that he’s not interested in attacking state-legal cannabis businesses. Responding to questions posed by Sen. Cory Booker (D-New Jersey) and Sen. Kamala Harris (D-California), Barr referenced the Cole Memo, an Obama-era guidance for the Department of Justice that was rescinded last
Successful launch of Company’s proprietary cannabis banking solution last quarter, to generate first-ever revenue stream for Company Over 150 applications and dozens of new accounts for banking opened since achieving commercialization last quarter Go! platform to represent first-ever payment solution available across all legalized cannabis states, providing Company with key first-mover advantage Company expects to
West Virginia’s financial institutions face risks when providing banking services to medical marijuana businesses because cannabis is illegal under federal law, the state’s attorney general, Patrick Morrisey, wrote in a new opinion. Banking has been one sticking point in the rollout of West Virginia’s medical cannabis program, which has been delayed by disagreements over rulemakings.
West Virginia has about six months — and one regular legislative session — until its medical marijuana program launches, and lawmakers and other officials are still trying to figure out where the money is to go. Gov. Jim Justice signed the Medical Cannabis Act into law in 2017, with sales scheduled to begin this July
Hundreds of companies applied for medical marijuana licenses because it can be a very lucrative industry. But it is usually an all-cash industry, which increases the risk of crime. Only one bank in Arkansas, though, said it will protect those businesses and accept their money. “Now having that the election is over with and the