Medical marijuana may be legal in many states, but federally, it is still illegal. This means that banks run the risk of being charged with money laundering or other crimes for working with what the federal government considers an illicit activity. This creates a precarious situation where billions of dollars of state-licensed marijuana profits are handled almost exclusively in cash. What are the laws the set up this framework? What problems does this create? What is the solution?
Tag Archives: Federal Government
Funding for the federal government is set to run out on Friday, unless Congress enacts a bill extending current spending levels. Also set to expire is a current rider that prevents the Department of Justice from interfering with state medical cannabis laws.
Congressman Steve Cohen (D-TN 9th District) questions Attorney General Jeff Sessions on America’s marijuana laws and Session’s infamous quote “good people don’t smoke marijuana.”
Canada’s biggest medical cannabis producers are seeing their stock prices rise after the federal government announced a plan to levy a one dollar per gram tax on recreational marijuana sales.
Canada is proposing a federal excise tax on marijuana to help ease the path to legalizing the drug, Prime Minister Justin Trudeau said on Tuesday, drawing a cautious response from provinces that would oversee the process.
Last November, California voters approved a ballot measure to legalize marijuana. Now, the state’s lawmakers are formally calling on the federal government to reclassify marijuana.
Undoubtedly, a reversal in the federal government’s laxness on pot would be terrible news for marijuana stock investors, but not every last company would be decimated. One marijuana stock could still thrive, even with Jeff Sessions waving the metaphorical sword at the pot industry: Scotts Miracle-Gro.
An 11-year-old girl from Rowlett, Texas is taking on the United States federal government by suing them over medicinal marijuana.
With excitement bubbling over the growth potential in the marijuana stock market, investors are keen on which pot stocks are the best to ride that wave of hype into comfortable returns.
LANSING, Mich., July 10, 2017 /Weed Wire/ — State Rep. Jeff Yaroch has introduced a resolution calling for clarity from the federal government on enforcement of laws involving marijuana.
On Tuesday, June 20, 2017, Pennsylvania’s Department of Health is to announce which companies are the first to receive medical marijuana permits.
The marijuana industry, and marijuana stock investors for that matter, have been expanding by leaps and bounds over the past two decades. One good way to keep this up is through university-based clinical studies. Studies like these really fan the flame of what might be possible with cannabis-based medicines.
Recreational marijuana is now legal in several U.S. states, and more than 20% of people over 21 years old in the country are allowed to smoke legally. CNN’s Cristina Alesci explains what you need to know about the future of the weed industry.
Marijuana grown by the federal government for research purposes does not have the same quality as the pot from other sources. Until recently, the U.S. federal government had to grow all the marijuana that would be used in scientific research, but researchers have found the government’s pot to be, essentially, irrelevant.
The leader of the nation’s largest sheriff’s department says he expects federal drug agents will attempt to step up marijuana enforcement as California moves forward with legalization. But Los Angeles County Sheriff Jim McDonnell said he believes there isn’t the manpower to conduct widespread raids on growers and businesses selling marijuana.
Colorado Attorney General Cynthia Coffman, said she would like Jeff Sessions to witness the state’s flourishing recreational pot industry before imposing a crackdown.
Jeff Doctor, executive director of the National Indian Cannabis Coalition, gives insight to the industry opportunities that are available when working with the NICC and tribal governments.
A legal marijuana industry could contribute billions of dollars in annual tax revenues to state and federal governments, according to the Tax Foundation. “If all states legalized and taxed marijuana, states could collectively expect to raise between $5 billion and $18 billion per year,” the report said.
An upcoming ruling by the U.S. Court of the Appeals for the Ninth Circuit could restrict the application of federal drug laws in states that allow medical marijuana. If the court rules to limit the application of federal laws, several Washington and California residents facing jail time under federal laws could see their convictions overturned.
An amendment protecting state medical marijuana programs from federal meddling passed the Senate Appropriations Committee by a vote of 21-9. Of those 9 “nays,” only one was from a Democrat—U.S. Senator Dianne Feinstein from California. The Drug Policy Alliance hopes to sway the legislator’s opinion.
The Federal Government’s Drug Enforcement Administration (DEA) budgeted 21 kilograms of marijuana for 2014, but it just bumped that up to 650 kilograms.