Massachusetts Regulators Suggest State-Run Bank for Cannabis Industry

The Massachusetts Cannabis Control Commission is suggesting the creation of a state-run bank to serve the state’s canna-businesses after Chairman Steve Hoffman pointed out that no local banks or credit unions have indicated they would provide services to the industry, the Boston Globe reports. “There’s a high degree of urgency, so it’s something we need […]

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Treasury Secretary Tells Committee He Supports Canna-Business Banking Access

In testimony to the House Financial Services Committee, Treasury Secretary Steven Mnuchin said he supports allowing canna-businesses access to banks, according to a Forbes report, adding that the department is “reviewing the existing guidance” and doesn’t want to rescind it without having a new policy in place. “I assure you that we don’t want bags […]

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19 Attorney Generals Send Letter to Congress Asking for Cannabis Banking Protection Legislation

Attorney generals from 17 states, Washington, D.C., and Guam have sent a letter to members of Congress urging them to “advance legislation that would allow states that have legalized medical or recreational use of marijuana to bring that commerce into the banking system” following Attorney General Jeff Sessions’ move to rescind the Cole Memo protections. […]

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Report: FinCEN Not Consulted on Sessions’ Cannabis Policy Change

According to a report from Reuters, regulators at the federal Financial Crimes Enforcement Network (FinCEN) were not informed about Attorney General Jeff Sessions’ cannabis policy change but FinCEN spokesperson Stephen Hudack said the agency’s 2014 guidance “remains in place.” According to September 2017 data from FinCEN more than 300 banks and nearly 100 credit unions […]

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FinCEN Counts 400 Financial Institutions Providing Services to Cannabis Industry

According to September 2017 data from the federal Financial Crimes Enforcement Network (FinCEN), more than 300 banks and nearly 100 credit unions are providing services to cannabis-related businesses. The number of institutions doing business with the sector has been steadily increasing since the second quarter of 2014. According to the data — first reported by […]

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KIND Financial Launches First ‘Seed-to-Payment’ System in Canada

KIND Financial has rolled out the cannabis industry’s first-ever “seed-to-payment” system in Canada, which will allow users to track the complete lifecycle of a plant from seed to payment, including granting users access to bank accounts and credit card processing. The e-commerce platform also allows companies to explore international trade options without worrying about foreign […]

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Uruguay Moving Legal Cannabis Sales from Pharmacies to Cash-Only Shops

Officials in Uruguay are moving retail cannabis sales from pharmacies to shops that will sell the products for cash, the Panama Post reports. The move comes less than a month after banks said they had to close accounts of pharmacies participating in the state-run program due to international anti-money laundering laws. Three of the 16 […]

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Hawaii Tabs CanPay for MMJ Industry Transactions

All eight of Hawaii’s medical cannabis dispensaries will go cashless as of Oct 1., opting instead to use the CanPay system, according to a KOHN2 report. In addition to allowing the dispensaries to forgo cash transactions, the debit payment mobile application system will allow them to direct deposit employee payroll, collect and remit taxes, and […]

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House Committee Blocks All Cannabis-Related Budget Amendment Votes

The Republican-controlled House Rules Committee has blocked multiple cannabis-related amendments from receiving consideration by the full chamber, effectively preventing the House from offering the industry protection from the Justice Department. The quashed amendments include: protections for state-approved hemp programs and banks choosing to do business with the cannabis industry; the Rohrabacher-Blumenauer amendment, which prevents the feds […]

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Dirty Green Dollars: Cannabis Taxes and the Banking Predicament

In the U.S., legal cannabis — medical and recreational — is a multi billion dollar industry which deals almost exclusively in cash. In 2016, the industry generated approximately 7.9 billion dollars in revenue and is on pace to exceed that amount in 2017 — and that is not including the thousands of black market operators […]

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One Bank Serving Six of Florida’s Seven MMJ Companies

Six of Florida’s seven licensed medical cannabis companies are doing business at First Green Bank, an Orlando-area financial institution founded in 2009, the Tampa Bay Times reports. The small firm has just six branches throughout Central Florida, managing about $622 million in assets. Lex Ford, a senior vice president at First Green, said the institution […]

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Banks in Uruguay Closing Accounts of Pharmacies Selling Cannabis

International anti-money laundering laws are forcing banks to abandon Uruguayan pharmacies legally selling cannabis, according to a Business Times report. Jorge Polgar, president of the state-run Banco Republica, said keeping the accounts open would prevent the institution “from carrying out any kind of operation with an international counterpart” and “cause [the bank] and its clients […]

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National Conference of State Legislatures Call for Cannabis’ Removal from CSA

The National Conference of State Legislatures, a bipartisan non-government organization, has passed a resolution calling for the removal of cannabis from the Controlled Substances Act, “thus enabling financial institutions the ability to provide banking services to cannabis related businesses.” “The National Conference of State Legislatures acknowledges that each of its members will have differing and […]

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Partner Colorado Credit Union Creates Service to Serve National Cannabis Companies

Partner Colorado Credit Union has created a Credit Union Service Organization to serve other credit unions interested in serving the cannabis space, according to a Credit Union Times report. The program, called Safe Harbor Private Banking, is designed as a stand-alone company that seeks to “expand the (Partner Colorado) cannabis banking program nationally and help […]

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Appeals Court Decision Breathes New Life Into Cannabis Credit Union Plan

A decision last week by the 10th U.S. Circuit Court of Appeals may allow plans for the world’s first banking institution dedicated to legal cannabis to move forward, according to a Cannabist report. The Fourth Corner Credit Union was first announced in 2014 as a solution to the cannabis industry’s status quo as an all-cash industry. […]

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The Current State of Cannabis Business

One of the first things you learn in high school civics class is that there is federal law, and then there is state law. There are times where these two worlds collide; the collision is particularly bad when it comes to cannabis. Currently, we have 29 states plus the District of Columbia that have legalized […]

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PNC Bank Drops MPP Accounts

PNC Bank is closing the accounts of the Marijuana Policy Project after an audit revealed that the organization received funding from a company that ‘touches the plant,’ according to a Washington Post report. MPP is not involved in cannabis cultivation or processing. Nick Field, MPP’s chief operating officer indicated that a PNC Bank representative told […]

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Federal SAFE Banking Act Would Normalize Banking for Canna-Businesses

The dangers, inefficiencies, and potential for loss due to the cannabis industry’s cash-dominated system are well documented – and while there are memos from both the Justice Department and the Financial Crimes Enforcement Network that provide a path for financial institutions to provide services to the industry, a federal bill filed last week would provide […]

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Senators Urge FinCEN to Allow Bank Access to Legal Canna-businesses

A bipartisan group of U.S. senators has sent a letter to the Financial Crimes Enforcement Network urging the agency to explicitly allow financial institutions to do business with legal canna-businesses. In the letter, sent to Acting Director Jamal El-Hindi, the senators argue that due to the disparity between federal and state drug laws “many legal […]

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How to Open a Bank Account for Your Cannabis Business

According to recent data from the Associated Press, there are now more than 300 U.S. banks and credit unions that can handle transactions for cannabis businesses. With more than 25 states having legalized the sale of marijuana in some form, more and more cannabis companies are using banks throughout their daily business. However, given restrictions […]

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Blockchain Startups Eyeing Colorado Cannabis Industry

While most canna-businesses are left without access to traditional financial institutions, some Colorado companies are turning to non-traditional enterprises in order to cut down on the number of cash transactions. One such enterprise, the blockchain startup Tokken, is targeting the 75 percent of cannabis businesses operating without bank accounts in Colorado. Tokken provides an online […]

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Two Big Canadian Banks Refusing Service to Cannabis Companies

Two of Canada’s big banks, Scotiabank and the Royal Bank of Canada, are no longer providing accounts to marijuana businesses, even though federal legalization is on the horizon, according to a report from the Canadian Press. Although both banks declined to discuss the specifics of recent denials of service letters sent to customers operating in […]

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Denver Credit Union to Add More Cannabis Industry Depositors

Denver, Colorado-based Partner Colorado Credit Union is providing services to about 20 cannabusinesses in the state, with plans to add five more per month, the Credit Union Journal reports. The credit union first launched their Safe Harbor Private Banking division in January. Nearly 25 percent of the financial institution’s 40 employees devote their time to […]

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Cannabis-Friendly Illinois Bank Targeted by Feds

The Des Plaines, Illinois-based Millennium Bank entered into a consent order with the Federal Deposit Insurance Corp and the state’s Division of Banking last March due to the bank’s involvement with cannabis companies, according to an American Banker report. The order forces the community bank to change its programs in order to comply with the Bank […]

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  • Releaf App

    The Dispensary Partnership Program uses data collected from patients, via Releaf App, to provide business analytics to dispensaries (USA) and licensed producers (Canada). This data service is creating a new class of dispensaries that are driven outcomes and patient results. The dispensary partnership program shows symptom-specific patient ratings & analytics for the specific cannabis batches and products in a dispensary’s inventory. Dispensaries use this information to give more informed recommendations at the counter.

  • CannaPlanners

    CannaPlanners is a full service design and web agency, dedicated to normalizing the cannabis industry through professional and beautiful design services. From logos to packaging design, trade-show materials to t-shirts and hats - we've got all your creative needs covered. Our turnkey WordPress site builder allows for great-looking sites at affordable rates. Let our creative team tell your story!

  • Hardcar

    HARDCAR is a world class asset protection and armored transportation company From ground breaking cybersecurity to robotics and custom built solutions to meet customer demand we believe in real customer satisfaction not lip service.

  • CannaSafe Solutions

    CannaSafe Solutions is the one-stop-shop for all the safety needs of your cannabis growhouse, dispensary, lab, or edibles manufacturing facility. We provide all of the safety equipment and apparel you need to protect your employees, your plants, and your business.

  • Wise Public Relations, Inc.

    We help our clients win by outsmarting and outmaneuvering the competition rather than outspending them. That’s our specialty. Through a strategic mix of marketing disciplines, all working together to create real momentum that give our clients a critical competitive advantage in the marketplace. MedMen, Cloudponics, Style & Stigma. We take great pride in the work we do and accountability for the opinions we shape. We have fun doing it. And we hope it shows.

  • Craft Cannabis Marketing

    We offer two decades of experience providing advertising, branding, and web design solutions to the most recognizable brands from around the globe. Simply put, we decided to take the expertise we gleaned working with big-name companies you know and love and bring it to the emerging cannabis industry. We’re more than a mere agency – we’re cannabis advocates.

  • LC Solutions Michigan PLLC

    LC Solutions offers clients timely accrual based bookkeeping, cost accounting strategies, planning, and consulting services. Our model supports an ongoing client relationship, helping to ensure accurate accounting records throughout the year. We are professional, patient, and creative in our approach. LC Solutions specializes 100% in serving Michigan’s Medical Cannabis industry.

  • Portable Smoke

    Portable Smoke is your online destination for purchasing portable discreet items for your smoking needs. We recognize that smoking may be a discreet and a recreational activity to participate in alone or with trusted friends. As a result, we specialize in selling grinders and bowls that you can hide right under everyone’s nose.

  • Weed Pay LLC

    Weed Pay is a cannabis banking and merchant services company. We think differently than conventional credit card processing companies due to our history of handling high-risk accounts. We are experts in the field of alternative payment options, merchant accounts, and banking. Our mission and vision are to provide needed customer support services to the cannabis industry within these areas.

  • 4blooms

    4blooms is San Diego’s first marijuana-specific marketing agency. The agency works with businesses involved in all aspects of the cannabis industry across the U.S., from growers to dispensaries to smoke shops. The team’s deep experience in web development, design and marketing makes 4blooms able to handle all aspects of business operations.

  • Green Fields Accounting

    We have a full bookkeeping service to help you keep your financial statements compliant. We are also experts in taxation. We keep informed of all the latest industry tax changes. We are also Enrolled Agents who are experts in defending our clients in audits with the IRS. We can also help with sales and excise taxes applicable to your business. We will make sure you understand Form 8300 and take care of the e-filing of this form.

  • Sapphire Risk Advisory Group

    Sapphire is an organization of professionals whose careers are centered on the science of preventing crime and increasing pro-business results through the implementation of controls and processes. Our vision is to create environments that are crime adverse due to strategic planning and foresight. Sapphire will be in your corner with advice and counsel as long as your organization is continuing to grow.

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