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In the past few years, recreational marijuana legalization has increased, with New York becoming the most recent state to enact legislation. The growth has created substantial revenue opportunities for companies that have invested in preparing to participate in these new regulatory frameworks. Along with that nationwide expansion, though, comes greater government scrutiny. All current and future marijuana industry participants must stay aware of specific areas where the government is focusing its enforcement efforts and develop appropriate compliance procedures.

Continue Reading Growing Cannabis Industry Attracts Increased Government Enforcement

In a vote of 321-103, the House of Representatives took the first steps to securing better access for the cannabis industry by passing the Secure and Fair Enforcement Act, “SAFE” Banking bill. Introduced by Rep. Ed Perlmutter (D-CO), the bill has slowly gained momentum as the cannabis and financial industry have continued to lobby and pressure Congress into acting. With over 206 co-sponsors, the House Leadership scheduled a floor vote under suspension of the rules thereby eliminating any amendments and the need for two-thirds vote of the House of Representatives.

Continue Reading House of Representatives, in a Historical Moment, Passes a Standalone Marijuana Bill to Assist Banks that Service Cannabis Businesses