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More banks serving cannabis businesses, fed data shows (Newsletter: Jan. 2, 2018)



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CA legal sales begin; VT legal marijuana moves this week; No FL legalization ballot measure this year

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New federal data from the Financial Crimes Enforcement Network shows a steadily increasing number of banks willing to work with the marijuana industry.


Congressman Ro Khanna (D-CA) tweeted that “in states where marijuana is legal, entrepreneurs should be able to access the same banking services as anyone else.”


California regulators announced that they’ve already licensed more than 400 legal marijuana businesses.

Vermont’s House Judiciary Committee will discuss a pending Senate-passed marijuana legalization bill on Wednesday. The full body is expected to vote later in the week on sending the measure to Gov. Phil Scott (R), who has pledged to sign it.

An Indiana senator filed legislation to clarify the legality of CBD medical cannabis oil.

Michigan law enforcement agencies are using medical cannabis revenue to ramp up enforcement as the state prepares to issue dispensary business licenses.

Florida groups working to qualify marijuana legalization ballot measures concede that they won’t succeed in 2018 and are now aiming for 2020.


Canadian government officials spoke about plans to combat the “grey market” for marijuana with legalization. They also said that cannabis tax rates will likely need to be adjusted over time.


A study “did not observe any clinically significant association between current or past self-reported marijuana use and measures of kidney function.”

A study found that “cannabis users exhibited poorer overall learning and delayed recall and greater interference and forgetting than tobacco users, and exhibited poorer recall than norms;” “cannabis users had slower reaction times during information processing and sustained attention tasks” and “cannabis users had superior health satisfaction and psychological, somatic, and general health than tobacco users and had similar mental and physical health to norms.”

A review concluded that “the endocannabinoid signalling system plays a key modulation role in the activities subserved by the hippocampus, which is directly or indirectly affected in epilepsy patients.”


California retailers began legal recreational marijuana sales.

New Cannabis Ventures predicts consolidation in the Canadian marijuana industry.

Marijuana Business Daily looks ahead to challenges and opportunities for the cannabis industry in 2018.

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Tom Angell is the editor of Marijuana Moment. A 20-year veteran in the cannabis law reform movement, he covers the policy and politics of marijuana. Separately, he founded the nonprofit Marijuana Majority. Previously he reported for and MassRoots, and handled media relations and campaigns for Law Enforcement Against Prohibition and Students for Sensible Drug Policy.


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