Could a Public Cannabis Bank in California Work?

cannabis bank California

Operating a marijuana business is risky. The all-cash environment is inconvenient and a target for criminals and the whole fiasco is the direct result of federal prohibition. Some banks and credit unions provide the industry with limited transactions under FinCEN guidelines, but most will not allow marijuana companies to access any of their services. In desperation, many canna-business owners experiment with crypto currencies and pre-paid options, such as Tommy Chong’s Green Card, but over the last months, a bold new initiative is gaining popularity: A public bank. More and more…

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Study Predicts a $5 Billion Market for Recreational Marijuana in California

recreational marijuana in California

In coming years, legal cannabis sales will add billions of dollars to California coffers and attract millions of domestic and foreign pot tourists to the state. This is according to a new study, funded and commissioned by the regulatory agency responsible for supervising the beginnings and workings of the new recreational marijuana market. Conducted by researchers from the University of California Agricultural Issues Center at the University of California Davis, the study estimates that recreational pot sales will account for roughly 60 percent of California’s cannabis industry in the future,…

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How Can Medical Marijuana Patients in California Protect Their Jobs?

Job Protection of Marijuana Patients in California

Since voters approved Proposition 64 in November last year, recreational marijuana is legal in California. Medical cannabis has been legal since 1996 already, but with the passage of Proposition 64, there is more confusion than ever before among employers about whether they need to accommodate stoned employees at work. They have no obligation to, just as they do not have to tolerate drinking on the job. If employees test positive for cannabis, employers have the right to terminate their employment. Since weed has been legal for medical purposes for over…

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