#californiacannabis – “”Restricting access to cannabis = increased opioid addiction and suicide.” That’s the message commuters driving down Miramar Road in Mira Mesa are seeing, thanks to a billboard placed by military veterans’ advocacy group, Weed for Warriors….
“California and the nation’s, veterans are dying at horrific rates from opioid addiction and suicide. A lack of local access to safe, legal medical cannabis in San Diego threatens the livelihood of veterans who depend on this medication,” said Sean Kiernan, CEO of Weed for Warriors. “Local control has severely disrupted access to a product that veterans rely on. Despite serving their country overseas, the state’s legal cannabis prohibition demonstrates veterans are being left behind.””


#californiacannabis – “As a measure to protect cannabis consumers from untested and unregulated product at unlicensed businesses, two Los Angeles City Council members introduced a motion Wednesday aimed at implementing a county program that issues emblem placards to licensed cannabis businesses.
Under the County of Los Angeles’ Emblem Program for Authorized Cannabis Stores, storefront and delivery cannabis businesses are able to apply for an emblem, obtain the requisite inspection and place the emblem on their premises in an area visible to someone outside the store.”


#cannabisindustry – “The Controlled Substances Act (CSA) identifies the cannabis plant and all its derivatives as a Schedule 1 controlled substance. Schedule 1 controlled substances have a “high abuse potential with no accepted medical use,” and they cannot be “prescribed, dispensed, or administered.” Because cannabis remains classified as a Schedule 1 controlled substance, the CSA “imposes strict controls on possession, manufacturing, distribution, and dispensing” of cannabis.
Under the Money Laundering Control Act of 1986 (MLCA) and the BSA as amended, covered banks and NBFIs are prohibited from providing financial services to businesses that are engaged in illicit activities. Because federal law prohibits the distribution and sale of cannabis, financial transactions involving CRBs are therefore deemed to be transactions that involve funds derived from illegal activities….
The growing divide between federal prohibition and state legalization of the cannabis industry creates a precarious position for federally regulated banks and NBFIs with the main concern involving exposure to legal, operational and regulatory risk. The situation begs the question: How might the federal government and regulators pursue and prosecute players in the legal cannabis industry?”


#cannabisindustry – “A recent ruling from the U.S. Bankruptcy Court for the District of Arizona serves as another reminder that federal bankruptcy courts are hostile territory for cannabis companies and their operators.  Ryan Mayer filed a bankruptcy case under Chapter 13 of the U.S. Bankruptcy Code, seeking to reorganize his personal debts and liabilities.  In a Chapter 13 bankruptcy, an individual proposes a plan to re-pay all or a portion of his debts.  The amount to be repaid depends on how much he earns, the amount and types of debt owed, and how much property he owns.  As a general rule, debtors must use all monthly disposable income to re-pay their debts.
Mayer was the president and a major shareholder of Rosinbomb.  Although not plant-touching, Rosinbomb derived most revenue from the manufacture and nationwide sale of extraction and processing equipment within the state-legal cannabis industry.  And all Mayer’s income came from Rosinbomb….
Unfortunately for Mayer, the Court found there was no credible evidence to support his claims that sufficient income could be generated from equipment sales to federally-lawful hemp and other non-cannabis customers and that the inheritance claimed by Mayer was speculative.  The Court dismissed the case, finding that Mayer’s only reliable source of income came from a business whose operations violate the CSA, since Rosinbomb’s business activities themselves amount to the sale of federally illegal cannabis paraphernalia under the CSA.”