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Cannabis News from around the world

DENVER — Colorado's marijuana businesses have a cash flow problem: Too much cash is flowing in and they've nowhere to put it.

Most banks refuse to work with marijuana businesses, which are legal in Colorado but remain illegal at the federal level. Now, a new credit union aimed specifically toward the cannabis industry hopes to offer a solution.

The Fourth Corner Credit Union hopes to open its doors within weeks in Denver, offering to accept cash deposits and to permit members to make electronic transfers for payroll and rent, and to buy supplies.

Michigan Court Overturns Medical Marijuana Conviction Because of Prosecutor’s Closing Rant

Last month, a Michigan Court of Appeals overturned the conviction of a man charged with cultivating marijuana for medical purposes. During the original trial, the prosecutor used her closing arguments to viciously criticize Michigan’s medical marijuana program.

Legalization of Marijuana: What about the Kids?

Last month Oregon, Alaska, and the District of Columbia joined Colorado and Washington as voters approved initiatives to legalize marijuana. Other states, including California, are likely to follow in 2016.

Voters passed these initiatives not as an endorsement of marijuana per se, but as an effort to undo the damage done by its criminalization: out-of-control youth access, massive numbers of arrests, and the crime, corruption and violence that comes with a multi-billion dollar illicit market.  Tax revenues derived from sales, meanwhile, can provide local and state governments with badly needed funds for education and other critical services.

Washington D.C. Takes Major Step Toward Taxing and Regulating Marijuana

D.C. lawmakers voted today (11/25/2014) in favor of legislation that would legally regulate and license the production, distribution and sale of marijuana in the District of Columbia during a meeting of the Committee on Business, Consumer and Regulatory Affairs, which is chaired by D.C. Councilmember Vincent Orange (D-At Large).

Today’s action by D.C. lawmakers on a tax and regulate bill comes just three weeks after nearly 70 percent of voters in the District of Columbia approved Initiative 71, a ballot initiative that legalizes possession of up to two ounces of marijuana for adults over the age of 21 and allows individuals to grow up to six marijuana plants in their home. However, due to D.C. law, the initiative was not allowed to address the taxation and regulation of marijuana sales.

TED Talks: Ethan Nadelmann on the Drug War

Twenty years ago, Ethan Nadelmann left his teaching position at Princeton University to become a full-time advocate for ending the drug war. As the founding executive director of the Drug Policy Alliance (DPA), the largest and most influential organization promoting drug policies grounded in science, compassion, health and human rights, Ethan’s vision and leadership have had a monumental impact on public opinion and changed the course of history.

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