News & Analysis as of

Marijuana Financial Services Industry

Ballard Spahr LLP

32 Attorneys General call for enactment of marijuana banking legislation

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Thirty-two attorneys general representing states, territories and Washington, D.C. are asking Congress to pass legislation to provide financial institutions a safe harbor if they provide services to marijuana-related...more

Fox Rothschild LLP

Thirty-two Attorneys General Press Congress to Finally Pass the SAFER Banking Act to Protect Cannabis Businesses and Communities

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The cannabis industry continues to face a fundamental challenge: access to the regulated banking system. Despite legalization (adult use and/or medical) in dozens of states, cannabis remains federally illegal, leaving...more

Seyfarth Shaw LLP

The Week in Weed: June 2025 #3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, hemp is on the agenda, both in Texas and in Congress. SAFER Banking, less so. And finally, it was so hot...more

Troutman Pepper Locke

Recent SEC AML Enforcement Actions’ Impact on Compliance Efforts in the Cannabis Sector

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Investing in the cannabis industry is not without its risks, given the evolving regulatory landscape and the varying state and federal statuses of the product itself. The Financial Crimes Enforcement Network (FinCEN) has...more

Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Harris Beach Murtha PLLC

NY Office of Cannabis Management Launches Banking Directory to Support Cannabis Businesses

The New York State Office of Cannabis Management (“OCM”) recently announced it has created a Cannabis Banking Directory (the “Directory”), which currently lists 10 financial institutions servicing cannabis businesses and open...more

Seyfarth Shaw LLP

The Week in Weed: January 2025 # 5

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, Senator Elizabeth Warren offers the Department of Government Efficiency a marijuana-related way to save...more

Seyfarth Shaw LLP

The Week in Weed: January 2025 # 4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we look at the new administration’s choice for interim DEA head. Florida may have cannabis on the ballot...more

Bradley Arant Boult Cummings LLP

Predictions: 2025 to Be a Very Big Year in Cannabis

It’s the first week of January, and you all know what that means in the blogging game: It’s time to make wild predictions about the coming year. As always, making predictions is hard, particularly when they’re about the...more

Seyfarth Shaw LLP

The Week in Weed: December 2024 #2

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we consider changing the name of this column to “The Broken Record Report,” as we provide updates on, you...more

Seyfarth Shaw LLP

The Week in Weed: October 2024 # 3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we have the latest development in the Arkansas ballot initiative saga. Delaware allows banks to work with...more

Seyfarth Shaw LLP

The Week in Weed: September 2024

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. First, we have an update on the Missouri rules dealing with intoxicating hemp products. Then, we see the...more

Kilpatrick

Proposed Rescheduling of Marijuana Under the Controlled Substances Act May Not Improve Industry Access to Financial Services

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Despite the proliferation of state laws that legalize the cultivation and sale of marijuana, federal law has remained an obstacle to access to the U.S. financial system for marijuana sellers and producers. With penalties...more

McCarter & English, LLP

DEA’s Plan to Reschedule Cannabis: Implications and Insights

Earlier this week, the Department of Justice proposed reclassifying cannabis from Schedule I to Schedule III under the Controlled Substances Act. The move follows an August 2023 recommendation from the Department of Health...more

Seyfarth Shaw LLP

The Week in Weed: May 2024

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. In what’s probably the biggest news in cannabis since Canada legalized, the Drug Enforcement Administration has...more

Vicente LLP

4 Major Implications of Cannabis Moving to Schedule III

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After 50 years of being on the most restrictive schedule alongside drugs like heroin and PCP, the DEA will move to reschedule marijuana in Schedule III, where the plant’s medical benefits will finally be recognized by the...more

Seyfarth Shaw LLP

The Week in Weed: April 2024

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, Virginia Governor Youngkin took action on the retail market bill. The Florida Supreme Court handed down...more

Seyfarth Shaw LLP

The Week in Weed: March 2024 # 3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we note that New York Governor Hochul has had just about enough of the problems with cannabis licensing in...more

Goodwin

Navigating the Hazy Landscape: Challenges and Solutions in Cannabis Payment Processing

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The sale of adult-use cannabis has been legalized in 24 states in the United States. But this does not mean there are no other legal impediments to the cannabis industry in those jurisdictions. For example, cannabis...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Banking from the Inside: An Interview with Salal Credit Union

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Due to current federal law, cannabis businesses notoriously cannot access financial institutions, even just for depository accounts. In 2014, the Financial Crimes Enforcement Network (FinCEN) released guidelines that opened...more

Seyfarth Shaw LLP

The Week in Weed: February 2024

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. We see some movement on setting up a retail market in Virginia. Senate Democrats would like to see less re-scheduling...more

Seyfarth Shaw LLP

The Week in Weed: January 2023 # 3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we turn our attention to Europe, where we have an update on the German legalization situation. Closer to...more

Troutman Pepper Locke

Navigating Cryptocurrency in the Marijuana Industry: Risks and Technological Solutions

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The marijuana industry has seen exponential growth over the past few years. However, the federal prohibition of marijuana poses significant challenges for businesses in this sector, in terms of payment processing and banking....more

Seyfarth Shaw LLP

The Year in Weed: 2023 Edition

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Welcome back to The Year In Weed, The Blunt Truth’s annual roundup of cannabis-related stories. As usual, I’ll adopt Dave Barry’s Year in Review (sadly, no longer available for free) format and look at stories month by...more

Skadden, Arps, Slate, Meagher & Flom LLP

FTC Enforcement Trends in Consumer Protection Under the Biden Administration

The Federal Trade Commission (FTC or the Commission) has continued aggressive regulation in the consumer protection space under the Biden administration. This persistent approach has occurred even in the face of recent...more

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