as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services that other businesses take for granted.
The U.S. Drug Enforcement Administration's plan would move marijuana from its current classification as a Schedule I drug, alongside heroin and LSD, to a Schedule III drug, alongside ketamine and some anabolic steroids.
“Cannabis is still an emerging market with a lot of credit risk,” Hill added. Even with rescheduling “cannabis companies should expect that banking services will still be expensive.” Adam Goers, senior vice president of multistate operator The Cannabist Company, who chairs the industry group Coalition for Cannabis Scheduling Reform, called the administration's proposal a historic step that would open the way for research and much-needed tax changes that would benefit operators.
Fox 2During an interview that touched on immigration at the U.S.-Mexico border, a Detroit news anchor challenged Donald Trump to support his claim about rapidly falling crime in Venezuela—which fact-checkers have previously noted is false.
OTTAWA — Finance Minister Chrystia Freeland intends to ask Parliament to approve proposed changes to capital gains tax rates in a stand-alone bill, which will force the federal Conservatives to take a position on the measure. The most controversial announcement from her recent federal budget is not included in the motion she tabled Tuesday to introduce budget legislation in the House of Commons.
Source: News Formal (newsformal.com)
Cannabis Industry Banking Services Controlled Drug Financial Services American Bankers Association Longstanding Problem
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