Marijuana Regulation

Cash only for marijuana businesses after credit union backs away

Keith Seinfeld — Tue, 21 May 2013 23:41:19 +0000

Verity Credit Union has backed away from helping marijuana businesses open checking accounts. The move is a major setback for pot businesses as the Seattle credit union had been the only financial institution in the state openly providing banking to those shops.

Local credit union tries on being banker to the pot industry

Keith Seinfeld — Fri, 12 Apr 2013 13:27:50 +0000

Federal law prohibits banks from helping drug dealers. So where do marijuana businesses keep their cash?

“We would put the cash in the safe on premises, which obviously makes you nervous. You have to leave it there overnight,” said Cale Burkhart, who sells cannabis-infused lotions. His shop closed last year, but he’s still selling a line called Vita Verde.

Feds: Still no decision on Washington marijuana laws

The Associated Press — Wed, 06 Mar 2013 21:36:25 +0000

Attorney General Eric Holder says the Obama administration still hasn't decided on how the federal government will respond to the new legal-marijuana laws passed by voters in Washington and Colorado.

Holder appeared Wednesday before the Senate Judiciary Committee and was asked about the issue by Democratic Sen. Patrick Leahy of Vermont.

The attorney general reiterated what he has said recently — that a policy decision will be announced "relatively soon." He also said he's had good conversations with elected leaders from Washington and Colorado.

Pressure mounts on Feds to intervene in Wash., Colo. pot laws

Austin Jenkins — Wed, 06 Mar 2013 17:17:08 +0000

OLYMPIA, Wash. – U.S. Attorney General Eric Holder is scheduled to testify on Capitol Hill Wednesday. He will likely get questions about Washington and Colorado’s new marijuana laws. Pressure is mounting on the Obama administration to block the pot legalization measures.

The new push for federal invention comes from a United Nations-based drug agency and nine former DEA chiefs.

Yakima marijuana hearing draws entrepreneurs, advocates, moms

Anna King — Fri, 01 Mar 2013 20:10:00 +0000

YAKIMA, Wash. – Marijuana advocates, people concerned about the effects of drugs on children and hopeful entrepreneurs filled a huge room at the Yakima Convention Center Thursday night. This hearing is part of a series across Washington on how to implement voter-approved marijuana legalization.

Washington 'potrepreneurs' plan to start locally, expand nationally

Austin Jenkins — Mon, 25 Feb 2013 19:09:56 +0000

You could say pot-related start-ups are baking it into their business plans: the expectation that in the not too distant future marijuana will be legal and accepted in all fifty states. Take Jamen Shively, founder of Diego Pellicer fine marijuana.

Jamen Shively: “So we are in beautiful downtown Seattle and we are standing outside of the Brooks Brothers retailer.”

Washington marijuana legalization draws Yale MBAs with big ideas

Austin Jenkins — Mon, 25 Feb 2013 18:30:20 +0000

SEATTLE, Wash. – As Washington moves to legalize marijuana, pot entrepreneurs are lobbying in public forums and behind the scenes. These business interests want to shape the new marijuana marketplace. Among them, a Seattle-based private equity firm called Privateer Holdings.

Inslee sends letter detailing Washington's legal pot plan

The Associated Press — Thu, 14 Feb 2013 21:23:16 +0000

Washington state Gov. Jay Inslee sent U.S. Attorney General Eric Holder a letter this week detailing the efforts the state is taking as it moves forward with creating rules for a voter-approved legal market for marijuana.

Inslee wrote the "the world is watching" both Colorado and Washington as the two states implement last fall's votes that approved the recreational use of marijuana.

Should it matter how much marijuana is in your blood?

Keith Seinfeld — Thu, 07 Feb 2013 01:57:03 +0000

It’s always been illegal to drive stoned. But, what that means has changed under Washington’s new marijuana law.

Initiative-502 includes a strict definition of "under the influence" – which some people say is misguided.

Federal lawmakers quietly working to change U.S. pot laws

The Associated Press — Mon, 04 Feb 2013 19:45:03 +0000

From legalizing the industrial production of hemp to establishing a federal tax, an effort is building in Congress to change U.S. marijuana laws.

'Grey' market concerns grow as Washington legalizes pot

Austin Jenkins — Fri, 01 Feb 2013 22:32:50 +0000

As Washington moves to legalize marijuana, there are fresh concerns that a parallel market for pot will continue to flourish. It’s not quite a black market. Let’s call it a “grey” market – for medical marijuana. The question now: how will highly taxed and regulated pot compete with largely unregulated medical marijuana?

Green Solution is a medical marijuana dispensary southeast of Tacoma. The first thing you notice is the reflective blackout film on the doors and windows.

Green thumb? Washington state looks for pot consultant

The Associated Press — Wed, 30 Jan 2013 19:09:58 +0000

Wanted: A green thumb with extensive knowledge of the black, or at least gray, market.

As Washington state tries to figure out how to regulate its newly legal marijuana, officials are hiring an adviser on all things weed: how it's best grown, tested, labeled, and cooked into brownies.