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Oregon House Approves Marijuana Banking Reform Bill

Category: News | Posted on Tue, February, 16th 2016 by THCFinder

banking marijuana industry bankPassing the House of Representatives with a vote of 56-3, House Bill 4094, which seeks to remove the criminal liability from state law to allow banks and credit unions to bank with, and lend to, lawful marijuana businesses, is now headed to the Senate for adoption.

“This is an important first step in reducing risk and providing security for banks, credit unions, and the public” said Tobias Read, the sponsor of the bill in the House. “Without a clear timeline from the federal government, the state needs a solution, even if it’s temporary.”

Currently, a tangle of federal laws are preventing legal marijuana businesses from accessing banking services, which shoulders them with a significant cash burden. Besides holding harmless those financial institutions that do business with the legal cannabis industry, the bill also instructs the Department of Consumer and Business Services (DCBS), an agency already responsible for communicating with the new industry in Oregon, to look into the state’s options for the future.

“The need for baking reforms is nothing new to the cannabis industry,” said New Economy Consulting’s Sam Chapman. “However, now that a state agency has been tasked with the collection of cannabis tax revenue, the regulators, the state, and the industry are all in the same boat. This fact should send a clear message to Congress to accelerate their work on reforming banking laws at the federal level.”

Read More:http://www.theweedblog.com/oregon-house-approves-marijuana-banking-reform-bill/


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Illegal Pot Grower Avoids Prison Because His Plants Were Too Puny

Category: News | Posted on Tue, February, 16th 2016 by THCFinder

Pointing out the defendants “incompetence” for growing marijuana, a British judge has decided not to send a young U.K. man to prison because the pot crop he was caught with was too much of an embarrassment to even consider punishing him to the fullest extent of the law.

It seems that 20-year-old Joshua Hughes had the brilliant idea of utilizing an inexpensive home cultivation kit to produce enough weed to feed his habit of smoking in upwards of 20 joints a day. Of course, his plan, at its most basic level, was a fiscally sound move for any hardcore cannabis enthusiasts whose lust for the leaf has begun to manifest dessert sands in the ol’ bank account.

However, what the young man failed to consider is that while his scheme had the potential to save him a substantial amount of money in the long run, there was a learning curve that could leave him dangerously exposed if he didn’t properly cover his tracks – and he most certainly didn’t.

Read More:http://www.hightimes.com/read/illegal-pot-grower-avoids-prison-because-his-plants-were-too-puny


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Hungry?

Category: Fun | Posted on Mon, February, 15th 2016 by THCFinder


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Why Is Facebook Taking Down Marijuana Dispensary Pages?

Category: Odd | Posted on Mon, February, 15th 2016 by THCFinder

Marijuana is legal in some capacity in 23 states and the District of Columbia, but Facebook doesn't seem to "like" it very much these days.

Over the past two weeks, the social media giant has reportedly been shutting down the Facebook pages of state-legal cannabis businesses across the country. While the total number of marijuana business pages that have been disabled is unclear, NBC News has confirmed at least a dozen businesses in six states that have experienced shutdowns.

From medical marijuana dispensaries in New Jersey, Arizona and Nevada to recreational shops in Oregon, Colorado and Washington state, Facebook is going after legitimate cannabis businesses for what it claims are violations of the social network's "Community Standards."

Read More:http://www.nbcnews.com/tech/tech-news/why-facebook-taking-down-marijuana-dispensary-pages-n514976


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