MMJ Business Daily

Establishing cannabis industry standards: Q&A with NACB President Andrew Kline

By Bart Schaneman

A new self-regulatory organization aims to tackle a problem plaguing the cannabis industry: a lack of industrywide standards governing areas such as packaging, accounting and public safety.

It also hopes to play a role in resolving another issue: federal government interference.

“Our hope is that if our members can set standards that are higher than what they’re required to do in their states, the federal government will stay out of their way,” said Andrew Kline, president of the National Association of Cannabis Businesses (NACB), a membership group that launched last month.

NACB is

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Establishing cannabis industry standards: Q&A with NACB President Andrew Kline is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Greece legalizes marijuana for medical purposes

The Greek government has agreed to make cannabis available for medicinal purposes, joining a growing number of European countries that have legalized medical marijuana.

“From now on, the country is turning its page, as Greece is now included in countries where the delivery of medical cannabis to patients in need is legal,” Prime Minister Alexis Tsipras told a press conference, according to the Greek Government Gazette.

It’s not yet clear how medical marijuana will be grown and cultivated, Britain’s Independent newspaper reported. According to Neos Kosmos, the government will be in a position to award

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Greece legalizes marijuana for medical purposes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Delaware task force will study adult-use cannabis legalization

Delaware’s General Assembly has passed a resolution creating an Adult Use Cannabis Task Force to study “a model for regulation and taxation” of a legalized recreational marijuana program in the state.

The resolution, approved Saturday, directs the group to study specifics such as taxes, banking issues, local authority and control, packaging and labeling requirements and consumer safety, WMDT reported. The group will report on its findings to the assembly and governor.

The panel’s inaugural meeting must be no later than Sept. 7, 2017, and its report is due by Aug. 31, 2018, according to the TV station.

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Delaware task force will study adult-use cannabis legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Vermont looks to add fifth medical marijuana dispensary

Vermont is seeking to add a fifth medical marijuana dispensary, following through on a new law that expanded the state’s MMJ program.

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Vermont looks to add fifth medical marijuana dispensary is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A banner day as Nevada begins recreational marijuana sales

By Bart Schaneman

Nevada recreational marijuana sales began with a bang this past weekend, with store owners reporting that sales far outpaced those of medical cannabis as the state became the fifth in the nation to offer adult-use products.

After the doors opened at 12:01 am Saturday, dispensary owners reported, hundreds of customers flooded their stores each of the first two days of sales, with shoppers snapping up edibles, flower and vape pens.

Residents, tourists and even shoppers from neighboring Utah participated in the buying spree, taking advantage of an early start to Nevada’s adult-use cannabis program. One dispensary

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A banner day as Nevada begins recreational marijuana sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana Business Daily to resume publishing Wednesday

Marijuana Business Daily is closed for the Fourth of July and will resume publishing Wednesday.

Marijuana Business Daily to resume publishing Wednesday is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MA talks on recreational cannabis compromise to resume Wednesday

A group of Massachusetts lawmakers seeking to hammer out a compromise over the state’s recreational marijuana law plan to resume negotiations Wednesday.

The six-member panel of House and Senate negotiators failed to meet a self-imposed deadline Friday to get a final bill to Republican Gov. Charlie Baker’s desk.

Democratic Rep. Mark Cusack, the chief House negotiator, said he is “hopeful” for an agreement. A spokeswoman for the Senate’s lead negotiator, Democrat Patricia Jehlen, said the conferees “are making good progress.” However, neither side offered a timetable for when the talks might conclude.

While lawmakers from both chambers had called for

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MA talks on recreational cannabis compromise to resume Wednesday is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Montana releases temporary medical marijuana rules

The Montana health department has issued temporary emergency rules for the state’s medical marijuana program.

Parts of the program took effect Friday as state regulators develop permanent regulations, which must be in place by April 30, 2018, the Billings Gazette reported.

The emergency rules, which expire in late October, include clarifications on how the Montana Department of Public Health and Human Services will regulate marijuana testing laboratories and cannabis concentrates manufacturers during the transition period.

The emergency rules include allowing the health department to issue licenses to marijuana testing facilities on a temporary, case-by-case basis. This is

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Montana releases temporary medical marijuana rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart: Fears may be overblown about impact of proposed tax hike on Massachusetts rec cannabis sales

By Eli McVey

As Massachusetts lawmakers debate a compromise to the adult-use marijuana law voters passed last November, industry observers are concerned the proposed bill – and a potential doubling of the tax rate on recreational cannabis – may weaken consumer demand for legal MJ and in turn bolster the state’s black market.

But data from existing adult-use states suggests such fears may be overblown. Moreover, it appears a tax increase would actually align Massachusetts with other U.S. adult-use markets.

Marijuana Business Daily conducted an analysis of Massachusetts’ effective tax rate, including all applicable wholesale, excise and state-level sales tariffs

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Chart: Fears may be overblown about impact of proposed tax hike on Massachusetts rec cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Denver social cannabis clubs on verge of opening

The nation’s first licensed marijuana clubs likely will roll out in Denver in a few months after regulators finalized rules governing the pilot program.

Under the regulations released Friday, clubs can’t open without neighborhood approval, nor can they allow indoor smoking or onsite cannabis sales.

The final rules also don’t require patrons to sign waivers stating they are responsible for their own actions and are abiding by state law, the Denver Post reported.

Businesses may begin submitting applications by the end of August for licenses to create areas where customers can consume their own cannabis or for one-time

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Denver social cannabis clubs on verge of opening is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs