Cannabis business infrastructure
❗️The U.S. House of Representatives voted Wednesday to advance legislation that would allow banks to provide services to cannabis companies in states where it is legal. Currently, the industry is forced to conduct many transactions in cash because of its lack of access to the banking system. As per Bloomberg, it won’t be long before U.S. stock exchanges open up to cannabis listings, a potential blow to Canadian bourses that have carved a lucrative niche for pot.
🇺🇸In a few months recreational cannabis will be legal in Illinois, and the local government has released maps that designate areas they are considering «disproportionately impacted areas». The effort is part of the administration’s commitment to ensure communities that have been historically impacted by cannabis prohibition will not be excluded once marijuana is legal.
🇦🇬The boxing legend Mike Tyson revealed plans to set up cannabis farm on Caribbean island to help boost tourism in Antigua and Barbuda, also planning to launch annual conference that will become «Davos of cannabis».
🇦🇺Australian Capital Territory voted to legalise cannabis for personal use. The territory will become first jurisdiction in Australia to legalise possession of up to 50 grams of marijuana and two plants.
Head of Analytics at Stobox