Category Archives: Marijuana Industry

Texas Marijuana Legalization Getting Many Votes

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Medical marijuana use has been a touchy subject for many years now. With many states moving forward with legalization, but federal laws remaining strict, it’s difficult to know where cannabis use stands these days.

medical marijuana payment processingThe “Christian Case” has been making headlines across the nation. The infamous Texas bill is attempting to legalize marijuana for religious purposes. As a surprise to many, it’s actually getting a lot of votes and is moving forward much more than expected.

Texan Marijuana Rights Changing

Texas has long been against all use of marijuana, be it for recreational or medicinal purposes. However, with this new bill having received three democratic votes and two republican votes in House Criminal Jurisprudence Committee, it’s now going to Calendars Committee before ultimately reaching House Committee.

It’s a huge step forward in the legalization of marijuana in the state of Texas. With marijuana business funding be more and more accessible, we had to see it coming. However, nobody would have expected this bill to make it this far.

What the Bill Proposes

The bill itself is a major step. It’s seeking full legalization and decriminalization on religious grounds. Although the bill clearly states that marijuana would remain illegal for minors, parents would have the ultimate decision about where marijuana belongs in their household.

This bill would ultimately place marijuana on a similar standing as alcohol and tobacco.

Religion and Marijuana Use

This entire bill is based around marijuana being a creation of God. Reverends and pastors across the state are coming forward, stating that marijuana use should be a decision that individuals make, not the government. Although not all religious representatives are for marijuana use, many of them still believe that it was put on Earth for a reason and it should be legalized.

While most people thought marijuana would be legalized for medical purposes, it may in fact be spirituality that acts as the stepping-stone to legalizing marijuana in the 21st century. Although the bill still has a long way to go before being official, it’s no longer an unrealistic expectation.

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What Presidential Candidates Really Think About Medical Marijuana

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Clinton-2016-tattoo-595x1056The medical marijuana industry has been a debate for many over the course of the past couple decades. With the 2016 presidential elections coming up, many people have been wondering what each candidate truly thinks about medical use of cannabis.

Marijuana Merchant Processing and other medical marijuana merchant processors are making it easier for cannabis dispensaries to accept payments, thus growing this industry at a rapid pace. Presidential candidates no longer have a choice; they need to have an opinion on the issue at hand.

We have divided the candidates into two groups: those who are for legalizing medical marijuana and those against.

Presidential Candidates for Marijuana Use

There are currently three presidential candidates that have demonstrated interest in moving forward with the full legalization of medical marijuana. Rand Paul, Hillary Clinton and Bernie Sanders have all said positive things about marijuana use and its medical values.

Bernie Sanders has voted in favor of a bill that prevents the Department of Justice from interfering with state medical marijuana laws. He also mentioned that medical cannabis legalization is not a priority of his, but he will definitely look into it.

Hillary Clinton believes that there hasn’t been enough research done in terms of marijuana’s medical values and she would like to move forward with such procedures. Although recreational use is not in the near future, she definitely wants to look into the medical benefits that marijuana can deliver.

Rand Paul is one of the only candidates that is all for medical marijuana legalization. He is the original sponsor of a bill that would end federal war on medical cannabis use. Although he does not promote use of the drug, he believes that it can bring a lot of good to the medical industry.

Presidential Candidates Against Marijuana Use

There are five candidates that have demonstrated absolutely no interest in legalizing and decriminalizing medical marijuana. Ben Carson, Mike Huckabee, Ted Cruz, Carly Florina and Marco Rubio are all against legalization.

Ben Carson says it should be completely off the table. Although the retired neurosurgeon believes it has its benefits, he also believes that it’s a gateway drug that can lead to much more serious issues.

Mike Huckabee is a former Baptist pastor that is completely against the legalization of marijuana for medicinal purposes. He even mentions that he would not prevent the DEA from raiding patients in states where medical cannabis use is legal.

Ted Cruz doesn’t believe in the legalization of marijuana use. He has displayed a lot of efforts to continue criminalizing patients that use marijuana even in states where it is legal.

Carly Florina is not entirely against the use of medical marijuana, but she does not plan on ending the prohibition. Although Florina wants to allow states to move forward with their own laws, she doesn’t believe in decriminalizing it.

Marco Rubio is against decriminalizing marijuana use and believes that legalizing it would be adding another substance abuse problem to this country. Although he refuses to move forward with medical marijuana legalization at the moment, he did mention that he may reconsider it in the future.

For Marijuana Merchant Processing and other payment options besides cash, contact us today!

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Congress Shows Little Interest in the Marijuana Industry’s Banking Problems

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Washington DC Capitol detail on cloudy skyDespite the pleas from marijuana businesses and medical marijuana users, Congress has revealed that it has no intentions of resolving and addressing the issue of legalizing marijuana any time soon. While nearly half of the states have one small victories in legalizing marijuana, it is still illegal on the federal level.

Congress has shown little interest in dealing with the conflict that continues between federal and state laws. The problem is that it has caused and continues to be an issue for the marijuana industry to find the banking solutions that they so badly need in order to operate.

This banking crisis has left business owners all over the country with no way to deposit their profits and to find payment processing solutions. In addition, those who wish to start a business in the industry are left with the difficult or impossible task of securing a small business loan via traditional lending sources.

In an effort to find a solution to the problem, a credit union was created in Colorado just for the marijuana industry. However, the only way this credit union can officially open its doors is through the approval of the nation’s top financial policymakers.

U.S. Rep. Scott Tipton recently stated in an interview that it is unlikely that the Federal Reserve will act anytime soon concerning this request by the marijuana-only Fourth Corner Credit Union for the direct access of the nation’s banking system. He did acknowledge the fact that he has been told privately by several bankers that they would like to be able to work with businesses that are legally growing and selling marijuana in Colorado; however, they fear being accused of money laundering in the eyes of federal law.

While Congress recognizes the need to bridge this gap that lies between state and federal law, no solution is expected anytime soon. In the meantime, Sens. Kirsten Gillibrand, D-N.Y., Cory Booker, D-N.Y. and Rand Paul, R-Ky., have introduced a bill that would ultimately end the federal prohibition of medical marijuana; thus, making it must easier for banks to work with medical marijuana businesses.

While things are still sorting themselves out, the marijuana industry has found other solutions to their funding and payment processing needs. Alternative lending providers that specialize in working with businesses considered “high risk” by traditional lenders have stepped up to the plate. They not only offer merchant cash advances that are better suited to the industry’s funding needs (in addition to being faster and more hassle-free), but they also offer safe and efficient payment processing solutions. Many marijuana businesses are finding their needs met by marijuana payment processing.

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Recreational Marijuana Has Taken Over Medical in Colorado

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The marijuana state, Colorado stampWhile many states are just now hopping on the medical marijuana wagon, the sales in Colorado are beginning to increase for recreational marijuana. Medical marijuana sales in Colorado actually fell during 2014. The number of medical cardholders also fell; these medical users have begun to purchase through recreational instead.

According to an article by Susan Scutti of Medical Daily, “Looking at the current trend line, the research and advisory firm predicts the average patient count will continue to decline – from approximately 114,000 in 2014 to 99,000 by 2020 – while the number of recreational users grows”.

Despite the legalization of marijuana in the state of Colorado, many remain hesitant and reluctant due to the substance still being illegal on the federal level. Colorado has not full embraced the legalized drug, medically or recreationally. Even though the tax revenues are tempting, most jurisdictions in the state will not allow marijuana sales – of any kind.

In addition, people are avoiding registering for a pot card. The illegal status of marijuana on the federal level is keeping people afraid that doing so will lead to feds busting down their doors. As a result of this fear, people have become willing to pay extra to be invisible.

Business continues to be difficult for those in this industry for the same reason that it is hard for its customers – the illegal status on the federal level. Marijuana has been and continues to be classified as a Schedule I drug; this means, according to federal law, marijuana has “no accepted medical use”.

Because of this, banks remain unwilling to allow dispensaries to deposit their profits with them. Acquiring business funding is also difficult, if not impossible. While legalization in the state of Colorado may be established, the reality and practice of it is a completely different story.

Many marijuana businesses have turned to medical marijuana payment processing. As states continue to legalize medical and recreational marijuana, providers that offer these specialized services are working to fill the gap that businesses need as the states continue to work through the process of acceptance that follows legalization.

For Marijuana payment processing solutions contact us today!

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President Obama Sees the Political Advantages of Cannabis

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medical marijuana payment processingPresident Barack Obama has recently been opening up on the topic of cannabis and its benefits. Many are viewing this move as political. At the beginning of April 2015, Obama traveled to Jamaica for a conference of Caribbean nations before heading to a summit in Panama.

Jamaica is known as a pot-friendly culture, even though marijuana possession and use was illegal up until this past February. The new law allows possession of up to 2 ounces, legalizes it for religious use and the cultivation of a small number of plants. The general feeling is that this new law will make way for even more rules to be implemented for the medical use of marijuana.

For decades, the Jamaican parliament has wanted to begin an effort in the United Nations to begin a study of amending international treaties that would ultimately lead to a drug reclassification of the substance. However, no move has ever been made to do so out of fear that the United States would halt any attempts.

With the general view on marijuana changing in the United States, Jamaican officials are beginning to show interest in returning to this effort. Americans have become more and more accepting of marijuana for both medical purposes as well as recreational.

According to “Bloomberg Politics” writer, Margaret Talev,  “The Gallup Poll found that tipping point in October 2013, when 58 percent of Americans said they favor legalization, up from 50 percent in 2011, 31 percent in 2001 and just 12 percent in 1969”.

Americans’ view on marijuana is not the only thing that is changing. The change in attitude is also allowing the U.S. an opportunity to feel comfortable enough to re-examine certain laws. These changes, coupled with the fact that President Obama has commuted 22 drug offenders and a life sentence for conspiracy to grow and distribute thousands of marijuana plants this month, has begun to set the political stage for the 2016 elections.

Nearly half of the states have legalized medical marijuana, with four states and the nation’s capital going as far as legalizing recreational use for adults. Nine or more states have adult use on the ballot for 2016, and Republican presidential hopeful, Senator Rand Paul, is backing bipartisan legislation that would remove the threat of federal prosecution of medical marijuana in the states that have already legalized the substance.

Regardless of these changes, traditional lending sources remain hesitant to offer their services to those involved in this industry since marijuana is still illegal on the federal level. For now, businesses are continuing to seek medical marijuana payment processing. Fortunately, these providers specialize in working with “high risk” industries – like the marijuana industry – and have no scruples with continuing to offer their services.

To accept other payments than cash at your dispensary, contact MMA today!

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Majority of Voters in Swing States Are in Favor of Legalization

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Marijuana American FlagRecently, attention has been on the swing states, Florida, Ohio and Pennsylvania. It was not anticipated that these states would be the next to campaign for the legalization of marijuana, but voters have revealed in a recent poll that they do indeed support it. In fact, the majority of voters in these three states support permitting adults to possess marijuana legally.

According to survey data published by Quinnipiac University on April 6, 2015, 55% to 42% of Florida voters support allowing adults to possess marijuana in small quantities for the purpose of personal use. In addition, 52% to 44% supported this legalization in Ohio. In Pennsylvania, 51% of voters revealed that they supported this legalization while 45% oppose it.

Voters in the swing states did not just reveal their sentiment in favor of legalizing the recreational use of marijuana. Voters also seem to favor making marijuana available for therapeutic purposes, allowing doctors the ability to recommend cannabis therapy.

According to the poll, 84% to 14% of voters in Florida are in favor of making the plant’s availability for therapeutic purpose legal. In addition, the vote in favor was 84% to 15% in Ohio and 88% to 10% in Pennsylvania.

Despite these votes in favor of both the legalization of medical and recreational marijuana, lawmakers have yet to hold any hearings on either the legislation seeking to regulate marijuana use and retail sale or the legislation to permit regulatory access to medical cannabis. Both pieces of legislation are pending in Florida and Pennsylvania.

For businesses in this industry, the legalization of marijuana couldn’t come fast enough. Those in the industry operating in states where it has been legalized are still encountering issues with securing funding. Why? Regardless of the legalization in some states, marijuana is still illegal at the federal level.

Because of this, traditional lending sources are reluctant to provide their services. This hole has been filled thanks to alternative funding options. Marijuana payment solutions has become the option of choice for many marijuana business owners. Marijuana-merchant-account.com, for example, has been helping medical marijuana dispensaries with payment processing for almost ten years.

If this has been a problem for your business or you are considering starting a business, take time to consider what marijuana payment solutions could offer your business or startup. The application process is simple, fast and hassle-free. And unlike traditional lending sources, you will not experience a pile of endless paperwork and a long wait period to receive your funds.

Need Marijuana Payment Solutions, contact us today!

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The U.S. Legalization of Marijuana Proves to be Affecting Mexican Cartel

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??????????????????????????????????????????????????????????????????????????Much has been said about the battle for legalization of marijuana in the states, but how is this legalization process affecting the illegal scene? According to recent reports, the U.S. legalization of marijuana has really begun to cut into the Mexican Cartels’ smuggling of the substance. U.S. Border Patrol Agents stationed along the 2,000 mile-U.S. border have not seen nearly the amount of marijuana that has been confiscated in previous years, though the smuggling of other kinds of drugs is increasing.

The quantities of marijuana confiscated by the U.S. Border Patrol continues to steadily fall. In 2011, 2.5 million pounds of the drug were seized. In 2014, this amount decreased to 1.9 million. While agents are working hard to keep the border safe, the drop in seizures seems to be from more than just law enforcements’ efforts.

The wave of U.S. marijuana legalization seems to be the big reason for the hit to the Mexican Cartels’ trade. In 2012, both Colorado and Washington State legalized marijuana. Alaska, Oregon and D.C. followed shortly. The U.S. growers have begun to build a budding industry. These gourmet products have even been given exotic names; such as, White Widow, Oaktown Crippler and Golden Goat.

Drug policy reformers have used this as support, saying that the care taken by American dispensaries in labeling their drugs based on how strong they are plus the market shift away from Mexican gangsters demonstrates that people are willing to buy the product from a legal tax-paying business.

As the marijuana industry continues to grow at a pace that has made it the fastest growing sector of the U.S. economy, analysts are trying to determine what the long-term effect on the Mexican cartel finances and violence will be. It will hopefully mean less cash for the cartel to buy weapons and bribe police. In addition, there will hopefully be a continued decline in murders in Mexico.

Even with the industry booming in the U.S. where it has been legalized, the fact that marijuana is still illegal on the federal level means securing business funding from traditional lending sources will continue to be difficult, if not impossible. When some marijuana businesses have encountered this issue, they have turned to alternative funding. Marijuana payment processing has become a great option for business that need a provider willing to work with their “high risk” categorization while also providing them with a fast, simple and hassle-free experience.

For Marijuana Payment Processing, apply today!

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How the CARERS Act can Protect the Needs of Medical Marijuana Patients

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imagesDespite the continued legalization of medical marijuana on the state level, the substance is still very much illegal on the federal level. This is not only making it difficult for entrepreneurs who wish to open dispensaries, but it also makes it difficult if not impossible for those who need it for a medical condition(s). Many with medical needs are left with two choices: move to another state where medical marijuana is legal or obtain the substance illegally and face being arrested.

On the federal level, marijuana is classified as a Schedule I substance. According to the DEA, there are five distinct categories or schedules used to classify a drug, substance and certain chemicals depending on its acceptability for medical use and its potential for abuse and dependency. Schedule I drugs are considered to be the most dangerous, with a high potential for abuse and severe psychological and/or abuse potential.

Marijuana has been listed as a Schedule I drug along with heroin, LSD and ecstasy, to name a few; thus, it has been listed as a drug with the highest potential for abuse and no acceptable medical use. For many people with medical conditions, this is a big disappointment and a daily struggle.

Kate Hintz, a writer for change.org, recently shared the story of four-year-old Morgan. Morgan suffers from Dravet Syndrome, a rare form of epilepsy that causes her to have dangerous seizures. The longest she has gone without suffering from one of these seizures is four weeks. The long list of medications she takes have given her kidney stones, ulcerative colitis and compromised her respiratory system.

Research and advice from doctors has persuaded Morgan’s family that cannabidiol oil – a form of medical marijuana – might be her best option. And it would mean fewer side effects for the little girl. It would not make her “high”, and she would not have to smoke it. However, the family cannot legally obtain medical marijuana at this time because of where they live and because the substance is still illegal on the federal level.

For now, the family is supporting the Compassionate Access, Research Expansion and Respect States (CARERS) Act. This bipartisan bill would allow states to legalize medical marijuana without federal interference. In addition, it would reclassify marijuana as a Schedule II drug; thus, affirming that marijuana does indeed have medical benefits.

For those involved in medical marijuana from a business standpoint, the federal classification of the drug means that finding funding is difficult if not impossible. Fortunately, there are alternative funding options out there that specialize in offering services to this industry. Marijuana payment processing, for example, may be the safe and efficient option your business has been looking for.

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Medical Marijuana Dispensaries find themselves Caught between Conflicting Laws

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Marijuana Business FundingHundreds of individuals have found themselves in the middle of legal conflicts over medical marijuana, even though they completed all of the required legal steps to open a dispensary. It would seem that the concerns over the differences in state versus federal law are beginning to materialize.

The main source of this conflict is coming from a little-publicized amendment to the 2015 appropriations bill. Referred to as a “buried land mine”, Congress barred the Justice Department from spending any money to prevent states from implementing their own state laws that either authorize the possession, use, cultivation or distribution of medical marijuana.

The Justice Department, however, is adamant that the amendment does not undercut its power to enforce federal drug law. On the federal level, marijuana is still listed as a Schedule 1 substance along with Heroin, LSD, Ecstasy and Bath Salts, to name a few.

In addition, The Justice Department claims that the amendment only bars federal agencies from interfering with state efforts to carry out medical marijuana laws. They have also claimed that it does not preclude criminal prosecutions for violations of the Controlled Substances Act.

This “wild card” has led to many surprises in several cases in both California and Washington State. All of this contradiction and conflict has led to new challenges in the journey of legalizing medical marijuana. It also leaves federal judges with no choice but to have to give their opinion – and soon.

As things continue to heat up over state vs. federal input on legalized marijuana, the need to have every “I” dotted and every “T” crossed will be even more important. This is especially true considering that the defendants in these cases made sure to have all of the legal steps required by their state to be taken care of, but still ended up in hot water with federal law.

When searching for means of funding, for example, traditional lending sources are going to be more reluctant than ever to provide their services to anyone involved in this industry. Fortunately, alternative funding options like securing marijuana business funding with marijuana-merchant-account.com means that you will not only have a safe and efficient solution, but you will also be working with a provider that specializes in offering solutions to the medical marijuana industry.

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