California appears to be on the brink of creating what State Treasurer Fiona Ma calls “a partial and temporary cash management solution,” for cannabis businesses.
- The Bill would authorize the state to license “cannabis depository institutions” They could accept deposits, and issue and redeem special purpose checks, which account holders could use to pay fees and taxes as well as rent and vendors.
- ????WW California has more!
- In the New York Times, conservative writer Christopher Caldwell suggests cannabis banking would lead to a “Microsoft of Marijuana.” He’s not wild about the idea.
- L.A. opened a long awaited licensing period for equity retailers. ????WW California has more!
- California vape company dosist is #2 on LinkedIn’s 50 top U.S. start-ups. It has about 200 employees and “has hired more than 100 employees over the past year, attracting top talent from the likes of Apple and Tesla.” Yahoo Finance explains why dosist made the cut.