Avantpay|19 - the intersection of Payments | Cannabis | Cryptocurrency
Posted at 3/31/2019
Hi everyone, just joined here! We at Avantpay are hosting a conference (www.avantpay.io) in Washington DC, Sept 30 - Oct 1, 2019 and are looking for speakers who are experts in payments, cannabis, & cryptocurrency. Please check us out and let me know if you are interested in participating in some way (speak/attend/sponsor). Expecting 500+. Thanks!
Joshua M. Radbod
...moreTreasurer Chiang Releases Recommendations to Address Lack of Banking for Cannabis Industry
PR17:59
Nov. 7, 2017
Contact: Marc Lifsher
news@sto.ca.gov
916-653-2995
SACRAMENTO – State Treasurer John Chiang today released a report outlining steps California can take to address the lack of banking services that force much of the cannabis industry to operate in cash.
“It is unfair and a public safety risk to require a legal industry to haul duffle bags of cash to pay taxes, employees and utility bills,” said Chiang. “The reliance on cash paints a target on the back of cannabis operators and makes them and the general public vulnerable to violence and organized crime.”
The Treasurer’s report comes two months before California begins a new era by legalizing the commercial sale of recreational cannabis on January 1, 2018. Voters overwhelmingly sanctioned this new industry in 2016 when they passed Proposition 64.
Legalizing adult-use cannabis is projected to generate annual sales exceeding $7 billion and an estimated $1 billion a year in tax revenues.
The findings in the detailed study released Tuesday were distilled from six public hearings of the Treasurer’s 18-person Cannabis Banking Working Group, whose members included representatives from local and stat...more
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