Connect with us

Marijuana Business Daily

Metrc threatens to close accounts of Michigan cannabis firms over late payments

Published

on


Track-and-trace software provider Metrc is threatening to shutter the accounts of what could be dozens of Michigan cannabis companies over missed monthly payments, creating turmoil in the roughly $2 billion market.

The state’s top marijuana regulator interceded Tuesday, convincing Metrc to agree to a 30-day moratorium on the suspension of accounts, MJBizDaily confirmed.

ADVERTISEMENT

A widespread shuttering of accounts would have jeopardized the operations of many plant-touching companies, which rely on Metrc software to comply with Michigan marijuana regulations.

The software is used to track the movement of marijuana products through the commercial supply chain, from cultivation to sale.

“We reached out to Metrc and asked for a 30-day extension for this, and it was granted,” said David Harns, spokesperson for Michigan’s Cannabis Regulatory Agency (CRA).

“Metrc is trying to enforce payment terms.”

It’s unknown how many Metrc customers in Michigan have unpaid bills, but the Florida-based

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Is hemp the enemy of Florida’s adult-use marijuana initiative?

Published

on

By


Florida hemp businesses are lining up to oppose an adult-use marijuana legalization initiative that will appear on the state’s November ballot, according to campaign finance forms and MJBizDaily interviews.

They’re aggrieved by what they say is a monopoly play for a future adult-use market deliberately engineered by marijuana multistate operators.

ADVERTISEMENT

And with more than 10,000 hemp businesses registered in the state – compared with a few dozen large marijuana companies – hemp operators opposed to Amendment 3 believe they have enough money and votes to defeat the recreational marijuana measure largely funded by Tallahassee-based MSO Trulieve Cannabis.

In response, advocates for regulated marijuana operators say the hemp firms are being used as pawns in a game played by Florida Gov. Ron DeSantis, who will

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Trump VP pick Vance opposed marijuana banking but silent on legalization

Published

on

By


U.S. Sen. JD Vance, the Ohio Republican whom Donald Trump picked as his running mate for the November presidential election, is no supporter of federal marijuana reform.

Nor did the 39-year-old former investment banker and “Hillbilly Elegy” author support adult-use marijuana legalization in Ohio last year.

ADVERTISEMENT

But Vance doesn’t appear to be much of a cannabis-culture warrior, either, preferring instead to spend his political capital elsewhere.

No ‘friend’ of marijuana industry

“Is Vance a friend of the industry? Absolutely not,” Steve Schain, a Philadelphia-based attorney who specializes in cannabis banking and taxation issues, told MJBizDaily by phone on Tuesday.

“His first and only concern is fortifying and furthering his federal role.

“That being said, like most classic libertarians, he doesn’t want to disturb

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Metrc secures cannabis track-and-trace contract extension in California

Published

on

By


California’s cannabis regulatory agency has extended the state’s contract with Florida-based marijuana track-and-trace software company Metrc.

The new contract took effect July 1, according to California’s Department of Cannabis Control, and will run for four years.

ADVERTISEMENT

The state has an option to extend the contract another two years.

The Department of Cannabis Control did not immediately respond to an MJBizDaily inquiry about the value of the contract.

Metrc said in a news release that it will focus on improving transparency and speeding up data-driven responses to support regulators and protect consumers.

According to Metrc, its traceability system is billed to track the life cycle of cannabis-based products, including:

Origin. Testing results. Handling. Chain-of-custody information.

The timing of the contract extension

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media