Cannabis & Crypto News Fix
January 26th 2019
There was so much marijuana-related news this week that we could have devoted a whole News Fix to it. Instead, we’ll just give you the (really) abbreviated highlights.
- CBS has rejected a Super Bowl commercial that shows people who have been helped by medical marijuana and urges Congress to change federal law regarding medical marijuana (USA Today). This type of censorship is ridiculous and uncalled for – especially during an event that’s going to have nonstop beer commercials. Please call your local CBS affiliate to register your displeasure.
- California approved a rule that permits marijuana home delivery throughout the state (USA Today). But the police and communities that don’t want marijuana home delivery don’t like the rule, so the California Highway Patrol is still arresting marijuana delivery people (The Modesto Bee).
- New legislation in Kentucky would decriminalize marijuana possession (Lexington Herald Leader).
- The marijuana industry in Massachusetts is struggling to comply with state and local regulations that are sometimes in conflict (MassLive). The industry would prefer to comply with just the state standards. It brings compliance costs down and makes it easier to scale up.
- Florida’s new governor, Ron DeSantis, is shaking up the state’s medical marijuana scene in a good way. He’s proposed a regulatory overhaul that includes legalizing smoking medical marijuana. And legislators are working on eliminating mandatory vertical integration (growing, processing and distribution) requirements for dispensaries (Miami Herald).
And finally, on the crypto front, we have a couple of interesting news nuggets.
- MIT researchers say they’ve created a cryptocurrency that’s much faster and more efficient than any other coin on the market. Vault, as it’s called, uses 99% less data than bitcoin (MIT News).
- There’s a new cryptocurrency custody solution for institutional investors. It’s called Anchorage. And it’s funded by Andreessen Horowitz, SciFi VC (headed by PayPal co-founder Max Levchin), Khosla Ventures and more. Anchorage just completed a Series A round for $17 million (Cointelegraph).
And that’s your News Fix!
This post first appeared here at EarlyInvesting.com under the title Trying to Keep Up With Crypto Taxes, Conflicting Marijuana Regulations.
Senior Managing Editor, Early Investing.
Early Investing is the publisher of First Stage Investor (FSI). The only dedicated private startup investing research service we know of and wholeheartedly endorse.
Editor’s Note: By the way, our in-house Cannabis Investor’s Toolkit is expected to published by Friday. M4i members will have access to a complete in-depth guide that will INCLUDE all the key resources, contacts and credible research outlets any investor will need to become their own best profiteer in an industry that certainly isn’t going away, but will only keep growing from here.