LEX CANNA

SEC Chairman Issues Statement on Cryptocurrencies and Initial Coin Offerings

The developing cannabis industry is constantly dealing with payment and finance issues as a result of cannabis remaining a controlled substance under federal law.  One solution that has frequently been discussed is the use of virtual currency, such as Bitcoin, or other custom digital “coins” that may be sold through Initial Coin Offerings (ICOs).  Yesterday, […]

ON YOUR MARKS, GET SET…

After months of uncertainty, the California Secretary of State may finally be preparing to open the flood gates for potential applicants seeking to register trademarks and service marks for cannabis, as well as related good and services.  The Secretary of State’s website, http://www.sos.ca.gov/, now includes a portal specific to the cannabis industry: http://www.sos.ca.gov/business-programs/cannabizfile/, which features […]

Proposed Emergency Regulations Raise a Range of Concerns

On November 16, 2017, the Bureau of Cannabis Control (“BCC”) released its proposed emergency cannabis regulations. The emergency rulemaking procedure is expedited and allowed only a five-day window for the public to submit comments. The next step in the rulemaking process occurred on November 28, when the BCC submitted the proposed rules to the Office […]