Still, there’s room for improvement, the participants noted during a panel discussion at MJBizCon.
The panel – dubbed “Clash of the Titans” – focused on the culture wars that have long characterized divisions between the activists of the pro-cannabis movement and the industry’s corporate executives.
“Big business cannot survive without what cannabis culture has brought to the table,” said Wanda James, owner of Denver-based Simply Pure, a vertically integrated cannabis company.
As industries start to total their respective losses during the COVID-19 pandemic, legal representatives of cannabis businesses are hoping their still-growing industry isn’t taking a hit.
But Charles Gormally, who co-chairs Brach Eichler LLC‘s cannabis law practice, said one of the major issues for the industry is that it’s caught in a struggle to access banking services. And, although pending federal legislation would help that cause, current restrictions on bankers mean cannabis businesses missed out on coronavirus relief programs.
A coalition of marijuana trade organizations and credit unions are calling on Congress to provide cannabis businesses with access to federal coronavirus relief.
Cannabis Practice Co-Chair Charles X Gormally Shares Advice for Cannabis Business in His State.
This summer, New Jersey has rapidly expanded its medical marijuana program, and attorney Charles X Gormally said the legalization of recreational marijuana is not far behind.