Sick of politics yet? We certainly are, but you cannot operate in the cannabis industry without keeping an eye on what happens in the White House, and November 3rd had one very clear winner on the ballot. No recount will diminish this victory, no legal action will revert the results, the people have spoken:
America is A-OK with cannabis.
If you live in Idaho, don't go borrowing a million dollars for your dispensary license just yet, a Biden Administration does not automatically mean a Federal Legalization of weed.
It really doesn't. We love to hear our peers' joyful cries of early victory but the truth is that President-Elect Joe Biden has never been your cannabis guy. And yes we know Kamala was instrumental in the passing of the MORE Act but as Vice-President, we can assume she will support her boss's position on the topic.
You see, there is the Cole Memorandum ... Obama's 2013 way of telling the DOJ to cool off on cannabis prosecutions in legal markets, this document basically gives birth to the US Legal Cannabis Industry by kicking the legalization down to the State level while asking the Federal government for a certain level of tolerance.
Trump used the memorandum as a toilet paper alternative during his presidency, that is why the last 4 years have been so much more frustrating for companies that are not plant-touching but provide the industry with valuable and very needed services, such as payment processing to mention the obvious.
But the Cole Memorandum is very important because it is potentially the first step to the federal decriminalization of cannabis.
Again if you are in Idaho, Wyoming, Kansas, Tennessee, Alabama, or North Carolina please don't think a change will come to you quickly, decriminalization is not legalization. But you can expect the Biden administration to fight hard to stop the incarceration of black and brown Americans for having a joint in their pocket during a routine traffic police stop.
The country is in such turmoil that cannabis might not be number one on the new president's to-do list, but criminal justice system reform will certainly be. (yeayyy!)
In the meantime States are one by one saying yes to weed and an even bigger yes to the incredible amount of tax money it brings into their pockets. On election night cannabis had a 100% success rate at the ballot with States like New Jersey saying "Oh hell yes!" to legalization. Can you imagine the pressure it puts on New York to see the over the river neighbor moving so quickly?
So as of today, only a handful of states are holding out on the national support for legal grass. 66% of the USA is pro-legalization, don't believe us, believe this Gallup Poll.
If you work in the industry this is a saga that resembles more or less a roller coaster and yet even at the highest of highs in the journey you still don't have the basic tools you need to operate your business. The limitations make up a long list of grievances, but one that comes up top of the list is the banking restrictions.
At WAAVE we have dedicated all our technical resources to create tools that fill the huge gaps the legislation has left you with.
Our platform gives you solutions to close the payment loop online and to also facilitate your interactions with your customers at the counter.
Whether you need WAAVEPay, WAAVE Terminal, or WAAVE Checkout we have a legit way for you to make your customers happy and ultimately sell more and sell easily.
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