Colorado Begins Application Process for Recreational Cannabis Retail Outlets Tomorrow

Starting a process which will soon result in the opening of cannabis retail outlets throughout the state, Colorado will officially begin accepting applications tomorrow (October 1st) for those wanting to open a recreational cannabis business.coloradoflag

During this initial application period, only existing medical cannabis outlets will be allowed to apply for a retail license. Of the 522 dispensaries in the state, at least a couple hundred are expected to apply.

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Bank of America OK With Being Washington’s Recreational Cannabis Banker

In an announcement that will have deep implications for the newly-legal recreational cannabis industry in Washington State, Bank of America has agreed to be the state’s primary cannabis banker, meaning they’re willing to accept millions of dollars from recreational cannabis sales.marijuanamoney

Currently Bank of America is Washington State’s official bank, which handles all of the state’s funds. However, the bank’s 7-year contract with the state runs out on June 30th. Washington asked for bids this month, specifically mentioning that accepting deposits of large amounts of cannabis-money will be a requirement.

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