Frustrated by the cash-heavy aspect of its new marijuana industry, Colorado is trying a long-shot bid to create the world's first financial system devoted to the pot business. But Colorado's plan to move the weed industry away from dank-smelling cash to easily auditable banking accounts is a Hail Mary pass that won't work, industry and regulatory officials agree.
Legalisation of cannabis is making slow but unstoppable progress across much of the developed world, many experts believe, following the end of prohibition in two US states. In Amsterdam, long famous for its coffee shops, international experts gathering to discuss cannabis regulation said the international conventions, once so heavily policed by the US, would now be increasingly flouted. Already many countries, most notably the Netherlands and Spain, have bypassed the rules.
The GOP-controlled House voted in favor of blocking the federal government from interfering with states that permit the use of medical marijuana. The surprising 219-189 vote came as the House debated a bill funding the Justice Department's budget. The amendment by conservative GOP Rep. Dana Rohrabacher of California -- the first state to legalize medical marijuana -- came as almost half the states have legalized marijuana for medical uses. "Public opinion is shifting," Rohrabacher said, noting a recent Pew Research Center survey that found 61 percent of Republicans support medical marijuana. (See also: Is Congress finally catching on about medical marijuana?)