Cannabis Banking In Guam, Home Cultivation In Costa Rica, Hemp Hits Australia & More Global Updates

The Bank of Guam, which is a US territory, announced it would introduce banking services tailored to the cannabis industry in Guam and the Northern Marianas, marking a significant step forward in the region's financial services for Cannabis-Related Businesses (CRBs).

Launched in early 2024, the Bank of Guam became the first local bank to provide banking solutions, including deposits and loans to all tiers of the cannabis industry, ensuring compliance and security through a partnership with Green Check Verified.

Australian Hemp Strategic Acquisition, Senate Examines Cannabis Legalization

Elixinol Wellness Limited has acquired Ananda Food from Ecofibre Limited for $1.9 million, signaling a strategic consolidation within Australia's struggling hemp sector. This acquisition aims to bolster product offerings and market presence, showcasing a renewed optimism in the hemp industry's potential for innovation and growth.

Concurrently, Australia's Senate is delving into the possible legalization of cannabis for adult recreational use, driven by a proposal from Green Party Senator David Shoebridge. This legislative inquiry is set to evaluate the social, regulatory and health implications of legalizing cannabis and balancing advocacy for a regulated market. 

Costa Rica Considers Home-Cultivation Cannabis Legislation

Costa Rica's Frente Amplio Party has introduced legislation to permit the domestic cultivation of cannabis for personal use, aiming to address the needs of the elderly and combat the illicit market.

This proposal seeks to authorize the cultivation of up to 20 female cannabis plants per household, offering a legal alternative for obtaining cannabis.

Northern Mariana Islands Sees Growth In Cannabis Revenue

The Department of Finance in the Commonwealth of the Northern Mariana Islands (CNMI) has reported a notable increase in excise tax revenue from the cannabis industry, with $517,868 certified as of December 2023.

This growth highlights the economic potential of the cannabis sector, prompting legislative actions to ensure the appropriate allocation of funds for regulatory operations.

The House of Representatives recently passed a bill to support the cannabis commission's operational and personnel needs, underscoring the government's role in fostering a regulated and profitable cannabis industry.

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. 

Get your tickets now on bzcannabis.com – Prices will increase very soon!

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