Berkeley Marijuana Lab Raising Millions For U.S., Overseas Expansion

Steep Hill Announces $5M Limited Stock Offering

CALIFORNIA: Berkeley-based Steep Hill Labs Inc. is raising $5 million to expand into two states and Jamaica this year as well as pursue innovations in its testing equipment and genetics-related products. Steep Hill, which employs 30 people, generated $1.2 million in revenue in 2014 and has raised $4 million since its founding in 2008. The company Read the full article…

These 'Bitcoins For Marijuana' Try To Solve Legal Weed's Big Heist Problem

Their developers promise safety and security -- and they just may change the course of the drug war in the process.

Bitcoin isn’t the only digital currency changing the way we pay for things. Two new cryptocurrencies aimed at allowing people to safely buy drugs — legal or illegal — may provide new payment alternatives to the largely cash-only industries. Their developers promise safety and security — and they just may change the course of the Read the full article…

GrowLife Wants To Be Legal Weed's Financier

Under federal law, simply accepting regular business deposits from a known marijuana seller is a violation of money-laundering laws.

CALIFORNIA:  People will soon be able to purchase marijuana legally in Colorado and Washington State. Who will get high, financially speaking, from this emerging market? One aspiring company is GrowLife (PHOT), a publicly traded business in Woodland Hills, Calif., with cheeky ticker symbol PHOT. It doesn’t actually sell pot; it caters to marijuana growers, dealing them hydroponic Read the full article…

Department Of Justice Paves Way For Banks To Work With Pot Shops, Citing Public Safety

It is difficult to argue that any system that operates only in cash could be a "tightly regulated market in which revenues are tracked and account for."

DISTRICT OF COLUMBIA: Financial institutions and other enterprises that do business with marijuana shops that are in compliance with state laws are unlikely to be prosecuted for money laundering or other federal crimes that could be brought under existing federal drug laws, a senior Department of Justice official said Thursday.