Washington Officials Adopt Industry Petition to Help Cannabis Companies With Federal Registration Process

The Washington State Liquor and Cannabis Board (LCB) this week voted 3-0 to adopt a petition submitted by Caitlein Ryan and The Cannabis Alliance to create a mechanism for documenting a properly licensed company’s participation in the state medical cannabis industry.

The policy change will help qualified medical cannabis companies register as a federally legal entity, opening the business up to banking services, insurance options, and tax deductions that the cannabis industry has so far been denied.

President Donald Trump (R) signed an executive order in April calling for the immediate rescheduling of state-licensed medical cannabis. The federal Drug Enforcement Administration (DEA) later unveiled an online portal where qualified medical cannabis firms can apply to register for federal recognition as a legal cannabis operator.

“As federal cannabis law evolves, a standardized verification process ensures licensees have access to accurate state-issued documentation while leaving federal legal determinations to the appropriate federal agency.” — Excerpt from the petition

Ryan and The Cannabis Alliance submitted the petition last month.