Third party businesses that fall outside the spectrum of I-502 licensing still have a keen interest in the rules and regulations promulgated in the cannabis industry. Banks, insurance companies, architecture and construction firms, energy companies, law firms, accountants, and countless others that do business with the cannabis industry will be affected by the regulations.
Because cannabis is still illegal federally, many larger institutions with nation-wide presences will avoid the industry entirely. This means that areas like banking, insurance, and accounting will be largely dominated by small actors. Any regulations that affect these businesses must take account for the unique nature of the cannabis industry as well as the size of the parties involved.
Washington must set clear standards for insurance and banking in the cannabis industry that allow business to be done by all parties involved. Regulation of affiliated industries must be implemented with consultation from industry experts who understand the consequences of proposed rules.
Washington must also set clear standards for testing laboratories seeking accreditation for mandated testing of cannabis. Testing processes need to yield results that are succinct, repeatable, and relevant to the goals of the state. The Washington State Liquor Control Board must ensure that only the highest quality laboratories receive accreditation to test cannabis; it cannot allow fee-for-results style facilities to operate and compete with legitimate laboratories.
Regulators should not stand in the way of new and unique business strategies, whether it is product tracking at the producer and processor level or product dispensing at the retail level. Third party software and technology companies will contribute new and interesting ways of doing business, and regulators must not interfere with the organic growth of the industry.
CBG strives to accommodate supporting affiliate members and their future in the industry.