October 2019

Travis Thompson joins panel on “Dissolving Cannabis Banking Barriers with Cryptocurrency” for BASF


Presented by The Cannabis, Alcohol and Regulated Industries Section of the Barristers Club

Moderator: Matt Quinn, Starfish
Ally Medina, Executive Director, Blockchain Advocacy Coalition
Hannah Stitt, Ad Astra Law Group LLP
Travis Thompson, Sideman & Bancroft LLP

In this seminar, attorneys will learn about the banking challenges faced by cannabis businesses and how cryptocurrency technology is being employed in reaction to those challenges. Panelists will identify: how limited access to banking affects a cannabis business and the local/state/federal regulators with jurisdiction over the business; how stablecoin or other cryptocurrency technologies may be used by a cannabis business to participate in digital banking; and, what businesses, executives and attorneys in the cannabis-crypto space need to understand about the pros and cons of operating in legal gray areas.

Topics include:

  • The cannabis industry banking crisis
  • The banking crisis’ affect on regulator’s ability to obtain taxes
  • AB 953 – Payment of state and local taxes by digital assets
  • Exposure created for any business simultaneously operating within two nascent, and increasingly regulated, industries

Section Co-Chairs: Sam Berrin, Sideman & Bancroft & Neda Shapourian, Smith Shapourian Mignano