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CryptoCann™ Report: Scientists look for steady cannabis high; Cryptocurrency exchanges in UK at low risk

California's cannabis regulators approve statewide deliveries

The Crypto Report

Cryptocurrency exchanges in the UK are at "low risk" for money laundering and terrorist financing activities, a report by Coindesk said in pointing to a report published by the Financial Action Task Force (FATF), a global anti-money laundering policymaker.

The report said that while such activities are an “emerging risk,” there is not enough evidence to suggest that they are occurring through crypto exchanges.

The regulator though has asked UK authorities to work on a plan to extend anti-money laundering and counter financing of terrorism rules in the crypto sector to tackle any potential risks.

READ: NetCents releases its first SaaS-based cryptocurrency payments processing platform

Cryptocurrency merchant bank Galaxy Digital and Block.One have led a $30 million Series A investment round in US neo-banking platform Good Money, a report by Cointelegraph said.

The investment came mostly via Galaxy and Block.One’s joint Galaxy EOS VC fund, one of several funds under the Block.One umbrella.

Good Money provides banking services and a handful of associated financial instruments to US account holders.

The Cann Report

Several companies are pouring money into research for a predictable cannabis plant that can produce a consistent high, a report by NBC News said.

These companies are hiring scientists, setting up labs and building research greenhouses that were previously used by Big Agriculture. They are hoping a product people can rely on will translate to millions of dollars in sales, the report said.

The latest forecast from Arcview Market Research in partnership with BDS Analytics concludes that US “retail flower sales are forecast to grow at a compound annual growth rate of 14.8% to reach $8.5 billion in 2022.”

The forecast added though that a growing portion of pot store customers are opting for processed cannabis concentrates that would give them a more consistent impact.

READ: Golden Leaf Holdings shares take a hit amid board shake-up

California’s cannabis business regulators have approved statewide marijuana deliveries, even in areas that ban cannabis, a report by the Marijuana Business Daily said.

The rules will not be completely finalized until approved by the Office of Administrative Law (OAL), which may not be until sometime in January.

Many believe statewide delivery - one of the most debated issues involving California’s marijuana industry - will boost sales by allowing licensed retailers and delivery businesses to reach consumers in municipalities that prohibit commercial cannabis sales.

READ: AmeriCann building million square foot sustainable cannabis facility

Contact Rene Pastor by [email protected]

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Cryptocurrency exchanges have low risk in UK of money laundering.

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