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U.S.: How Will Marijuana Influence Super Tuesday?

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By Steve Elliott
Hemp News

As Super Tuesday fast approaches, Kind Financial CEO David Dinenberg decided to take a look at the influence of marijuana on the voters in the affected states.

"Most of the Super Tuesday states are historically Red states, and while that might be true today, many of these states are considering passing laws in favor of medical marijuana," Dinenberg said. "Alabama, Georgia, and Texas are considering legislation.

"Others, such as Vermont and Massachusetts, already have medical marijuana and now are considering recreational," Dinenberg said. "Of course, Alaska and Colorado have recreational use."

Dinenberg pointed out that Donald Trump is leading in the polls in every Super Tuesday state that has passed or is considering medical or recreational marijuana. "Mr. Trump is on record supporting states' rights," Dinenberg said. "While he doesn't favor federal legalization, his pro-states' rights just might be enough to fend off his competitors."

Marco Rubio and Ted Cruz both oppose medical marijuana, according to Dinenberg. "I ask this question to the candidates," he said. "How do you plan on winning an election that 58 percent of the voters disagree with you?"

U.S.: Start-Ups Step In For Wary Banks To Serve The Marijuana Industry

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By Steve Elliott
Hemp News

Several recently created start-ups are looking to solve one of the most persistent problems facing the nascent marijuana industry in Colorado, Washington and other legal states: the cash-only nature of a business which is still defined as illicit by the federal government.

While voters in Washington and Colorado in 2012, chose to bring marijuana commerce into the mainstream, with Oregon and Alaska joining the club in 2014, the federal government hasn't, shall we say, shown much political courage when it comes to biting the bullet and joining the 21st century.

VISA and MasterCard won't process transactions from marijuana dispensaries, fearing federal racketeering charges since cannabis is still nonsensically considered a Schedule I controlled substance under federal law. And most banks are scared silly by the prospect of "marijuana money" being in their vaults, for the same reason.

This means most medical marijuana dispensaries and recreational pot stores have a constant influx of cash, and the options of what to do with it range from dangerous on the one hand to more dangerous on the other.

Tokken, Hypur, and Kind Financial, among other start-ups, have started putting together software that helps banks and pot shops monitor and record sales, with the eventual goal of moving transactions away from cash, reports Nathaniel Popper at The New York Times.

U.S.: GOP Candidates Out of Touch On Marijuana Legalization

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By Steve Elliott
Hemp News

This week's Republican presidential debate in Colorado showed that the GOP candidates are out of touch with the majority of American voters when it comes to marijuana legalization, according to a leading financial advisor.

"Once again, the Republicans don't take the opportunity to speak to an overwhelming percentage of Americans in regards to state rights and legalization of marijuana," said David Dinenberg, CEO and founder of Kind Financial, a financial services firm for the legal cannabis industry. "The party should realize that several 'Red' states have some form of legalization on the 2016 ballots and the voters and consider the candidates' position on marijuana."

Dinenberg has made it no secret that he thinks the public debate should mirror the increasing intensity of the conversation, with more than 63 percent of Americans who believe marijuana should be legal. David would know, as he's well-versed in the political and financial angles of cannabis legalization issues.

"Last night's debate in Colorado revealed quite a bit about who is grounded in facts with a plan for the U.S. economy and who is just in it for a political dance," Dinenberg said. "How far cannabis has come in this country and how sophomoric the candidates can be!"

U.S.: Solution Launched To Enable Banks To Serve The Marijuana Industry

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Link to Banking, comprised of bankers, Certified Anti-Money Laundering Specialists (CAMS) and anti-fraud professionals, including a former bank regulator and former official from the Financial Crimes Enforcement Network (FinCEN), in partnership with Kind Financial, a financial solutions company to the cannabis industry, on Tuesday announced what they called "a software solution to enable banks to serve cannabis-related businesses."

Link to Banking’s new, Bankers Link to Cannabis Compliance (BLINCC) program ties into Kind Financial’s Seed to Banking solution. The combination offers banks a compliant real-time solution that monitors cannabis related businesses at a granular level.

"This program provides a web based system with customizable dashboard, enhancing the banks on-going transaction monitoring and due diligence through real-time access to customer transaction data," the companies announced in a prepared statement. The platform incorporates technology that monitors, tracks and reports the customer transaction data from seed to sale as well as bank deposits, i.e., a Seed to Banking solution.

According to the companies, his technology compliments Link to Banking’s broader business services that:

• Evaluates each bank’s Bank Secrecy Act/Anti-Money Laundering program (BSA/AML) and recommends enhancements to facilitate banking services to the cannabis industry.

U.S.: Acquisition Paves Way For First 'Seed-To-Banking' Solution For Marijuana Industry

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Kind Financial Acquires the Assets of Agrisoft Development Group

Kind Financial, a financial solutions company to the cannabis industry, on Thursday acquired the assets of Agrisoft Development Group, a seed-to-sale compliance software company.

The Agrisoft platform is used in cannabis dispensaries and cultivation operations in numerous states and Canada. It provides these facilities with back-office, inventory, biometric security, state regulation reporting systems and payment system adaptability.

Kind explained that with the expansion of legalized cannabis there's been more stringent regulations for inventory requirements including mandates for tracking cannabis and cannabis products from seed-to-sale.

Agrisoft's platform is the most advanced and detailed technology created specifically for the cannabis industry, offering 100 percent accountability and transparency of reporting to all levels of government, according to the company. "Its team of experts in law enforcement, regulatory compliance, software development and data security have combined their expertise to build the industry's most reliable and comprehensive tracking system," a prepared statement avers.

Agrisoft's platform documents every step in cannabis manufacturing, wholesaling and retailing, according to the company.

U.S.: Kind Financial Gets 2nd Round of Funding to Provide Financial Solutions to Cannabis Industry

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Kind Financial, (formerly KindBanking), the financial solutions platform for the cannabis industry, on Thursday announced that it has secured its second round of funding.

The company, in a prepared statement, said this investment will accelerate its mission to provide the legal cannabis industry with a full platform of financial services including, but not limited to, merchant and payment services, financing, equity investments, and insurance offerings. The company said it plans to launch a payment solution for the cannabis industry in the first quarter of 2015.

"Legitimate cannabis businesses are being denied many of the financial services available to other industries," explained David Dinenberg, founder and CEO of Kind Financial. "As a result of current regulatory measures, most financial institutions such as banks and credit card companies, are reluctant to do business with the cannabis industry.

"Our financial platform will fill this crucial need as the industry continues its exponential growth," Dinenberg said.

The investor group was led by Lindy Snider, founder and CEO of LindiSkin which manufactures and distributes clinically-proven skin care products for cancer patients. This is the latest in a series of investments Snider has made within the cannabis industry including a product designed to safely ship medical marijuana plants as well as an asset management company.

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