At a cannabis festival, joyful stoners imbibe and state officials sweat the details
Outside a Sonoma County Fairgrounds exhibition hall last weekend, hordes of happy pot lovers walked around the Emerald Cup harvest festival, already stoned or about to be.
Inside the hall, a panel of entirely sober government officials discussed the ramifications of marijuana legalization, California’s complex and evolving regulatory structure, and tried to answer questions about the future of the cannabis industry that seem, at this point, unanswerable.
Will cannabis businesses ever be able to move away from the all-cash model forced upon them by banks unwilling to risk their charters to do business with purveyors of what the feds still classify as a controlled substance? (Hope so, said state Board of Equalization Chairwoman Fiona Ma, who urged them to pay their taxes even if they have to use buckets of cash to do so.)
How will the regulations that were belatedly developed for the 20-year-old medical marijuana industry mesh with regulations for...
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