128 Million People About To Gain Access To Legal Pot: What It Means For Marijuana Stocks

Mexico is very close to opening a huge new legal recreational pot market. But the news might not be as great for marijuana stocks as you think.

October 27, 2019 ..... by Author Bio


Right now, around 41 million people have access to recreational marijuana that's legal at a federal level. Two countries have legalized recreational pot -- Canada and Uruguay. We can't include the millions of Americans who live in the 11 states that have legalized recreational marijuana in our total since marijuana remains illegal at the federal level in the United States.

But very soon another 128 million or so people will gain access to legal marijuana. Legislators in Mexico are finalizing regulations to make marijuana legal. The legislative effort came after the country's Supreme Court ruled last year that Mexico's ban on recreational pot was unconstitutional.

The time is rapidly approaching for the federally legal global marijuana market to more than quadruple. What does this mean for marijuana stocks?

What's in the draft legislation

At least for now, Mexico's regulations for legalized marijuana aren't finalized. However, a document on the Mexican Senate's website appears to be the draft legislation that's potentially on the road to approval. This document outlines several key aspects of the country's plans for legalizing marijuana.

Perhaps most importantly, a new entity called the Mexican Cannabis Institute would be created to oversee the implementation of marijuana legalization in the country. This institute must be established by Jan. 1, 2021, at the latest. With this relatively lengthy period for the Mexican Cannabis Institute to be up and running, it could take longer for marijuana to be legalized than many anticipated when the Mexican Supreme Court made its ruling last year.

One key function for the Mexican Cannabis Institute is to issue licenses for four types of businesses: cultivation, sale, transformation, import/export of cannabis. But there are a few catches with these licenses.

A single entity won't be able to hold more than one license for a given type. In other words, vertical integration where one company is involved in cannabis cultivation and retail sales won't be allowed.

However, one entity can have multiple licenses within a single type, with the institute to establish the maximum number of licenses permitted with the exception of retail licenses -- the proposed legislation includes a maximum limit of three. Importantly, the draft regulations don't allow licenses to be transferred in any way.

In addition, the kinds of products allowed to be sold will be limited. Cannabis-infused beverages and edibles won't be allowed in the recreational market but are permissible as medical products. Cannabis cosmetic products won't be allowed, either.

Mexican standoff?

These proposed rules appear to present some major obstacles for major Canadian or U.S. cannabis producers in expanding into the Mexican market. Winning in Mexico could prove to be very difficult.

The limitation on vertical integration will probably be especially disappointing for U.S.-based companies. Two of the biggest U.S. cannabis companies, Cresco Labs (OTC:CRLBF) and Green Thumb Industries (OTC:GTBIF), play up their vertical integration.

Both companies, along with well-known U.S. cannabis retailer MedMen (OTC:MMNFF), also have business models that rely on owning and operating a relatively large number of retail stores. But Mexico's proposed limit of the number of retail licenses to only three per license holder would mean that significant retail operations are out of the question.

Canopy Growth (NYSE:CGC) surely hoped to be able to launch cannabis-infused beverages in the Mexican market. But the restriction of these products for only medical use is likely to throw a wet blanket on any plans along these lines.

And none of the big Canadian or U.S. companies will be able to buy their way into the Mexican marijuana market after licenses are granted. The prohibition on transferring licenses ensures that this won't be a viable option.

Potential winners

Still, there are some marijuana stocks that could be winners when the large Mexican marijuana market opens for business. I'd put Aurora Cannabis (NYSE:ACB) at the top of the list.

Aurora acquired Farmacias Magistrales S.A. last year. Farmacias was the first federally licensed importer of cannabis containing THC in Mexico. You can bet that it will try to secure licenses in the new legal marijuana market that's on the way and will probably have a good chance of winning at least one license.

Canopy Growth could also still have a good shot at the Mexican market. The company already has significant Latin American operations in Colombia and Peru. Canopy has hinted in the past that it was keeping a close eye on developments in Mexico. Look for the company to make a move when the country's regulations permit.

But with the limitations that appear to be on the way, it seems clear that Mexico doesn't want its legal recreational marijuana market to be dominated by companies from other countries. Don't count on the quadrupling of the legal recreational marijuana opportunity resulting from Mexican legalization to dramatically change the fortunes for Aurora and Canopy Growth anytime soon.

128 Million People About To Gain Access To Legal Pot: What It Means For Marijuana Stocks

Mexico is very close to opening a huge new legal recreational pot market. But the news might not be as great for marijuana stocks as you think.

October 27, 2019 ..... by Author Bio


Right now, around 41 million people have access to recreational marijuana that's legal at a federal level. Two countries have legalized recreational pot -- Canada and Uruguay. We can't include the millions of Americans who live in the 11 states that have legalized recreational marijuana in our total since marijuana remains illegal at the federal level in the United States.

But very soon another 128 million or so people will gain access to legal marijuana. Legislators in Mexico are finalizing regulations to make marijuana legal. The legislative effort came after the country's Supreme Court ruled last year that Mexico's ban on recreational pot was unconstitutional.

The time is rapidly approaching for the federally legal global marijuana market to more than quadruple. What does this mean for marijuana stocks?

What's in the draft legislation

At least for now, Mexico's regulations for legalized marijuana aren't finalized. However, a document on the Mexican Senate's website appears to be the draft legislation that's potentially on the road to approval. This document outlines several key aspects of the country's plans for legalizing marijuana.

Perhaps most importantly, a new entity called the Mexican Cannabis Institute would be created to oversee the implementation of marijuana legalization in the country. This institute must be established by Jan. 1, 2021, at the latest. With this relatively lengthy period for the Mexican Cannabis Institute to be up and running, it could take longer for marijuana to be legalized than many anticipated when the Mexican Supreme Court made its ruling last year.

One key function for the Mexican Cannabis Institute is to issue licenses for four types of businesses: cultivation, sale, transformation, import/export of cannabis. But there are a few catches with these licenses.

A single entity won't be able to hold more than one license for a given type. In other words, vertical integration where one company is involved in cannabis cultivation and retail sales won't be allowed.

However, one entity can have multiple licenses within a single type, with the institute to establish the maximum number of licenses permitted with the exception of retail licenses -- the proposed legislation includes a maximum limit of three. Importantly, the draft regulations don't allow licenses to be transferred in any way.

In addition, the kinds of products allowed to be sold will be limited. Cannabis-infused beverages and edibles won't be allowed in the recreational market but are permissible as medical products. Cannabis cosmetic products won't be allowed, either.

Mexican standoff?

These proposed rules appear to present some major obstacles for major Canadian or U.S. cannabis producers in expanding into the Mexican market. Winning in Mexico could prove to be very difficult.

The limitation on vertical integration will probably be especially disappointing for U.S.-based companies. Two of the biggest U.S. cannabis companies, Cresco Labs (OTC:CRLBF) and Green Thumb Industries (OTC:GTBIF), play up their vertical integration.

Both companies, along with well-known U.S. cannabis retailer MedMen (OTC:MMNFF), also have business models that rely on owning and operating a relatively large number of retail stores. But Mexico's proposed limit of the number of retail licenses to only three per license holder would mean that significant retail operations are out of the question.

Canopy Growth (NYSE:CGC) surely hoped to be able to launch cannabis-infused beverages in the Mexican market. But the restriction of these products for only medical use is likely to throw a wet blanket on any plans along these lines.

And none of the big Canadian or U.S. companies will be able to buy their way into the Mexican marijuana market after licenses are granted. The prohibition on transferring licenses ensures that this won't be a viable option.

Potential winners

Still, there are some marijuana stocks that could be winners when the large Mexican marijuana market opens for business. I'd put Aurora Cannabis (NYSE:ACB) at the top of the list.

Aurora acquired Farmacias Magistrales S.A. last year. Farmacias was the first federally licensed importer of cannabis containing THC in Mexico. You can bet that it will try to secure licenses in the new legal marijuana market that's on the way and will probably have a good chance of winning at least one license.

Canopy Growth could also still have a good shot at the Mexican market. The company already has significant Latin American operations in Colombia and Peru. Canopy has hinted in the past that it was keeping a close eye on developments in Mexico. Look for the company to make a move when the country's regulations permit.

But with the limitations that appear to be on the way, it seems clear that Mexico doesn't want its legal recreational marijuana market to be dominated by companies from other countries. Don't count on the quadrupling of the legal recreational marijuana opportunity resulting from Mexican legalization to dramatically change the fortunes for Aurora and Canopy Growth anytime soon.

conix Sunday, 10/27/19 09:15:56 PM
Re: planetaryfuture post# 21452 0

Post #21453 of 21453

The MOU anticipates the Agreement having two parts. The first is the exchange of newly issued stock in the Company issued in exchange for the stock of Athena. The second part would include an Earn Out where more shares of the Company would be issued and held in escrow until certain net revenue targets are met. The allocation of the shares of the Company to Athena's shareholders will, if completed, give rise to a change of control event for the Company under the terms of the MOU.

Athena Bitcoin

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We need an update from the company on the progress of being placed back on otc. Audited fins should have gone a long way towards that.

"Expert Market" Quotations Now Open To Broker-Dealers Trading First Bitcoin Capital Corp Common Stock; First Bitcoin Enters Into MOU To Acquire Major Bitcoin ATM Business: Moves Forward On New Listing

October 22, 2019 6:00AM EDT

TEL AVIV, ISRAEL / ACCESSWIRE / October 22, 2019 / FIRST BITCOIN CAPITAL CORP (OTCPINK:BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies , developer of blockchain-powered technologies, owner of the patent related to the purchase and sale of cryptocurrencies utilizing an ATM or kiosk. The Company is proud to announce today that it has signed a Memorandum of Understanding (MOU) with Athena Bitcoin reflecting the intent to acquire 100% of Athena Bitcoin, a leading national Bitcoin ATM company.

The non-binding Memorandum of Understanding (the "MOU") with Athena Bitcoin ("Athena") has been entered into in order to acquire 100% of Athena in exchange for newly issued First Bitcoin Capital stock. Subject to completion of a comprehensive due diligence process by both parties, First Bitcoin Capital and Athena Bitcoin intend to subsequently enter into a Definitive Agreement (the "Agreement") to complete the transaction. The MOU anticipates the Agreement having two parts. The first is the exchange of newly issued stock in the Company issued in exchange for the stock of Athena. The second part would include an Earn Out where more shares of the Company would be issued and held in escrow until certain net revenue targets are met. The allocation of the shares of the Company to Athena's shareholders will, if completed, give rise to a change of control event for the Company under the terms of the MOU.

"Expert Market" Quotations Now Open To Broker-Dealers Trading First Bitcoin Capital Corp Common Stock:

According to the OTC Markets Group, their recently launched Expert Market "is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading. Restrictions can be based on issuer requirements, security attributes, investor accreditation and/or suitability risks." Prior to the adding of this new feature to the "Other OTC" Market, where BITCF also continues to trade, market makers could only exchange quotes verbally between themselves and licensed brokerage firms. Adding this new function allows broker-dealers to exclusively see one another's bid/ask/size quotes in a quotation system hidden from public view.

New Exchange Listing Progress

While the listing process for the Canadian Stock Exchange (CSE) is taking longer than anticipated, the Company is taking all necessary steps to succeed and continues diligently to move forward. The company is concomitantly pursuing the necessary steps required to move to a higher level in the OTC Markets.

About First Bitcoin Capital Corp

First Bitcoin Capital Corp (BITCF) began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. Recently the Company had acquired the patent (USPTO Patent US9135787) related to the purchase and sale of cryptocurrencies utilizing an ATM or kiosk and we believe that this patent will provide us a unique and leveraged position, in addition to our other projects as we continue moving forward into the digital asset and cryptocurrency businesses. This patent complements our innovation in the field of cryptocurrency and Blockchain.

The Company began developing its own blockchain and cryptocurrency called First Bitcoin (COIN: BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net

https://coinmarketcap.com/currencies/first-bitcoin/

Contact us via: info@firstbitcoin.io or visit www.firstbitcoin.io

follow us on Twitter; @1stBitCapital

follow us on Linkedin: www.linkedin.com/company/first-bitcoin-capital-corp/

follow us on FaceBook: https://www.facebook.com/BITCF/

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.

SOURCE: First Bitcoin Capital Corp.

accesswire.com https://www.accesswire.com/563780/Expert-Market-Quotations-Now-Open-To-Broker-Dealers-Trading-First-Bitcoin-Capital-Corp-Common-Stock-First-Bitcoin-Enters-Into-MOU-To-Acquire-Major-Bitcoin-ATM-Business-Moves-Forward-On-New-Listing
IN THIS STORY

" What Is Sacramento’s Cannabis Connection with Moscow? "

It’s a complicated story involving Russians, Ukrainians, pot cultivation facilities in the area, campaign funds, the feds and lots of money.

BY DALE KASLER AND THERESA CLIFT, THE SACRAMENTO BEE | OCTOBER 23, 2019 AT 3:01 AM

(TNS) — Sacramento’s legal cannabis industry has been drawn into a campaign-finance scandal that’s part of the impeachment inquiry of President Donald Trump. The local story is complicated. Many questions remain unanswered.

But here’s what we know so far about the links between Moscow and Sacramento and our own cannabis industry.

Let’s Start In Russia

That’s where we meet a man named Andrey Muraviev, a 44-year-old businessman who runs a Moscow-based investment fund called Parus Capital Limited and has served as an executive for several Russian companies. He founded a huge cement operation. Muraviev also is one of the biggest investors in the online payment platform Qiwi. which has been called the Russian PayPal.

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California Has the World's Biggest Weed Market. Its Black Market Is Even Bigger. Banking on Cannabis: House OKs Bill Protecting Banks from Sanctions for Doing Business with Legitimate Marijuana Businesses Weed Breathalyzer May Reassure Policymakers

Muraviev, whose last name is sometimes spelled Muravyev, has close ties to the U.S., it turns out. He reportedly graduated in 1998 with a degree in finance from San Francisco State University.

And he has invested in California marijuana ventures, including in Sacramento. Here, Muraviev was partners in two businesses with Sacramento’s undisputed king of cannabis.

His name is Garib Karapetyan, and he is the permit holder on eight Sacramento pot shops.

Karapetyan, 35, is increasingly marketing his businesses under the brand name “Kolas.” He is an investor in three pot-cultivation facilities in Sacramento and an as-yet unopened pot-delivery business. Last year Karapetyan purchased a $1.1 million condominium in the Sawyer Hotel adjacent to Golden 1 Center.

We don’t know how our local pot king, Karapetyan, became involved with Muraviev, the Russian businessman.

But we know that Karapetyan owns one of his dispensaries — Twelve Hour Care, or THC, at 6666 Fruitridge Road — with a man named Andrey Kukushkin, a Ukrainian-born U.S. citizen. (A former owner of the dispensary, Matt Davies, claims in a lawsuit that Karapetyan stole the business out from under him while Davies was in federal prison; Karapetyan’s attorney says that’s nonsense.)

All three men, in fact, were in business together. Muraviev was a partner with Karapetyan and Kukushkin in two consulting companies: Legacy Botanical Company of Sacramento and KKMC Management of San Francisco, which was originally registered in Roseville.

We know Kukushkin and Muraviev are linked financially. In a lawsuit Kukushkin filed against the partners in a separate San Francisco medical marijuana business, MediThrive, Kukushkin initially claimed he had invested $1 million in the business. Later he acknowledged that only Muraviev had put money into the company.

Who Is Andrey Kukushkin?

Back to Sacramento. Ukrainian-born Kukushkin, 46, has partnered with Karapetyan in the THC dispensary on Fruitridge Road; a Sacramento pot-delivery company; a pot-cultivation facility called 88th Street Inc.; and the two consulting companies. For what it’s worth, here is Kukushkin on a boat:

About two weeks ago, we learned that Kukushkin, the Sacramento cannabis investor, is one of four men charged with scheming to funnel foreign dollars to American political candidates to smooth the way for U.S. marijuana businesses.

In a federal grand jury indictment, prosecutors allege that four men — Kukushkin, Lev Parnas, Igor Fruman and David Correia — made plans to form a recreational marijuana business that would be funded by a foreigner (identified only as “Foreign National-1”).

The plan was to get retail cannabis licenses approved in several states including Nevada by funneling the foreign money to politicians’ campaigns, the indictment alleges. It’s illegal for foreigners to donate to U.S. election campaigns.

Kukushkin is quoted in the indictment as saying the scheme had to be kept secret because of the unnamed financier’s “Russian roots and current political paranoia about it.”

Igor And Lev, And Rudy

Who are Lev Parnas and Igor Fruman, the associates of Sacramento cannabis investor Kukushkin?

Parnas and Fruman have drawn the most attention because they’re close to Rudy Giuliani, the president’s personal attorney, and were reportedly helping Giuliani investigate former Vice President Joe Biden and his son Hunter Biden, in connection with the younger Biden’s business dealings in Ukraine. The indictment says the defendants were funneling money from an unidentified Russian national to political candidates in Nevada and “other States.”

The federal indictment indicates that Parnas, Fruman, Correia, Kukushkin and the unnamed Russian businessman met in Nevada — where marijuana had been legalized for recreational use in 2017 — in early September 2018 to discuss the marijuana business. They formalized the plan soon after, with the Russian businessman sending the first of two $500,000 wire transfers to Fruman on Sept. 18, 2018.

Two months later, in November, Fruman donated $10,000 to Nevada’s then-attorney general, Republican Adam Laxalt, who was running for governor, and the same amount to the 2018 Republican nominee for state attorney general, Wesley Duncan, according to state campaign finance records.

Back in California, Parnas and Fruman have donated hundreds of thousands to Republican congressional candidates, including House Minority Leader Kevin McCarthy of Bakersfield and three who lost their re-election bids last November: Jeff Denham, David Valadao and Steve Knight. Valadao, who is trying to win his seat back next year, and McCarthy have pledged to donate the contributions to charity.

Karapetyan, meanwhile, has donated to various Sacramento politicians in recent years, including Mayor Darrell Steinberg, City Councilman Jay Schenirer, Democratic Assemblyman Kevin McCarty and Sheriff Scott Jones. Steinberg has said he’ll donate the contributions to the Boys and Girls Clubs of Greater Sacramento.

What’s Happening Now?

The Sacramento Bee learned last week that the FBI was investigating how Sacramento regulates its pot storefronts. This is a separate investigation from the campaign-finance probe involving Parnas, Fruman, Correia and Sacramento’s local investor, Kukushkin. On Thursday, Kukushkin and Correia pleaded not guilty to conspiring with the Giuliani’s associates.

While their case is making its way through federal court, Sacramento has launched its own audit into how pot dispensaries are managed. This week, the Bee reported significant issues with how those dispensary permits are handed out in Sacramento, and how one group could have accumulated so many while others have been left behind.

McClatchy DC bureau reporters Ben Wieder and Kevin Hall contributed to this report.

Why We Did This Story

Three years ago, California transformed a once-criminal enterprise, the sale and cultivation of marijuana, into a legal, regulated industry.

In Sacramento, that means city officials under the Office of Cannabis Management, have the responsibility to permit and monitor the 30 storefront shops allowed to operate here. This is a $142 million industry that has already had a huge impact on the city. The Sacramento Bee wanted to find out how these shops are regulated, and who is behind them.

The story took on new meaning when four men were indicted for allegedly funneling foreign money into U.S. campaigns and attempting to secure cannabis licenses in Nevada and “other States,” as the indictment said. It turned out, one of the men who was indicted was a Ukrainian-born businessman named Andrey Kukushkin who was co-owner of a pot dispensary in Sacramento.

How We Did This Story

This story is the result of several weeks of reporting by Bee staff, numerous public records requests and interviews with regulators and people associated with the cannabis industry.

We first began this story after hearing from sources that the City of Sacramento’s licensing system for pot dispensaries was only loosely regulated and effectively shut out people who were trying to obtain a permit to operate a storefront shop in the city.

The first and hardest task was dislodging the permit and ownership records from the city. That required multiple requests under the California Public Records Act and frequent negotiation and prodding. Once we obtained most of the records, we got a clearer picture of how ownership is transferred in Sacramento.

We scoured other public records as well, including state business documents, federal records, tax forms and court filings, and interviewed sources throughout the city. Those sources include current and former city officials, attorneys, cannabis dispensary owners, and many others connected to the industry. We also visited several of the storefront shops to obtain public business records, but in a few cases we were turned away by employees.

California Cannabis King Linked To Ukrainian Who Was Indicted With Giuliani Associates


BY THERESA CLIFT, DALE KASLER, AND RYAN SABALOW

October 14, 2019

A Ukrainian-born man indicted in a campaign-finance scheme along with two associates of Rudy Giuliani, President Trump’s personal attorney, is an officer in a Sacramento cannabis dispensary controlled by a local businessman with a considerable share of the city’s pot business, records show.

Andrey Kukushkin was among four men indicted last week in an intricate plan to funnel foreign campaign donations to U.S. politicians and enter the legal pot business in Nevada and other states. Two of the defendants, Lev Parnas and Igor Fruman, are associates of Giuliani and were reportedly helping him investigate former Vice President Joe Biden, one of the leading candidates for the Democratic presidential nomination, and his son.

Now, that international scandal has unraveled a considerable subplot in Sacramento.

City and state records show Kukushkin’s partner in Sacramento is Garib Karapetyan, a permit holder for a total of eight dispensaries in the city. Karapetyan and his associates have become the de facto pot kings of Sacramento, controlling far more licenses than anyone else and papering the city with billboards and ads for their dispensaries.

Karapetyan, 35, has for years quietly and systematically expanded his pot-selling business throughout the city with the consent of Sacramento regulators, controlling nearly a third of the industry here. He has donated to the campaigns of local elected officials, including Mayor Darrell Steinberg, and purchased a $1.1 million condo in the luxury Sawyer Hotel near the Golden 1 Center....

.... There is no evidence that any of the money cited in last week’s indictment has been used to invest in the pot business in Sacramento.

However, the arrests draw a direct line from the alleged plan to funnel foreign donations to U.S. politicians, and the impeachment investigation in Congress, to the doorstep of Sacramento’s burgeoning legal pot industry. Several California politicians, including House Minority Leader Kevin McCarthy, accepted donations from Parnas and Fruman, and their work for Giuliani has become part of the impeachment investigation against Trump.

Kukushkin, who was arrested Thursday in San Francisco, is listed as chief financial officer of a corporation called Sharp Source, which operates the Twelve Hour Care retail pot dispensary in a nondescript strip mall on Fruitridge Road in Sacramento, according to records reviewed by The Bee.

Kukushkin, 46, also is listed as one of two permit holders for THC Sacramento, the alternate name for Twelve Hour Care, in documents filed with the city. Kukushkin has been among those holding the permit for the THC dispensary since 2017.

Kukushkin and Karapetyan also were listed as officers in a Sacramento “management and consulting” business called Legacy Botanical Company LLC, according to records filed with the Secretary of State’s Office in 2016. The state agency’s website says the company’s business license has been suspended. The Legacy Botanical connection between Kukushkin and Karapetyan was first reported by Mother Jones magazine.

.... Ukrainian-born businessman Andrey Kukushkin and three others were indicted Thursday, Oct. 10, 2019 in an intricate scheme to funnel foreign campaign donations to American politicians. Kukushkin is an officer in a Sacramento cannabis dispensary operated by a local businessman who controls a considerable share of the area’s pot business, records show.

For years, the city of Sacramento and its pot regulators have allowed business owners such as Karapetyan to gain control of a large segment of the storefront pot market in the city, as Karapetyan has added a variety of investors along the way. Kukushkin was one of those investors.

The tangled business interests associated with Karapetyan’s pot dispensaries illustrate how some owners have been allowed to expand despite relatively tight rules about ownership. Under city regulations, dispensary owners who want to get out of the business must surrender their licenses to the city; the city is then supposed to hold a lottery to determine the new owner.

The regulatory process was designed to prevent a consolidation of ownership in an industry in which the city has capped the number of licensed storefronts at 30.

Now, Sacramento’s mayor has called for an investigation into how owners have been allowed to accumulate so many licenses.

“If this story is true, then our cannabis licensing process, which was designed to protect consumers and reward local law-abiding businesses, is being improperly exploited,” Mayor Darrell Steinberg’s spokeswoman Mary Lynne Vellinga said in a statement Sunday. “The mayor is calling for an immediate investigation and will lead an effort to add additional safeguards to the licensing process.” ....

California Cannabis King Linked To Ukrainian Who Was Indicted With Giuliani Associates


BY THERESA CLIFT, DALE KASLER, AND RYAN SABALOW

October 14, 2019

A Ukrainian-born man indicted in a campaign-finance scheme along with two associates of Rudy Giuliani, President Trump’s personal attorney, is an officer in a Sacramento cannabis dispensary controlled by a local businessman with a considerable share of the city’s pot business, records show.

Andrey Kukushkin was among four men indicted last week in an intricate plan to funnel foreign campaign donations to U.S. politicians and enter the legal pot business in Nevada and other states. Two of the defendants, Lev Parnas and Igor Fruman, are associates of Giuliani and were reportedly helping him investigate former Vice President Joe Biden, one of the leading candidates for the Democratic presidential nomination, and his son.

Now, that international scandal has unraveled a considerable subplot in Sacramento.

City and state records show Kukushkin’s partner in Sacramento is Garib Karapetyan, a permit holder for a total of eight dispensaries in the city. Karapetyan and his associates have become the de facto pot kings of Sacramento, controlling far more licenses than anyone else and papering the city with billboards and ads for their dispensaries.

Karapetyan, 35, has for years quietly and systematically expanded his pot-selling business throughout the city with the consent of Sacramento regulators, controlling nearly a third of the industry here. He has donated to the campaigns of local elected officials, including Mayor Darrell Steinberg, and purchased a $1.1 million condo in the luxury Sawyer Hotel near the Golden 1 Center....

.... There is no evidence that any of the money cited in last week’s indictment has been used to invest in the pot business in Sacramento.

However, the arrests draw a direct line from the alleged plan to funnel foreign donations to U.S. politicians, and the impeachment investigation in Congress, to the doorstep of Sacramento’s burgeoning legal pot industry. Several California politicians, including House Minority Leader Kevin McCarthy, accepted donations from Parnas and Fruman, and their work for Giuliani has become part of the impeachment investigation against Trump.

Kukushkin, who was arrested Thursday in San Francisco, is listed as chief financial officer of a corporation called Sharp Source, which operates the Twelve Hour Care retail pot dispensary in a nondescript strip mall on Fruitridge Road in Sacramento, according to records reviewed by The Bee.

Kukushkin, 46, also is listed as one of two permit holders for THC Sacramento, the alternate name for Twelve Hour Care, in documents filed with the city. Kukushkin has been among those holding the permit for the THC dispensary since 2017.

Kukushkin and Karapetyan also were listed as officers in a Sacramento “management and consulting” business called Legacy Botanical Company LLC, according to records filed with the Secretary of State’s Office in 2016. The state agency’s website says the company’s business license has been suspended. The Legacy Botanical connection between Kukushkin and Karapetyan was first reported by Mother Jones magazine.

.... Ukrainian-born businessman Andrey Kukushkin and three others were indicted Thursday, Oct. 10, 2019 in an intricate scheme to funnel foreign campaign donations to American politicians. Kukushkin is an officer in a Sacramento cannabis dispensary operated by a local businessman who controls a considerable share of the area’s pot business, records show. OK.RU
For years, the city of Sacramento and its pot regulators have allowed business owners such as Karapetyan to gain control of a large segment of the storefront pot market in the city, as Karapetyan has added a variety of investors along the way. Kukushkin was one of those investors.

The tangled business interests associated with Karapetyan’s pot dispensaries illustrate how some owners have been allowed to expand despite relatively tight rules about ownership. Under city regulations, dispensary owners who want to get out of the business must surrender their licenses to the city; the city is then supposed to hold a lottery to determine the new owner.

The regulatory process was designed to prevent a consolidation of ownership in an industry in which the city has capped the number of licensed storefronts at 30.

Now, Sacramento’s mayor has called for an investigation into how owners have been allowed to accumulate so many licenses.

“If this story is true, then our cannabis licensing process, which was designed to protect consumers and reward local law-abiding businesses, is being improperly exploited,” Mayor Darrell Steinberg’s spokeswoman Mary Lynne Vellinga said in a statement Sunday. “The mayor is calling for an immediate investigation and will lead an effort to add additional safeguards to the licensing process.” ....

TEL AVIV, ISRAEL / ACCESSWIRE / October 8, 2019 / FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies and developer of blockchain-powered technologies is proud to announce that it has signed a Memorandum of Understanding (MOU) with BITCASAS INC with the intent to acquire a major stake in BitCasas,Inc., a group of companies utilizing its structure to promote the adoption of tokenization of real estate assets and mortgage loans.

Recently, CORNELL UNIVERSITY REAL ESTATE REVIEW published a report entitled:

TOKENIZED REAL ESTATE: CREATING NEW INVESTING AND FINANCING CHANNELS THROUGH BLOCKCHAIN

blog.realestate.cornell.edu/2019/04/30/tokenizing-real-estate-creating-new-investing-and-financing-channels-through-blockchain/

What does tokenizing mean for real estate investors?

In addition to creating fractional ownership of an asset, tokenization can create liquidity for the investor. Traditionally, real estate investment requires capital lock-in for an extended period of time. With tokenization, interests in real estate can become more liquid and create access to global capital.Tokenizing allows smaller carve-outs of an asset that are then sold, creating more liquidity for majority owners and developers. Traditional exchanges of real estate interests are limited to more regional investors, during local opening hours, whereas tokens can be traded at any time across borders.

CoinDesk reported that blockchain could save US mortgage industry $US 1 Billion.

https://www.coindesk.com/moodys-blockchain-could-save-us-mortgage-industry-1-billion

According to the Federal Reserve Q1 2018 Report, the current US market for residential loaning is estimated at over $14 trillion, with 1.7% of these loans failing to meet scheduled payments (Non-Performing Loans or NPLs) which are then traded at a significant discount. Because of the capital and knowledge required to pursue this asset class, control over this market has been dominated by large institutional investors.

"Opportunity resides within this niche marketplace as to the acquisition and collection of non-performing mortgages. With a nationwide network of legal resources, the framework for fast and accurate underwriting with the experience to monetize these undervalued assets, BitCasas is uniquely qualified and positioned to secure investments by traditional real estate mortgages and provide investors with high yields by turning non-performing mortgages into high value performing mortgages." says Kamran Mohammadi, CEO of Bitcasas.

"To help individuals all over the world understand the benefits of mortgage debt as an asset class - ownership in real estate without the management headache - we have developed the BitCasas online investment platform. Using blockchain as its backbone adds full transparency and instant liquidity through tradeable asset-backed security tokens" says Ramesh Ramadoss , President of Bitcasas.

"Our platform provides greater individual participation in this market by tapping into the power of the community in due diligence and NPL deal flow immediately in residential home loans, with an eye on commercial loans in the future. We will be pleased to become a portfolio company of First Bitcoin Capital."

ABOUT BITCASAS INC.:

BitCasas is a Silicon Valley-based startup that is building the world's first online cross-border platform for making investments in mortgage loans backed by U.S. real estate. The BitCasas Asset-Backed Securities (BCAS) portfolio is collateralized by performing loans backed by residential and commercial real estate based in the United States.

Historically, BitCasas and its managers have procured in excess of $30 million worth of loans. The BitCasas team consists of top-notch technologists and real estate professionals who have deep experience in the purchase, management and modification of loans collateralized by real estate.

Kamran Mohammadi is the Chief Executive Officer of BitCasas Inc. He is an accomplished Executive based in Silicon Valley with twenty plus years of experience in Real Estate, Mortgages and Notes. His experience includes but not limited to operations, oversight, and marketing involving both startups and growth organizations. He is a results-oriented, decisive leader with proven success in new market identification and strategic positioning for multi-million dollar residential, commercial and industrial portfolio investments. He has a proven track record of delivering extraordinary results in a high demanding market whilst improving growth, revenue, operational performance and profitability for investors worldwide. At BitCasas, he is involved in creating a bridge between the conventional Mortgage Note Industry and the emerging blockchain technology.

Ramesh Ramadoss is the President of BitCasas Inc. He is a co-chair of the IEEE Blockchain Initiative. He is also the chair of the IEEE Blockchain Standards Committee. He received his Bachelor of Engineering degree from Thiagarajar College of Engineering, Madurai Kamaraj University, India in May 1998 and his PhD degree in Electrical Engineering from the University of Colorado at Boulder in May 2003. From Jun. 2003 to Dec. 2007, he was employed as an Assistant Professor in the Department of Electrical and Computer Engineering at Auburn University, Alabama, USA. He moved to Silicon Valley in Jan 2008 and has over a decade of experience in leading engineering projects at several technology companies. He is the author or coauthor of 1 book, 4 book chapters and 55 papers. He has conducted projects for DARPA, NASA, US Army, US Air Force, Sandia National Labs, and Motorola Labs.

BitCasas' patent-pending technology uses blockchain-based tokenization to enable fractional ownership of real estate mortgage loans. BitCasas, through the establishment of trusts, issues compliant Security Token Offerings (STOs) pursuant to regulations under the Securities Act of 1933, which offers exemptions from registration for the securities - appealing to both U.S.-accredited and non-U.S. investors.

While today's offering magnifies the depth and breadth of an already strong real estate investment market, it places BitCasas atop a new operational dynamic. With this offering, BitCasas is the exclusive sponsor of BCAS- the only live securities token for mortgage loans backed by U.S. real estate. It plans to continue growing its presence and strengthening its competitive impact for investment possibilities as it broadens its activity in the U.S. residential and commercial real estate markets.

Contact us via: info@bitcasas.com or visit https://www.bitcasas.com/

About First Bitcoin Capital Corp

First Bitcoin Capital Corp (BITCF) began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.

The Company began developing its own blockchain and cryptocurrency called First Bitcoin (COIN:BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net

https://coinmarketcap.com/currencies/first-bitcoin/

Contact us via: info@firstbitcoin.io or visit https://firstbitcoin.io/

According to Hootsuite.com : Social media use is growing

3.48 billion people now use social media. That's an increase of 9% from last year. Put another way: 45% of the total world population are using social networks. 366 million new people started using social media in the past year. That's more than a million new people joining social media every single day.

According to Hootsuite.com : Social media use is growing

3.48 billion people now use social media. That's an increase of 9% from last year. Put another way: 45% of the total world population are using social networks. 366 million new people started using social media in the past year. That's more than a million new people joining social media every single day.

Bitcoin (BTC) and “unsteady cryptocurrency mania” are the one of six factors that threaten Goldman Sachs 2018 market outlook, according to a July 2018 report by the Goldman Sachs Investment Strategy Group.

Goldman Sachs Has Just Issued An Ominous Warning About Stock Market Chaos In October

Saturday, 09/21/2019 ..... Authored by Michael Snyder via The Economic Collapse blog

Are we about to see U.S. financial markets go crazy? That is what Goldman Sachs seems to think, and it certainly wouldn’t be the first time that great financial chaos has been unleashed during the month of October. When the stock market crashed in October 1929, it started the worst economic depression that we have ever witnessed. In October 1987, the largest single day percentage decline in U.S. stock market history rocked the entire planet. And the nightmarish events of October 2008 set the stage for a “Great Recession” that we still haven’t fully recovered from. So could it be possible that something similar may happen in October 2019?

According to CNBC, Goldman Sachs is warning that the stock market could soon “go crazy again”…

For investors taking a breather from the chaos in August, buckle up as the market is about to go crazy again, Goldman Sachs warned.

Wall Street is now inches away from reclaiming its record highs, but a rockier ride could be around the corner as stock volatility has been 25% higher in October on average since 1928, according to Goldman. Big price swings have been seen in each major stock benchmark and sector in October over the past 30 years, with technology and health care being the most volatile groups, Goldman said.

Goldman derivatives strategist John Marshall is the man behind this new warning, and he believes that there are some fundamental reasons why the month of October is often so volatile…

“We believe high October volatility is more than just a coincidence,” John Marshall, equity derivatives strategist at Goldman, said in a note Friday. “We believe it is a critical period for many investors and companies that manage performance to calendar year-end.”

And even though October hasn’t arrived yet, we are already starting to see some things that we haven’t witnessed since the last financial crisis.

For example, the Federal Reserve had not intervened in the repo market since 2008, but this week the liquidity crunch was so bad that the Fed felt forced to conduct emergency overnight repurchase agreement operations on Tuesday, Wednesday, Thursday and Friday.

And then on Friday the Fed announced that it will continue to conduct emergency interventions “on a daily basis for the next three weeks”…

The New York Federal Reserve Bank said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks in an effort to prevent a spike in short-term interest rates.

The Fed will offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — through October 10, it said in a statement.

In addition, it will offer three 14-day “repo” operations of at least $30 billion each.

In essence, the “plumbing” of our financial system has gotten all jammed up, and calling out Roto-Rooter is simply not going to get the job done.

Of course Fed officials are trying to assure us that this is no big deal and that they have everything under control.

But if all this is no big deal, why haven’t they had to conduct such emergency interventions for the last 11 years?

And this comes at a time when the deterioration of the U.S. economy appears to be accelerating. In fact, on Friday St. Louis Fed President James Bullard publicly admitted that the U.S. manufacturing industry appears to already be in a recession…

The US manufacturing sector “already appears in recession” and overall economic growth is expected to slow “in the near horizon,” St. Louis Federal Reserve Bank president James Bullard said on Friday, explaining why he dissented at a recent Fed meeting and wanted a deeper, half-percentage-point rate cut.

That is a stunning admission, because normally Fed officials try very hard to maintain the narrative that everything is wonderful because they are doing such a great job of manipulating the economy.

The American people as a whole are becoming increasingly pessimistic about the economy as well, and Gallup just released some very alarming numbers…

Americans’ confidence in the economy has become less rosy this month as Gallup’s Economic Confidence Index fell to +17 from August’s +24 reading, marking the lowest level since the government shutdown ended in January.

At the same time, the public is evenly divided over the likelihood of a recession in the next year. The current expectation of a recession is nine points higher than it was in October 2007, just two months before the Great Recession began but slightly below a February 2001 reading, one month before that eight-month-long recession.

Every economic indicator that we have is telling us that big trouble is heading our way, but most Americans are partying instead of preparing.

U.S. financial markets have never been more primed for a crash than they are at this moment, and so many of the exact same patterns that we witnessed just prior to the last recession are happening again right now.

Over the past few months, my wife and I have felt a sense of urgency unlike anything that we have ever felt before. You may have noticed a difference in our tone and in the types of stories that we have been sharing. Everything that we have been doing has been leading up to this. The time of “the perfect storm” is here, and most Americans won’t understand what is happening.

The storm clouds are looming and disaster could strike at any time. This is one of the most critical times in the history of our nation, and most Americans are completely unprepared for what is going to happen next.

Again, despite professional caution, a recent Gallup Poll found, “public support for legalising marijuana has surged, 86% of U.S. supporters of legal marijuana saying its medicinal benefits are a very important reason they support legalisation .....

Medical Marijuana: Developments In The industry

September 18, 2019 .....

.... The Block Commodities team has followed the development of the medical marijuana industry over a number of years. We had the good fortune initially to become involved with experienced U.S. cultivators and African licence holders for medical marijuana and our journey has become tied to a global transformation which has quietly gathered pace in the re-assessment of the value of marijuana from “users”, to legislators to revenue collectors.

As a listed public company, we are highly regulated and our focus is on legal growth, processing, research and the sale of primarily CBD and THC products. Whilst our project started in Africa, we have also quickly acquired licences for research and two further areas for cultivation and growth in Europe and Africa, with re-investment of a percentage of profits in social and infrastructure projects. Our objective is to develop a high-quality growth, research and distribution network.

As with any industry sector, the global market can at first appear chaotic, however, un-picking the myriad legis­lative and regulatory requirements across Africa, Europe, Canada and the U.S., it is clear that established technical expertise, supply-lines, finance and supporting industries are established and continue to develop rapidly. Uruguay, Canada and Luxembourg have set a national legislative pace and in the U.S., 33 States have legalised the medicinal use of which eleven have endorsed recreational use. The collective legislative response in the European Union (EU) has been slower although, “the European Parliament has positioned itself in favour of legalising the therapeutic use of cannabis by approving a resolution urging the European Commission and all Member States to address the regulatory, financial and cultural barriers related to the plant.” (A)

Whilst centralised policy remains undeveloped, it has become apparent in our engagements at a national level that Spain, Germany and Portugal are developing solid infrastructures with multiple licences for growth, processing research and export granted; the Dutch have superb quality growth capability, established analytics and labs; Denmark is building state of the art processing capacity and the Baltic State’s crops are being harvested and processed. Malta, Switzerland, Poland and a number of States in the Adriatic have licenced growth and production at various stages of development. China, where the possession and use remain illegal, is pragmatically becoming a major volume producer of CDB and THC labs are already established by European businesses. However, for the moment, the commercial muscle remains in the U.S. and Canada, where consolidation is already becoming evident and applications to list on European exchanges are growing.

The World Health Organization (WHO) has recommended a rescheduling of Cannabis within the international drug control framework to facilitate trade for medicinal and scientific purposes re-aligning the 1961 and 1971 conventions. However, the Commission for Narcotic Drugs delayed its vote on the proposal earlier this year. In August meanwhile, The American Bar Association endorsed the ending of Marijuana Prohibition, urging Congress to end the conflict between State and Federal Law. (1)

While legislative and regulatory barriers continue to be asymmetric and porous consumer demand continues to outstrip supply and while this has a significant impact on the quality of product reaching consumers, it also risks criminalising consumers and inhibits the generation of tax revenues. This has been evident in the UK where evidence for the efficacy of plant-based treatments for alleviating the symptoms of diseases such as epilepsy, Alzheimer, arthritis, asthma, cancer or mental disorders such as psychosis are acknowledged?(2) but existing clinical studies are considered insufficient.?(3) Some parents of child suffers are risking prosecution to secure supplies from sources where treatments are legally available.?(4)

“According to data compiled by Mordor Intelligence, the global cannabis market was valued at $7.7 billion in 2016 and is expected to reach $65 billion by 2023. Additionally, the market is projected to register a robust CAGR of 37% during the forecast period as well” – Marketwatch, 22 Feb 2019

The medical profession’s response whether to THC or CBD based products is not unexpected, Harvard MD Peter Grimspoon on CBD says, “We need more research but CBD may prove to be an option for managing anxiety, insomnia and chronic pain. Without sufficient high-quality evidence in human studies, we can’t pinpoint effective doses and because CBD is currently mostly available as an unregulated supplement, it’s difficult to know exactly what you are getting.”?(5)

At the same time in an adjacent Harvard function, a study on a cannabis-derived flavonoid as a treatment for pancreatic cancer with a 70% success rate in mice, has been announced as having a potential ‘major impact’ on cancer treatment in humans.?(6)

Again, despite professional caution, a recent Gallup Poll found, “public support for legalising marijuana has surged, 86% of U.S. supporters of legal marijuana saying its medicinal benefits are a very important reason they support legalisation…also freeing up police resources to focus on other crimes… and generating tax revenue…re key reasons for their support.”?(7)

The groundswell in consumer demand is compelling with one in seven Americans saying they personally use cannabidiol (CBD) based products…(8)

According to data compiled by Mordor Intelligence, the global cannabis market will be worth $65 billion by 2023.

The Autonomous University of Barcelona (UAB) calculated the revenue that the Spanish Public Treasury would receive €3.3 billion ($3.71 billion) per year in taxes and social security contributions. A With the benefit of legalisation diminishing the black-market share to 15% of total demand.

Based on the Spanish population, a crude extrapolation to the EU population would create €37 billion revenues, enough to cover a couple of Brexits and if the whole European population is taken into account, the figure is €53 billion ....

Medical Marijuana: Developments In The industry

September 18, 2019 .....

.... The Block Commodities team has followed the development of the medical marijuana industry over a number of years. We had the good fortune initially to become involved with experienced U.S. cultivators and African licence holders for medical marijuana and our journey has become tied to a global transformation which has quietly gathered pace in the re-assessment of the value of marijuana from “users”, to legislators to revenue collectors.

As a listed public company, we are highly regulated and our focus is on legal growth, processing, research and the sale of primarily CBD and THC products. Whilst our project started in Africa, we have also quickly acquired licences for research and two further areas for cultivation and growth in Europe and Africa, with re-investment of a percentage of profits in social and infrastructure projects. Our objective is to develop a high-quality growth, research and distribution network.

As with any industry sector, the global market can at first appear chaotic, however, un-picking the myriad legis­lative and regulatory requirements across Africa, Europe, Canada and the U.S., it is clear that established technical expertise, supply-lines, finance and supporting industries are established and continue to develop rapidly. Uruguay, Canada and Luxembourg have set a national legislative pace and in the U.S., 33 States have legalised the medicinal use of which eleven have endorsed recreational use. The collective legislative response in the European Union (EU) has been slower although, “the European Parliament has positioned itself in favour of legalising the therapeutic use of cannabis by approving a resolution urging the European Commission and all Member States to address the regulatory, financial and cultural barriers related to the plant.” (A)

Whilst centralised policy remains undeveloped, it has become apparent in our engagements at a national level that Spain, Germany and Portugal are developing solid infrastructures with multiple licences for growth, processing research and export granted; the Dutch have superb quality growth capability, established analytics and labs; Denmark is building state of the art processing capacity and the Baltic State’s crops are being harvested and processed. Malta, Switzerland, Poland and a number of States in the Adriatic have licenced growth and production at various stages of development. China, where the possession and use remain illegal, is pragmatically becoming a major volume producer of CDB and THC labs are already established by European businesses. However, for the moment, the commercial muscle remains in the U.S. and Canada, where consolidation is already becoming evident and applications to list on European exchanges are growing.

The World Health Organization (WHO) has recommended a rescheduling of Cannabis within the international drug control framework to facilitate trade for medicinal and scientific purposes re-aligning the 1961 and 1971 conventions. However, the Commission for Narcotic Drugs delayed its vote on the proposal earlier this year. In August meanwhile, The American Bar Association endorsed the ending of Marijuana Prohibition, urging Congress to end the conflict between State and Federal Law. (1)

While legislative and regulatory barriers continue to be asymmetric and porous consumer demand continues to outstrip supply and while this has a significant impact on the quality of product reaching consumers, it also risks criminalising consumers and inhibits the generation of tax revenues. This has been evident in the UK where evidence for the efficacy of plant-based treatments for alleviating the symptoms of diseases such as epilepsy, Alzheimer, arthritis, asthma, cancer or mental disorders such as psychosis are acknowledged?(2) but existing clinical studies are considered insufficient.?(3) Some parents of child suffers are risking prosecution to secure supplies from sources where treatments are legally available.?(4)

“According to data compiled by Mordor Intelligence, the global cannabis market was valued at $7.7 billion in 2016 and is expected to reach $65 billion by 2023. Additionally, the market is projected to register a robust CAGR of 37% during the forecast period as well” – Marketwatch, 22 Feb 2019

The medical profession’s response whether to THC or CBD based products is not unexpected, Harvard MD Peter Grimspoon on CBD says, “We need more research but CBD may prove to be an option for managing anxiety, insomnia and chronic pain. Without sufficient high-quality evidence in human studies, we can’t pinpoint effective doses and because CBD is currently mostly available as an unregulated supplement, it’s difficult to know exactly what you are getting.”?(5)

At the same time in an adjacent Harvard function, a study on a cannabis-derived flavonoid as a treatment for pancreatic cancer with a 70% success rate in mice, has been announced as having a potential ‘major impact’ on cancer treatment in humans.?(6)

Again, despite professional caution, a recent Gallup Poll found, “public support for legalising marijuana has surged, 86% of U.S. supporters of legal marijuana saying its medicinal benefits are a very important reason they support legalisation…also freeing up police resources to focus on other crimes… and generating tax revenue…re key reasons for their support.”?(7)

The groundswell in consumer demand is compelling with one in seven Americans saying they personally use cannabidiol (CBD) based products…(8)

According to data compiled by Mordor Intelligence, the global cannabis market will be worth $65 billion by 2023.

The Autonomous University of Barcelona (UAB) calculated the revenue that the Spanish Public Treasury would receive €3.3 billion ($3.71 billion) per year in taxes and social security contributions. A With the benefit of legalisation diminishing the black-market share to 15% of total demand.

Based on the Spanish population, a crude extrapolation to the EU population would create €37 billion revenues, enough to cover a couple of Brexits and if the whole European population is taken into account, the figure is €53 billion ....

PCAOB Auditor of First Bitcoin Capital Corp (BITCF) Completes Audits for 2018; Clears Way for Listing on Canadian Stock Exchange and Relisting on Higher US Market


TEL AVIV, ISRAEL / ACCESSWIRE / September 12, 2019 / FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies and developer of blockchain-powered technologies announced today that it has completed its audited financial statements for the fiscal year ending December 31, 2018. An independent auditor (which is a PCAOB registered accounting firm) completed the audits of the Company's financial statements within the guidelines of Canadian Generally Accepted Accounting Principles (GAAP) as well as our consolidated financial statements having been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

This is a significant step in additional transparency for the Company’s shareholders and we are taking the necessary steps to file an application to become listed on the Canada Stock Exchange (CSE).

“We are excited to move forward with the completion of our audits covering 2016 through 2018,” said Greg Rubin CEO of BITCF. “We anticipate that the completion of the latest audit will also accelerate our efforts towards the Company becoming a fully reporting company with the US and Canadian securities regulators.”

Due to Canadian GAAP and IFRS standards, it was required that First Bitcoin write down its assets considerably as well as booking of certain assets at nil or zero value based on historic costs and lack of those assets generating cash revenues. However, the company’s gross income increased substantially and losses decreased significantly from .008 to .001 per share from the years ending 2017 and 2018 respectively.

The financial results can be viewed at: https://firstbitcoin.io/wp-content/uploads/2019/09/2018-Audited-Annual-Report.pdf

Management’s Discussion and Analysis can be read here: https://firstbitcoin.io/wp-content/uploads/2019/09/2018-Management-Discussion-and-Analysis.pdf

About First Bitcoin Capital Corp

First Bitcoin Capital Corp (OTC:BITCF) began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.

The Company began developing its own blockchain and cryptocurrency called First Bitcoin (COIN:BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net with its explorer at www.explorer.bitcf.net

https://coinmarketcap.com/currencies/first-bitcoin/

Contact us via: info@firstbitcoin.io or visit www.firstbitcoin.io

follow us on Twitter; @1stBitCapital

follow us on Linkedin: https://www.linkedin.com/company/first-bitcoin-capital-corp/

follow us on FaceBook: https://www.facebook.com/BITCF/

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.

SOURCE: First Bitcoin Capital Corp.

Online Cannabis Sales Are About To Flourish With The Rise Of Cannabis Marketplaces

September 5, 2019 ..... by Joresa Blount

Will revenue for the cannabis market continue to climb?

With a market cap inching ever closer to $1 trillion, Amazon is the largest company in the world. It got there by capitalizing on society’s ever-increasing reliance on e-commerce, delivering products faster and more conveniently than physical retailers.

Over the last two decades, nearly every facet of the retail sector has been transformed by the web. Companies are now de facto expected to complement brick and mortar establishments with a sleek and easy-to-use online component. Those that don’t miss out on the 14.3 percent of retail sales that are now made online, a figure that grows higher every year.

But one subsector that’s faced considerable difficulties in transitioning online is cannabis. Many companies are still struggling to reconcile newly legal product lines with strict government regulations regarding digital sales of cannabis. On top of that, major online services like PayPal, MailChimp, and Wix are electing to steer clear of the industry altogether. Even marketing cannabis products can present a whole new set of challenges, as companies cannot run cannabis-based ad campaigns on digital giants like Google or Facebook.

None of this, however, can stop the inevitable.

Cannabis is Going Online

Cannabis retail can and must move online. When the Hemp Farming Act was passed last year, demand for CBD products began to skyrocket, and companies en masse turned to the web to help them capture the growing market. CBD is now legal to buy in all 50 states, and according to Marijuana Business Magazine, the vast majority of hemp-based CBD products are sold online.

When you think about it, cannabis and e-commerce are a match made in heaven. If you’re at home and looking to pick up some cannabis or cannabis-derived products, would you want to get dressed, trudge down the store, wait in line, and potentially have to talk to strangers to place an order? Or would you rather get your cannabis at the click of a button?

Despite the regulation, any retail cannabis or CBD company that’s not establishing itself online is quickly making itself obsolete. Millennials and Gen-Zers who grew up experiencing the Amazon Effect won’t tolerate having to put more effort into buying cannabis than they do buying their food, clothes, or iPhones.

Still having trouble picturing it? According to Cannabis MD’s Knowledge Navigator, CBD online is more popular than Kim Kardashian or Beyoncé.

The only question that remains is: how can retailers successfully move online when governments and tech giants don’t seem to want them there? Where are cannabis-centric solutions that will let companies in the sector take advantage of the e-commerce revolution?

Enter Delivery Platforms and Online Marketplaces

Delivery platforms and online marketplaces are playing a huge role in bringing cannabis retail into the digital age. They currently offer companies the best way to move products online without going through the long and costly process of building up their own digital storefronts.

Eaze delivers medical cannabis throughout California and Oregon and can ship hemp-derived CBD products almost anywhere else in the US. Anyone over the age of 21 can access the platform, peruse the Eaze wellness marketplace, place an order, and have the product delivered to them within 4 to 6 business days.

Similarily, CannaOne recently launched its first online marketplace for the CBD industry. BWell Market provides consumers with all the information they could want about CBD products, from delivery method to purity and biodiversity. The website is already moving more than 100 kinds of CBD edibles, oil drops, and hemp extract products to tens of thousands of consumers throughout the United States. CannaOne is also creating similar CBD online marketplaces in Mexico and Europe and has its eyes on the THC industry as more states and nations abandon prohibition.

By 2024, Americans are expected to spend more than $22 billion a year on CBD and by 2025 as much as $66 billion annually on cannabis products in general. Much of that money will be spent online. As e-commerce continues to redefine retail, convenience will be the determining factor in cannabis consumer preferences. Fortunately for consumers, companies like Eaze and CannaOne will be there to help them buy CBD products online and ultimately deliver the cannabis goods right to their doors.

Online Cannabis Sales Are About To Flourish With The Rise Of Cannabis Marketplaces

September 5, 2019 ..... by Joresa Blount

Will revenue for the cannabis market continue to climb? STOCK
With a market cap inching ever closer to $1 trillion, Amazon is the largest company in the world. It got there by capitalizing on society’s ever-increasing reliance on e-commerce, delivering products faster and more conveniently than physical retailers.

Over the last two decades, nearly every facet of the retail sector has been transformed by the web. Companies are now de facto expected to complement brick and mortar establishments with a sleek and easy-to-use online component. Those that don’t miss out on the 14.3 percent of retail sales that are now made online, a figure that grows higher every year.

But one subsector that’s faced considerable difficulties in transitioning online is cannabis. Many companies are still struggling to reconcile newly legal product lines with strict government regulations regarding digital sales of cannabis. On top of that, major online services like PayPal, MailChimp, and Wix are electing to steer clear of the industry altogether. Even marketing cannabis products can present a whole new set of challenges, as companies cannot run cannabis-based ad campaigns on digital giants like Google or Facebook.

None of this, however, can stop the inevitable.

Cannabis is Going Online

Cannabis retail can and must move online. When the Hemp Farming Act was passed last year, demand for CBD products began to skyrocket, and companies en masse turned to the web to help them capture the growing market. CBD is now legal to buy in all 50 states, and according to Marijuana Business Magazine, the vast majority of hemp-based CBD products are sold online.

When you think about it, cannabis and e-commerce are a match made in heaven. If you’re at home and looking to pick up some cannabis or cannabis-derived products, would you want to get dressed, trudge down the store, wait in line, and potentially have to talk to strangers to place an order? Or would you rather get your cannabis at the click of a button?

Despite the regulation, any retail cannabis or CBD company that’s not establishing itself online is quickly making itself obsolete. Millennials and Gen-Zers who grew up experiencing the Amazon Effect won’t tolerate having to put more effort into buying cannabis than they do buying their food, clothes, or iPhones.

Still having trouble picturing it? According to Cannabis MD’s Knowledge Navigator, CBD online is more popular than Kim Kardashian or Beyoncé.

The only question that remains is: how can retailers successfully move online when governments and tech giants don’t seem to want them there? Where are cannabis-centric solutions that will let companies in the sector take advantage of the e-commerce revolution?

Enter Delivery Platforms and Online Marketplaces

Delivery platforms and online marketplaces are playing a huge role in bringing cannabis retail into the digital age. They currently offer companies the best way to move products online without going through the long and costly process of building up their own digital storefronts.

Eaze delivers medical cannabis throughout California and Oregon and can ship hemp-derived CBD products almost anywhere else in the US. Anyone over the age of 21 can access the platform, peruse the Eaze wellness marketplace, place an order, and have the product delivered to them within 4 to 6 business days.

Similarily, CannaOne recently launched its first online marketplace for the CBD industry. BWell Market provides consumers with all the information they could want about CBD products, from delivery method to purity and biodiversity. The website is already moving more than 100 kinds of CBD edibles, oil drops, and hemp extract products to tens of thousands of consumers throughout the United States. CannaOne is also creating similar CBD online marketplaces in Mexico and Europe and has its eyes on the THC industry as more states and nations abandon prohibition.

By 2024, Americans are expected to spend more than $22 billion a year on CBD and by 2025 as much as $66 billion annually on cannabis products in general. Much of that money will be spent online. As e-commerce continues to redefine retail, convenience will be the determining factor in cannabis consumer preferences. Fortunately for consumers, companies like Eaze and CannaOne will be there to help them buy CBD products online and ultimately deliver the cannabis goods right to their doors.

Libra Association’s Crypto Members Remain Unfazed by Regulatory Backlash



Coindesk ..... August 27, 2019 ..... by Brady Dale


Libra Association’s Crypto Members Remain Unfazed by Regulatory Backlash
Since first being announced in June, Facebook’s proposed Libra cryptocurrency has drawn the ire of lawmakers and regulators worldwide.

But, according to sources close the Libra Association, that was to be expected.

“We always knew this was something that was going to be hard,” one such source told CoinDesk ....


.... However, some of the project’s founding 28 members – which include Visa, PayPal, Uber and other tech and payments giants – haven’t remained as steadfast in their commitment, according to recent media reports.

The Financial Times reported last week that two unnamed members of the Libra Association were considering pulling out of the project, citing the harsh glare of the “regulatory spotlight.”

Follow-up reporting by CoinDesk, however, has found that the Libra Association’s crypto contingent – Coinbase, Xapo, Anchorage and Bison Trails – remains publicly optimistic about the project.

Unshaken?

Libra’s crypto-native members seem ready to ride this one out ....


.... Both Andreessen Horowitz (a16z) and Union Square Ventures – the two venture capital firms in the Libra Association most closely associated with blockchain investing – confirmed to CoinDesk that they remain committed to the project.

The CEOs of alternative banking company Xapo and blockchain infrastructure startup Bison Trails both confirmed that they are Libra members with no intention of leaving.

A spokesperson for custody startup Anchorage wrote to CoinDesk:

“The team believes in the mission of Libra and is proud to be a Founding Member of the Libra Association. They are confident that the Association and its members will work through regulatory concerns and look forward to continued conversations with policymakers.”

The only company in the crypto space to give CoinDesk anything short of a categorically affirmative answer was Coinbase.

A spokesperson wrote: “We remain a member, as announced in June.” (Coinbase declined to further clarify its commitment.)

While some companies may be considering leaving, a source close to the Libra Association told CoinDesk that many more have expressed interest in joining, despite the regulatory uncertainty.

Members pay at least $10 million to join, getting in return a Libra investment token that entitles them to a share of the interest generated by the massive pool of fiat currencies and low-risk assets that back the blockchain’s stablecoin.

A source with knowledge of the matter said Facebook and other Libra Association members are currently working toward ratifying the non-profit’s charter.

Most of the narrative surrounding Libra so far has been driven by intense government scrutiny. The effort’s initial helmsman, David Marcus, was grilled by Congress – twice. European Union regulators are reportedly investigating “anti-competitive behavior” related to the project. Tech giant Huawei has reportedly urged Chinese authorities to create a rival.

Meanwhile, a report from Bloomberg Law suggests the Libra Association may begin a new phase of public messaging. According to the report, an Aug. 26 email from the association’s managing partner, Bertrand Perez, was clear:

“It’s time for us to speak up individually and collectively and build some momentum coming into the end of 2019.”

Zack Seward contributed reporting.

How do you see this information as it relates to BITCF, planetary?

The People’s Bank of China’s “imminent” move to launch the country’s own sovereign digital currency underlines the central bank’s urgency to tighten its grip on the nation’s deposit pool and help banks catch up with their mobile payment business, analysts said.

China Places Libra Next To Alipay and WeChat Pay -- And It Could Change The Game For Bitcoin


August 24, 2019 ..... by Panos Mourdoukoutas


China had a couple of kind words for Facebook’s Libra this week, placing it next to Alipay and WeChat Pay; and that could change the game for major cryptocurrencies.

That’s according to a Globaltimes editorial, which sees Libra as an “independent,” “stable,” “convenient,” and “safe.”

“Libra, unlike other cryptocurrencies, has a stable currency value and is convenient and safe to use in cross-border transactions,” writes Li Daokui, author of the op-ed. “In fact, Libra is in many ways the same as Alipay and WeChat Pay. The difference is that Alipay and WeChat Pay are directly pegged with the yuan - 1 yuan in an Alipay or WeChat Pay account equals 1 yuan of fiat money - while Libra is pegged with a basket of currencies. This difference indicates Libra is an independent currency, and one that could very well grow into an important super-sovereign currency.”

Daokui doesn’t mention other cryptocurrencies, like Bitcoin, but he sees the rise of “super-sovereign” currencies as “inevitable.”

“China should take advantage of WeChat Pay and Alipay, among other technological innovations, to increase the cross-border use of the yuan and accelerate the yuan's internationalization,” he says. “The nation should also take an active role in the operation and management of Libra, to establish a foothold in the future international currency battlefield.”

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There’s more.

“China must consider permitting its major firms to join Libra's governing body,” says Daokui. “Instead of rejecting Libra's potential, China might as well join it and participate in its rule setting.”

The Globaltimes op-ed comes at a time when American policymakers are skeptical about Libra, Bitcoin and other major cryptocurrencies. They are concerned about the prospect of these super-sovereign currencies undermining sovereign currencies, as discussed in previous pieces here.

Mark Homeier, CEO at Maxonrow, doesn’t see it that way.

"The relationship between sovereign and super sovereign currencies is not a zero-sum game,” he says. “Both can and should exist, and their adoption in countries with a large unbaked population will be a boon for the global economy. There is ample room for a myriad of super sovereign currencies to thrive alongside fiat and we should all focus on the huge opportunity brought by this technology. The economic benefit that fast adoption of mobile payments brought to China can be duplicated all over the world.”

China’s “endorsement” of Libra seems to be doing exactly that. It recognizes that the relationship between cryptocurrencies and national currencies isn’t a zero-sum game. And that could help other governments warm up, not just to Libra, but to major cryptocurrencies, like Bitcoin, ETH, XRP, and LTC. They can come up with the sound regulations to help cryptocurrency markets operate fairly and efficiently rather than killing them altogether.

Meanwhile, sound regulations can only help increase user trust, a key factor for any cryptocurrency to reach the “tipping point.”

As stated: "All Bitcoin ATMs and Kiosks manufactured and sold in the U.S., and all Bitcoin ATMs and Kiosks operated in the U.S. are believed to be subject to this patent and the company intends to enforce its right upon acquisition of same."

Trump-China Trade War A Boon For Bitcoin


By Richard Morgan ..... August 5, 2019


Turmoil in global stock markets sent the price of the controversial digital coin up more than 7% Wednesday as a falling yuan sent Chinese investors fleeing, according to experts.

That’s because bitcoin, which touts itself as a global currency, is viewed by many Asian investors as a safe haven.

Gold, the original safe haven, also rose on renewed tariff fears, gaining 1.5% to $1,461.30 per ounce, according to precious-metals data provider Kitco Metals.

The price gains came as China let its currency fall below 7 yuan to the dollar — an 11-year low that prompted Trump to accuse Beijing of manipulating its currency amid an escalating trade war.

Michael Novogratz, the former Fortress Investment Group principal who founded cryptocurrency investment firm Galaxy Digital, predicted the global unrest would extend this year’s bitcoin rally.

“$Btc rally could have real legs,” he tweeted on Monday, citing a foreign exchange war, instability in Hong Kong and “the beginnings of capital flight.”

"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of the consumers .....

The privilege of creating and issuing money is not only the supreme prerogative of government ..... but it is government's greatest opportunity .....

By adoption of these principles ..... the taxpayers will be saved immense sums of interest ..... Money will cease to be Master and become the servant of humanity .....

The "money power" preys upon the Nation in times of peace and conspires against it in times of adversity ..... It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy".....

Congress Drew A Fine Line Between Libra And Crypto – That’s A First

July 23, 2019 ..... by Nikhilesh De

Congress might actually get crypto.

That was a key takeaway from last week’s contentious hearings in on Facebook’s Libra project in Washington, D.C.. While giving Facebook executive David Marcus the third degree, lawmakers took pains to distinguish between the social network’s project and the broader cryptocurrency ecosystem.

For example, Sen. Brian Schatz (D.-HI) asked Marcus to explain why Facebook specifically had to build a cryptocurrency, and not just argue what the benefits of a cryptocurrency network could be in general. Rep. Denver Riggleman (R.-VA) hammered Marcus on the security implications of using the RUST programming to implement Libra. And Rep. Warren Davidson (R.-OH) famously asked CoinShares chief strategy officer Meltem Demirors to explain the difference between bitcoin and “shitcoins.”

“Whatever their thoughts on Facebook and Libra, they didn’t paint their thoughts of bitcoin and crypto with the same brush,” said Omer Ozden, CEO of Rocktree Capital, a blockchain-focused merchant bank.

And while some elected officials – cough, Brad Sherman (D.-CA) – may have trotted out reliably anti-crypto tropes such as that Libra would be worse than 9/11, for the most part last week’s hearings indicated a sort of maturity about how lawmakers are approaching the space now.

Even among the members of Congress who were “less knowledgeable” about the space, “I was really impressed to see they knew enough to say ‘we know the hearings are separate from crypto,'” Ozden said. “They at least knew enough to separate that.”

It was a far cry from last year, when lawmakers called for strict regulatory protections in the crypto space, even if those calls ultimately did not result in action.

“We’ve come a long way in terms of the understanding of blockchain technology and cryptocurrencies in Congress,” said Perianne Boring, founder of the Chamber of Digital Commerce, which held a blockchain education event with lawmakers the day after the second hearing.

“It was encouraging to see that there are more members of Congress … that are able to make that distinction between different types of products and services and applications that are available and also being able to understand they’re different,” she said.

Taking action

The Digital Chamber’s Blockchain Education Day saw representatives from just under 120 companies in the crypto space meet with staffers or elected officials from 70 different offices in both the Senate and House of Representatives.

“It is clear that lawmakers are aware of the great potential of this new industry,” said Matthew Trudeau, chief strategy officer at crypto derivatives exchange ErisX. “We were pleased with the depth of discussion and quality of questions we received during the meetings ErisX participated in.”

Likewise, Anthony Tu-Sekine, partner at the law firm of Seward & Kissel LLP, told CoinDesk that the staffers he met with had a “genuine interest” in blockchain, as well as some level of understanding.

“I think it is fair to say that most of their perceptions are formed based on bitcoin and other cryptocurrencies,” he added. “I think it is important that the community take every opportunity to educate the staff about other blockchain applications, to avoid a situation where all of the discourse (and potential legislation) is driven by concerns associated with cryptocurrencies or their issuers.”

In the days before Congress held its hearings, a draft bill began circulating which would prevent companies with more than $25 billion in assets from providing financial services, written by members of the House Financial Services Committee. Rep. Ted Budd (R.-NC) told CoinDesk that in his view, the bill seemed overly broad.

While the bill appeared targeted at Facebook in particular, it could possibly also impact Apple and Google, both of which offer payment services, he said.

Despite Rep. Maxine Waters (D.-CA), chair of the House Financial Services Committee, saying the bill would be discussed during Wednesday’s hearing, the matter did not actually come up for any substantive discussion.

Chen Arad, chief marketing officer of compliance Solidus Labs, said the way the committee appears to be handling the potential legislation was a positive sign.

“I particularly appreciated Chairman Waters repeatedly admitting the committee doesn’t understand the issue well enough, and that they’re looking to learn before they can take legislative action effectively,” he said.

Congress seems interested in taking some action, Boring said. Her hope is that any legislation or other action is informed, with industry stakeholders taking part in the conversation. She concluded:

“We want to make sure whatever that is is not just a knee-jerk reaction to one company.”

BITCF

First Bitcoin Capital Corp. ..... NEWS

First Bitcoin Capital Corp Enters into Binding Agreement in Order To Acquire the Only US Patent for Bitcoin Kiosk/ATM Device and System Integrating Protocol and Method

TEL AVIV, ISRAEL / ACCESSWIRE / July 16, 2019 / FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies and the developer of blockchain powered technology is proud to announce today that it has entered into a purchase agreement to acquire U.S. Patent No. 9,135,787 - “Bitcoin Kiosk / ATM Device and System Integrating Enrollment Protocol and Method of Using the Same.” Known as the “Bitcoin ATM patent” this patent is related to the purchase and sale of cryptocurrencies utilizing a Bitcoin ATM or kiosk that allows customers to purchase Bitcoin or other cryptocurrencies by using cash or debit or credit cards.

Bitcoin ATMs do not require their users to have bank accounts, so customers can simply pay and instantly buy or sell Bitcoin or other cryptocurrencies.

Greg Rubin, Company’s Chief Executive Officer stated, “Being the first ever publicly traded company in the Bitcoin and Blockchain industry, we are always developing, identifying and looking to acquire important intellectual properties, as we believe that this patent will provide us a unique and leveraged position, in addition to our other projects as we continue moving forward into the digital asset and cryptocurrency businesses. This patent complements our innovation in the field.”

According to Coin ATM Radar, there are more than 3,000 Bitcoin ATMs in the United States as of July, 2019, with average daily 3.7 Bitcoin ATM installations in the US.

https://coinatmradar.com/charts/growth/united-states/

All Bitcoin ATMs and Kiosks manufactured and sold in the U.S., and all Bitcoin ATMs and Kiosks operated in the U.S. are believed to be subject to this patent and the company intends to enforce its right upon acquisition of same.

U.S. Bitcoin ATMs represent 13.5 percent of all venues transacting in the digital currency worldwide, according to research by Larry Cermak, head of analysis at The Block.

It is expected that this number of Bitcoin ATMs will continue to rise in the near future with more and more people discovering bitcoin as a payment method and store of value.

First Bitcoin will develop strategies for structuring and implementation of an IP management plan. A business plan prepared by a third party foresees the owner of this unique Bitcoin patent earning more than 50 million dollars in profits over a 5 years period.

The acquisition of the Bitcoin ATM Patent was arranged through the facilities of IPOfferings LLC, a leading patent brokerage, patent valuation and IP consulting services firm."

About First Bitcoin Capital Corp

First Bitcoin Capital Corp (BITCF) (BITCF) (BITCF) began developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and BlockChain-centered Company, we provide our shareholders with diversified exposure to digital cryptocurrencies and BlockChain technologies.

The Company began developing it's own blockchain and cryptocurrency called First Bitcoin (COIN:BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net

https://coinmarketcap.com/currencies/first-bitcoin/

Contact us via: info@firstbitcoin.io or visit www.firstbitcoin.io

Retail Momentum Gathers For CBD Topicals While FDA Decides Its Direction

7-18-19 ..... by William Sumner, Hemp Business Journal Contributor

Hemp-derived CBD is all the rage right now, even as confusion and illegality abound. Prompted by the passage of the 2018 Farm Bill, which legalized hemp and hemp derivatives like CBD, investors and entrepreneurs have been scrambling to capitalize on the increasingly popular substance. The United States Food and Drug Administration (FDA) has tried its regulatory best to pump the breaks on the phenomenon by asserting its authority and cracking down on illicit sales of CBD supplements.

Standing on the sidelines are large-scale national retailers, many of which understand the potential profits but prefer not to pique the ire of federal authorities. While some retailers are staying out of the CBD craze completely, others are splitting the difference by offering topical CBD products, which are less likely to draw the legal wrath of the FDA.

In March, CVS Health Corp (NYSE: CVS) and Walgreens (NASDAQ: WBA) became the first national retailers to announce that they were peddling CBD creams, patches, and sprays in their stores. CVS was selling them in eight states (Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee), while Walgreens marketed them in nine (Colorado, Kentucky, Illinois, Indiana, New Mexico, Oregon, South Carolina, Tennessee, and Vermont).

Following suit, Kroger — the nation's largest grocery chain — announced last month its plans to sell CBD products in 945 stores in 17 U.S. states (Arizona, Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Nevada, Oregon, South Carolina, Tennessee, West Virginia, Washington, Wisconsin and Wyoming).

Both chains were deliberate in noting that their offerings would be limited to topicals, while stopping short of any foods, beverages, or dietary supplements as the FDA determines its policies for oversight and quality assurances.

For now, corporate retailers' selling CBD-infused beauty and skin-care products brings far less legal jeopardy and exposure to liability, which explains their choices in stocking such types of products first. The FDA is tolerating topicals and oils containing CBD, so long as marketers refrain from making exaggerated health claims. Meantime, the FDA is considering any avenues by which companies could add CBD to food and dietary supplements. The agency closed its period for public comment this week, and Dr. Amy Abernethy, FDA's principal deputy commissioner and acting CIO, pledged to provide guidance by the early fall.

Meantime, pharmacies and grocery stores are not the only retail players in the market. Last year, the cosmetics chain Sephora began involving itself with CBD topicals when it started selling a high-CBD body lotion made by the luxury brand Lord Jones through its online shop. Now the company is offering a variety of CBD lotions and body oils in 171 of its retail stores nationwide. Not to be left out, the luxury retailer Neiman Marcus is also offering CBD topicals as well.

The cannabis company Green Growth Brands has likewise made some major in-roads with national retailers. Recently, the company signed with Brookfield Properties and Simon Property Group, two of the largest mall owners in the U.S., to sell branded topical CBD products. The company signed similar deals with Designer Shoe Warehouse and American Eagle.

Perhaps the biggest adopter of CBD topicals yet is the organic grocery chain Whole Foods: With little fanfare, the company has begun selling CBD products throughout its stores, a practice made all the more significant given that Whole Foods is owned by Amazon.com, Inc. (NASDAQ: AMZN).

Should the retail momentum behind such large national retailers be aided by favorable treatment from the FDA, CBD products will truly have made a game-changing impact beyond the countertop of the local gas station.

William Sumner

William Sumner is a writer for the hemp and cannabis industry. Hailing from Panama City, Florida, William covers various topics such as hemp legislation, investment, and business. William's writing has appeared in publications such as Green Market Report, Civilized, and MJINews. You can follow William on Twitter: @W_Sumner.

The post Retail Momentum Gathers for CBD Topicals While FDA Decides Its Direction appeared first on New Frontier Data.

Retail Momentum Gathers For CBD Topicals While FDA Decides Its Direction

7-18-19 ..... by William Sumner, Hemp Business Journal Contributor

Hemp-derived CBD is all the rage right now, even as confusion and illegality abound. Prompted by the passage of the 2018 Farm Bill, which legalized hemp and hemp derivatives like CBD, investors and entrepreneurs have been scrambling to capitalize on the increasingly popular substance. The United States Food and Drug Administration (FDA) has tried its regulatory best to pump the breaks on the phenomenon by asserting its authority and cracking down on illicit sales of CBD supplements.

Standing on the sidelines are large-scale national retailers, many of which understand the potential profits but prefer not to pique the ire of federal authorities. While some retailers are staying out of the CBD craze completely, others are splitting the difference by offering topical CBD products, which are less likely to draw the legal wrath of the FDA.

In March, CVS Health Corp (NYSE: CVS) and Walgreens (NASDAQ: WBA) became the first national retailers to announce that they were peddling CBD creams, patches, and sprays in their stores. CVS was selling them in eight states (Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee), while Walgreens marketed them in nine (Colorado, Kentucky, Illinois, Indiana, New Mexico, Oregon, South Carolina, Tennessee, and Vermont).

Following suit, Kroger — the nation's largest grocery chain — announced last month its plans to sell CBD products in 945 stores in 17 U.S. states (Arizona, Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Missouri, Nevada, Oregon, South Carolina, Tennessee, West Virginia, Washington, Wisconsin and Wyoming).

Both chains were deliberate in noting that their offerings would be limited to topicals, while stopping short of any foods, beverages, or dietary supplements as the FDA determines its policies for oversight and quality assurances.

For now, corporate retailers' selling CBD-infused beauty and skin-care products brings far less legal jeopardy and exposure to liability, which explains their choices in stocking such types of products first. The FDA is tolerating topicals and oils containing CBD, so long as marketers refrain from making exaggerated health claims. Meantime, the FDA is considering any avenues by which companies could add CBD to food and dietary supplements. The agency closed its period for public comment this week, and Dr. Amy Abernethy, FDA's principal deputy commissioner and acting CIO, pledged to provide guidance by the early fall.

Meantime, pharmacies and grocery stores are not the only retail players in the market. Last year, the cosmetics chain Sephora began involving itself with CBD topicals when it started selling a high-CBD body lotion made by the luxury brand Lord Jones through its online shop. Now the company is offering a variety of CBD lotions and body oils in 171 of its retail stores nationwide. Not to be left out, the luxury retailer Neiman Marcus is also offering CBD topicals as well.

The cannabis company Green Growth Brands has likewise made some major in-roads with national retailers. Recently, the company signed with Brookfield Properties and Simon Property Group, two of the largest mall owners in the U.S., to sell branded topical CBD products. The company signed similar deals with Designer Shoe Warehouse and American Eagle.

Perhaps the biggest adopter of CBD topicals yet is the organic grocery chain Whole Foods: With little fanfare, the company has begun selling CBD products throughout its stores, a practice made all the more significant given that Whole Foods is owned by Amazon.com, Inc. (NASDAQ: AMZN).

Should the retail momentum behind such large national retailers be aided by favorable treatment from the FDA, CBD products will truly have made a game-changing impact beyond the countertop of the local gas station.

William Sumner

William Sumner is a writer for the hemp and cannabis industry. Hailing from Panama City, Florida, William covers various topics such as hemp legislation, investment, and business. William's writing has appeared in publications such as Green Market Report, Civilized, and MJINews. You can follow William on Twitter: @W_Sumner.

The post Retail Momentum Gathers for CBD Topicals While FDA Decides Its Direction appeared first on New Frontier Data.

Ohio Lawmakers Vote To Allow Growing Hemp, Selling CBD Oil

PUBLISHED: 07/18/19 ..... By ASSOCIATED PRESS

COLUMBUS, Ohio (AP) — The Republican-led Legislature has passed a measure that would allow Ohio farmers and university researchers to grow industrial hemp and would legalize sales of hemp-derived cannabidiol oil, or CBD.

Federal legislation last year removed hemp from the list of federally controlled substances and now treats the low-THC version of the cannabis plant like other agricultural crops. But existing Ohio law doesn't differentiate between marijuana and hemp.

The newly passed Ohio legislation would allow for cultivation of hemp as long as it contains less than 0.3% THC, the cannabis compound that gives marijuana its high. It would be regulated by the state.

The measure was sent to GOP Gov. Mike DeWine for consideration. It would take effect immediately if he signs it.

Ohio Lawmakers Vote To Allow Growing Hemp, Selling CBD Oil


PUBLISHED: 07/18/19 ..... By ASSOCIATED PRESS


COLUMBUS, Ohio (AP) — The Republican-led Legislature has passed a measure that would allow Ohio farmers and university researchers to grow industrial hemp and would legalize sales of hemp-derived cannabidiol oil, or CBD.

Federal legislation last year removed hemp from the list of federally controlled substances and now treats the low-THC version of the cannabis plant like other agricultural crops. But existing Ohio law doesn't differentiate between marijuana and hemp.

The newly passed Ohio legislation would allow for cultivation of hemp as long as it contains less than 0.3% THC, the cannabis compound that gives marijuana its high. It would be regulated by the state.

The measure was sent to GOP Gov. Mike DeWine for consideration. It would take effect immediately if he signs it.

Demand For CBD Is Making Hemp The Cannabis Cash Crop

July 17, 2019 .....by Craig Giammona and Bruce Einhorn


Mention legal cannabis, and many people think of the weed stores that have sprung up in Boston, Denver, Seattle, and other major U.S. cities. Inside, infused brownies and vape pens are sold next to branded joints and neatly packaged bags of marijuana presented in a way that wouldn’t be out of place in any American mall. In Canada you can even order pot through the mail, and some of the world’s alcohol giants have set up shop there to develop weed beer.

But the business of getting people high is only part of the cannabis craze. Marijuana is still banned for recreational use across much of the world, and even medical access, while expanding, is restricted in most countries. So players in the $340 billion global cannabis market are turning their attention to weed’s less-regulated cousin, hemp.

Marijuana 101

• THC: Tetrahydrocannabinol is the chemical in marijuana that produces a high.
• CBD: Cannabidiol, a nonintoxicating compound, can be derived from hemp and marijuana.
• Cannabis: Hemp and marijuana are both types of cannabis. Hemp faces fewer restrictions because it’s generally cultivated with lower levels of THC.

Hemp is a strain of cannabis whose fibers have traditionally been used in textiles and rope, and farmers can grow it even in countries with strict drug laws because it has different properties from marijuana. Most important to law enforcement officials, it’s low in THC, the compound that gets you stoned. But businesses are buzzed about its other defining characteristic: a higher concentration of cannibidiol, or CBD, a nonpsychoactive chemical at the center of a wellness trend sweeping the U.S. and expanding worldwide.

Global Market Share and Sales by Hemp Product Category in 2018

CBD is being pitched as an all-natural way to alleviate ailments including pain, inflammation, anxiety, and insomnia. Despite a paucity of science to back up such claims, CBD has become a coveted ingredient in a host of consumer products, from skin lotions to sparkling water to tinctures to dog biscuits. The surge in demand is fueling a global Green Rush, even in countries where a legal market for cannabis products was unthinkable just a few years ago. “We are getting phone calls from big pharma groups in Asia, all parts of the world: ‘Can you get product? Can you supply to us?’ ” says Glenn Davies, chief executive officer of industrial hemp grower CannAcubed Pte. The Singapore-based startup planted its first commercial hemp crop in May in China’s Yunnan province. “It’s all about hemp.”

One of the first plants ever domesticated, cannabis was used for thousands of years for fiber, food, and medicine. Yet for the better part of the last century it’s largely been traded on the black market, banned in many countries alongside cocaine, heroin, and other controlled substances. Much of that bad-boy reputation faded last year when Congress legalized CBD in the U.S.

Researchers estimate the market for CBD in the U.S. alone could be worth almost $24 billion by 2023. In Canada sales of legal cannabis may reach $4.7 billion by that time, up from about $570 million last year, according to BDS Analytics. Annual sales of CBD could potentially be larger than those of marijuana, analysts say, because of the large number of products in which it can be used.

Investors are pouring money into massive CBD extraction facilities and processing plants in the U.S., hoping to be ready when Coca-Cola Co., Procter & Gamble Co., and other consumer giants finally embrace cannabis. Colorado CBD company Mile High Labs has developed technology to remove unrefined hemp extract from the plant, and it recently paid $18.8 million for a 400,000-square-foot former Novartis factory where it will make products such as lotions and tinctures.

American farmers are plowing into the hemp industry in Colorado, Kentucky, Montana, Oregon, and other states. This year, more than 200,000 acres of hemp are licensed to be planted in the U.S., up from roughly 25,000 two years ago. Asia, which has a long history with natural medicines, is also seeing growing interest in cannabis. In 2017, China planted at least 113,000 acres of hemp, according to New Frontier, an industry researcher. Cultivation is also on the rise in Colombia, Greece, Jamaica, and even the southern African nation of Lesotho. “You get the domino effect: The farmer in Bulgaria looking across at peers in Greece and asking questions, putting pressure on the government to make similar steps,” says Shane MacGuill, an analyst at Euromonitor International. “The more it happens, the more quickly we get the spread of cultivation.”

Hemp producers in Asia and other lower-cost regions could ultimately undercut U.S. farmers, especially as the quality of their crop improves and a global market takes shape, with hemp moving freely across borders like any other agricultural commodity. In June, CannAcubed leased two factories in Yunnan, one of only three Chinese provinces that allows the production of hemp; it plans to expand them into CBD research and extraction facilities.

Not everyone is so sanguine. Mark Mees, CEO of Setek Therapeutics in New Zealand, sees cannabis becoming another agricultural commodity, with prices racing downward. And Mees, whose company has a license to grow medical marijuana in the country, says the CBD business has been overhyped. “You get a few hippies and that’s great. One thing that’s missing is old-fashioned business sense,” he says. “We will see a train wreck of small companies that completely underestimated the costs and the complexity of what they’re trying to do.”

Global Hemp Sales

Data: Hemp Business Journal

Restrictions on medical pot are loosening globally. More than 50 countries, including Australia, Brazil, and Germany, have legalized access to medicinal cannabis, according to Bloomberg Intelligence, making it easier for farmers to plant hemp or marijuana. But dealing with pot can still be tricky. In New Zealand, companies can grow medical weed only for research, though the government is working on a commercialization plan. Cannasouth Ltd. has struggled as New Zealand’s sole publicly traded cannabis company, with its shares falling 24% since its IPO on June 19.

As countries remove restrictions, cannabis prices could fall. That would hurt farmers, but potentially boost the profit margins of companies using cannabis as an ingredient. Worries about an industry bubble surfaced earlier this year in China after investors flocked to companies linked to cannabis. Regulators sought to rein in the enthusiasm, with the Shenzhen Stock Exchange telling companies to warn investors about uncertainties facing their industrial cannabis projects.

Canadian farmers have seen a hemp boom-and-bust cycle before. The crop was legalized for production in 1998, and farmers benefited when hemp seed took off as a health-food product. Business peaked in 2015 as South Korean demand drove the market. But China, becoming a cheaper supplier for Korean buyers, sucked profit away from Canada’s hemp-seed farmers. Still, that hasn’t deterred Canadians from trying to cash in on CBD. This year, hemp acreage in the country is expected to more than double, to about 82,000 acres.

In Asia, CannAcubed’s Davies is also unfazed by the risks. “Everybody is trying to have the same outcome and objective: Get this industry moving,” he says. —With Ashley Robinson

BOTTOM LINE - Fueled by growing demand for CBD as a health-enhancing ingredient in foods and beauty products, sales of the cannabis derivative could hit $24 billion in the U.S. by 2023.

In a final tweet, he added:

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”

US President Donald Trump Says He’s ‘Not a Fan’ of Bitcoin

July 12, 2019 ..... By Nikhilesh De


Donald J. Trump tweeted Thursday that he is “not a fan” of cryptocurrencies, saying they were “not money” and referencing their price volatility relative to the dollar in his first public comments on crypto since becoming president of the United States.

Trump also criticized Facebook’s Libra cryptocurrency project in subsequent tweets, saying it “will have little standing or dependability” and suggesting U.S. regulators would subject the social media giant to regulation:

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National […] and International.”

(Facebook subsidiary Calibra, which is supposed to develop an open-source wallet for the cryptocurrency, has registered as a money services business with the Financial Crimes Enforcement Network.)

Trump has criticized Facebook in the past for its actions in banning right-wing figureheads, alongside other social media outlets. To date, however, he has not discussed Facebook’s cryptocurrency plans. The company first publicly released its white paper and supporting documentation for Libra last month.

The 45th president held a “social media summit” earlier on Thursday, addressing these concerns.

Regulators and lawmakers across the U.S. have taken notice of Libra, with both the U.S. Senate Banking Committee and the House Financial Services Committee scheduling hearings next week with Facebook’s blockchain lead David Marcus.

The Senate committee in particular has previously expressed concerns about Facebook’s track record with user data and privacy, writing an open letter to the company in May. Marcus responded to the letter earlier this week, telling the lawmakers that Facebook would not itself collect any personal financial credentials.

On Wednesday, Federal Reserve Chairman Jerome Powell also said that Libra should not be allowed to move forward unless and until the company addresses anti-money laundering and know-your-customer concerns, among other issues.

Financial stability is also a factor that Powell addressed, with lawmakers in both houses questioning the fact that Facebook has set up an entity in Switzerland affiliated with the project.

Facebook declined to comment on Trump’s comments.

‘Unlawful behavior’

In his tweets Thursday, Trump took aim at the potential for using cryptocurrencies in illegal activities, citing drug trafficking in particular.

“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he said.

In a final tweet, he added:

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”

While Trump himself had yet to weigh in on cryptocurrencies prior to Thursday, his Treasury Secretary has been a strong proponent of greater cryptocurrency regulations.

Steven Mnuchin has been calling for greater crypto regulation since the beginning of 2018, calling on the G20 to take up the issue during an (at the time) upcoming meeting in March.

This year, the Financial Action Task Force published guidance for central banks, calling for stringent know-your-customer information collection practices. The U.S. Treasury Department held the FATF presidency until the end of June.

“We will not allow cryptocurrency to become the equivalent of secret numbered accounts [and] we will allow for proper use, but we will not tolerate the continued use for illicit activities,” Mnuchin said in remarks prior to the rules’ publication.

In contrast, acting White House Chief of Staff Mick Mulvaney has previously called for a more lenient regulatory framework, saying, “if we over-regulate and discourage people from entering the marketplace, that has bad consequences.”

Fed Chairman Jerome Powell Compares Bitcoin To Gold

July 11, 2019 ..... by Daniel Kuhn


Federal Reserve Chairman Jerome Powell said he can envision a return to an era where multiple currencies are in use in the United States.

During Powell’s testimony before the Senate Banking Committee on Facebook’s planned Libra cryptocurrency, he said: “The size of Facebook’s network means it could be, essentially, immediately systemically important.”

Though the initiative raised “a lot of serious concerns,” including privacy, money laundering, consumer protection, and financial stability, he began to speak favorably about other cryptocurrencies.

“Almost no one uses bitcoin for payments, they use it more as an alternative to gold,” he said Thursday afternoon. “It’s a speculative store of value.”

Powell has stated in the past that the United States should not return to the gold standard. Some took the statement as referring to a call to “drop gold, buy bitcoin.”