Monthly Archives: September 2013

Bitcoin gaining market-based legitimacy as XBT

"Punctual trams run quietly along the street out front. It looks like any other office building in Zürich. But inside the nondescript building of SIX Interbank Clearing, a small unit of professionals maintains the list of the world’s currency codes. Last week in that very same building, I had the honor of presenting the bitcoin cryptocurrency to a gathered audience of various bank officials at an e-commerce conference. And I mentioned that the individual, or committee, that endorses and finalizes XBT as the ISO currency code for bitcoin will earn their spot in history next to Satoshi Nakamoto." Continue reading →

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Bitcoin: Getting Down to Virtual Currency Basics

"At many credit unions, the apparent upshot of the regulatory signals is confusion. 'The guidance is not straightforward. It is incredibly confusing,' said one credit union CEO who asked for anonymity on the advice of legal counsel. He added that, according to his analysis, there also would be a substantial staff burden in complying with regulatory requirements imposed on a credit union classified as a money transmitter under FinCEN, and he is unsure the costs to process Bitcoin transactions are worth the benefits. 'You have to decide if it is worth it to adhere to the regulations and for us, right now, the answer is no,' he said. But he insisted that door could open if the Bitcoin demand surfaced." Continue reading →

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100 to 115 SWAT raids per day in the US

"We are talking 100 to 115 SWAT raid per day in the U.S., and if we are going to continue to fight the drug war we need to go after these low and mid level offenders. There’s just not enough police man power, there’s just not enough creative non-violent ways to come up with to get them to turn themselves in. This has become the default way to carry out the drug war…bashing into somebody’s home at night. It’s born from just an overwhelming case flows, and also a lack of creativity. You also have a lot of incentives coming from the federal government that encourage warrants to be served this way." Continue reading →

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Police Made One Marijuana Arrest Every 42 Seconds in 2012

"Residents of two states voted to legalize marijuana in 2012, but despite an increase in public support for liberalizing drug policy, American police arrested about the same number of people last year on pot-related charges as in 2011. Data released Monday by the Federal Bureau of Investigation show there were an estimated 1,552,432 arrests for drug-related crimes in 2012 – a slight uptick from the 1,531,251 drug arrests in 2011. Marijuana offenses accounted for 48.3 percent of all drug arrests, a slight reduction from 49.5 percent in 2011, which itself was the highest rate since before 1995." Continue reading →

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Pot And Pregnancy: It’s Harmless, So Why Are Moms Still Prosecuted?

"Weighing decades of research, it’s fairly safe to say that marijuana during pregnancy has very little to no effect on the developing fetus. Unfortunately, child welfare laws in many states do not agree. Some states equate smoking marijuana while pregnant — whether to alleviate nausea, vomiting, stress or depression — with felony child neglect or abuse. Given that marijuana is the most widely used drug by women of child-bearing age, and the potential for women to use marijuana without knowing they’re pregnant, this is a women’s rights issue. Why should a woman surrender autonomy over her body, her children and her approach to motherhood to civil authorities, whether she uses cannabis or not?" Continue reading →

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FDA rewrites opioid narcotic labels to limit use for pain

"The new guidelines will not place formal new restrictions on prescriptions by physicians who treat patients for pain, but administration officials announcing the change made clear they hope to chasten physicians who prescribe the medications for anything other than ongoing, intractable pain. The revision made by the FDA would not just remove 'moderate pain' from the agency’s list of approved uses for the medications: It aims to get patients and their physicians to focus not only on levels of pain, but on how long it can be expected to persist and what alternatives exist to relieve it." Continue reading →

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Medical pot: Will Colorado’s “green rush” last?

"Twenty states have now legalized the medical use of marijuana for the treatment of things like glaucoma, the effects of chemotherapy, and chronic pain; defying federal laws that still consider marijuana more dangerous than cocaine and methamphetamine. In Denver, if you want to find a medical marijuana dispensary, just look for the green cross. You won't have to go far. There are 204 of them in the Mile High City -- that's roughly three times the number of Starbucks and McDonald's combined. They come in all sizes and shapes. There is the health food store motif and '70s style head shops. There are storefronts pitching low cost weed, and boutiques offering gourmet ganja." Continue reading →

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Federal marijuana decision clears way for Oregon hemp production

"Oregon is one of seven states with laws that permit the production of industrial hemp, a non-intoxicating relative of marijuana grown for its sturdy fiber and seeds. Elsewhere in the country, hemp advocates have reacted to the federal government's new position on cannabis by moving ahead with legal hemp production. Kentucky's top agriculture official said the Cole memo is all he needs to move forward. India is the largest market for Canadian hemp by weight, though the United States buys more hemp seed than any other country, generally for food and beauty products. China, also a major international exporter of hemp, tends to produce hemp that's used for textiles." Continue reading →

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Fighting marijuana … or reality?

"Americans are becoming deaf to the critics of pot legalization. Their hyperbolic claims about the dangers of pot -- along with the realistic ones -- are being dismissed by a justifiably cynical public. Anti-marijuana propaganda isn't stopping the march toward national legalization, but the opposition is losing its voice as it screams about the falling sky. A majority of Americans favor full legalization. So why can't the opposition discuss these problems realistically? It's simple: Because the only rational conclusion is that the dangers of pot are not sufficient to warrant its prohibition. Yet those who have an ideological opposition to legalization appear immune to reason." Continue reading →

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