by Amy Wilding-Fox
Founded in 2017, a short-lived Wisconsin-based organization, the National Association of Cannabis Businesses (NACB), shuttered for good on July 31, 2022. The organization was open to cannabis businesses that included growers, suppliers, and legal distributors of THC, CBD, and/or hemp products.
Headed by CEO Marie St. Fleur, NACB was a key contributor to the advocacy for a national standard in the cannabis business. Among their areas of interest, NACB lobbied for a national standard in testing, cash management and banking, cybersecurity, sustainability, and social equity guidelines to help those most affected by the drug war benefit from the budding industry.
They were also a proponent for creating a standard for adult-use recreational cannabis. NACB provided consultation to multiple states on the topic of adult-use, including Illinois and New York.
In a statement on their website and in an email to its members, NACB stated, “Due to current economic conditions, the decision has been made to cease operations.”
Just how this decision will affect the advancement of federal legislation and new state laws remains to be seen, but this could foreshadow a trend, should our economy continue in the direction it is going.
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