Despite legislation being passed in 2017 that allows for cannabis to be used legally for medical use starting July 1, 2019, the state is still years away from its first sale. At least part of the reason is because they are having a difficult time finding a banking solution that is able to get around federal law. State health officials have also said that there will need to be licensing and permitting put in place for patients who want to start a business within the industry. This is according to a report from Leafly.
The West Virginia Treasurer’s office released a statement last month that indicated they were about to cancel and reissue a request for proposals for a banking solution for the industry. They received five applications, but none of them met the requirements.
— MJ Retail Report (@MJRetailReport) July 11, 2019
Treasurer’s Office officials have said they are now in a blackout period and not permitted to common on the process until a banking vendor has been chosen.
Even if there is a banking vendor chosen in the very near future, it looks like the state is still far from cannabis being sold to patients.
“So, the Office of Medical Cannabis, or the OMC, continues to have a goal of two years from the time a banking solution is in place for patients with a serious medical condition to be able to obtain medical cannabis,” Office of Medical Cannabis director Jason Frame said.
While many West Virginians were looking forward to the benefits of medical cannabis, it looks like that option is still very far away.