With many billions of dollars of business and tax revenue and many jobs at stake, as well as an emerging national debate about legalization, the U.S. cannabis industry has received quite a bit of media coverage. This has been especially true since Colorado and Washington were the first U.S. states to legalize cannabis adult use in 2012, and has morphed into a crescendo of content since California fully legalized in January 2018. And yes, in many cases, in today’s super-competitive world of selling words, at times it seems more about the punny headlines than the substance underneath.
On June 8, 2017, Clifford J. White III, director of the U.S. Trustee Program, proclaimed before a congressional subcommittee that “debtors with assets or income derived from marijuana may not proceed through the bankruptcy system.”
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