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A letter from Treez CEO John Yang
In the not too distant past, there was once an industry that was large, profitable, and entirely underground. Thousands of people got rich working in this industry, but thousands more were unfairly punished by outdated laws, and those profits were hidden from the larger economic outputs of global markets.
Back in January of last year, California’s cannabis industry braced themselves as METRC’s 6-month emergency regulations took effect. Then, as July 1st neared, and the introductory window came to a close, the industry held their breath in anticipation of the state’s track and trace system (CCTT) coming online in full force. But instead of awarding operators with their permanent annual licenses as expected, the state decided to issue blanket extensions to all temporary license holders instead — and did this repeatedly until the end of 2018.