The National Association of Cannabis Businesses (NACB) has announced that it will convert to a not-for-profit organization later this year.

Originally launched in June 2017 as a for-profit corporation, the mission of the NACB has been to support the compliance, transparency, and growth of cannabis businesses in the U.S.

As a not-for-profit, the new NACB will be a member-driven organization created to become the cannabis industry’s most reliable source of information on how best to fulfill the potential of the new cannabis economy. It will grow into a self-sustaining not-for-profit organization with member-benefiting activities, such as certification and education.

The NACB is the only self-regulatory organization whose mission is to support the compliance, transparency, and growth of legal cannabis businesses in the U.S. Led by a team of government, legal, banking and data security experts, the NACB helps member businesses establish voluntary national standards that demonstrate business and compliance practices to consumers, regulators, and financial institutions. The NACB also provides members access to expertise, tools, and services that help them enhance the value of their business and navigate the complex web of constantly shifting regulations.

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