Canna Law Blog

JANUARY 11, 2020

We are heading into the first decade of scaled commercial hemp production in the United States since the 1920s. Hemp is legal. The international market is taking form and access to banking services is expanding. But the USDA’s interim rules governing the production of hemp threaten significantly this economic juggernaut.

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THC Hemp Supply Chain Concentrates 106

Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

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Banking Hemp Safety Business 40

Cannabis Law Report

JANUARY 30, 2019

European cannabis firms and investors enviously watching the rapid maturation of the multi-billion dollar North American industry may consider something both geographies have in common; the difficulty of getting banks onside. As of September 2018, Forbes reported just 30 percent of cannabis firms in the US had access to bank accounts.

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Banking Hemp Business Cannabis 77

Cannabis Law Report

JANUARY 3, 2022

Hemp Industry Daily Report. Here’s a breakdown of seven federal bills on the docket – plus one state measure – and a look at why they’re important to hemp farmers and business owners. Hemp Access and Consumer Safety Act. Hemp champion Sen. CBD Product Safety and Standardization Act of 2021.

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Hemp Packaging Banking Food 52

Canna Law Blog

MARCH 22, 2019

Department of Agriculture (“USDA”) held a public meeting during which hemp stakeholders shared their opinion on the promulgation of rules to regulate the crop. Specifically, the federal agency is to review and approve “plans” submitted by states and Indian tribes that choose to hold primary regulatory authority over hemp.

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Hemp Supply Chain Agriculture Banking 70

Veriheal

JUNE 17, 2020

Since hemp was federally legalized under the 2018 Farm Bill, it is now considered an agricultural commodity like any other crop. The department’s new memo, released early April 2020 to state and county offices provides clarity on how to process direct or guaranteed loan applications for hemp producers.

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Hemp Agriculture Banking Access 52

Cannabis Law Report

SEPTEMBER 29, 2021

Hemp Roundtable made a lot of national news noise – and it’s no wonder, given the all-star lineup that joined the Roundtable in its virtual DC “fly-in.” The membership subsequently met with the USDA’s new Hemp Work Group, and White House officials that serve the President on agriculture and drug control policy.

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Hemp Banking Legislation Policy 52

Canna Law Blog

APRIL 24, 2020

This is a significant burden on the marijuana industry but as you can see from the response above, hemp producers are not disqualified from federal relief thanks to the Agriculture Improvement Act of 2018 aka the 2018 Farm Bill. In the meantime, if you have any questions feel free to contact our hemp team.

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Hemp Agriculture Food CBD 57

Canna Law Blog

MAY 14, 2019

Banking , intellectual property , food and beverage (and cosmetics ), international trade , domestic trade , state laws , ag production contracts , etc., When it comes to industrial hemp, the 2018 Farm Bill upended all of these things. All told, the amount of private capital flowing into hemp and hemp-CBD is extraordinary.

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Hemp CBD Policy Banking 76

The Blunt Truth

MAY 15, 2020

The big news this week is that cannabis banking is included in the latest federal relief bill. cannabis banking. Whether the Senate will retain this language, considering that they have taken no action on the SAFE Banking Act, is not certain. SBA funds, however, are not. There’s also lots of state news. ” sba loans.

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Banking Research and Development Programs Advocacy 106

NORML

APRIL 2, 2019

Current Office: Senator from Minnesota 2018 NORML Congressional Scorecard Grade: B Co-Sponsored Legislation: STATES Act (2017-2018). When elected to Congress in the 1990s, he co-sponsored legislation that would have allowed for access to medical marijuana. NORML endorsed his campaign for re-election to the Senate in 2018.

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Marijuana Legislation Policy Legalization 277

Veriheal

AUGUST 14, 2023

In a recent controversial move, Mastercard issued a directive to United States banks, ordering them to block cannabis purchases on its debit cards. This new mandate struck a chord because, unlike credit cards, debit cards are linked directly to an individual’s bank account. THC by dry weight.

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Banking Dispensary Cannabis Recreational 98

Canna Law Blog

NOVEMBER 20, 2020

That was expected to change for hemp and CBD businesses after the 2014 Farm Bill, and especially after hemp was legalized as a commodity under the 2018 Farm Bill (and removed from the Controlled Substances Act). GenCanna was a vertically integrated hemp producer and CBD manufacturer.

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Hemp Business DEA Banking 56

SpeedWeed

MARCH 24, 2021

Like the opening bell on the trading floor of the Stock Exchange, the reintroduction in Congress last week of the long-awaited Secure and Fair Enforcement (SAFE) Banking Act and related Clarifying Law Around Insurance of Marijuana (CLAIM) Act was a call to action for carriers and insurance brokers across the country. SAFE Banking Act.

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Banking Business Policy Legislation 52

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Hemp Business Cultivation Banking 71

Canna Law Blog

APRIL 21, 2023

We have more publicly traded cannabis companies than ever thanks to continued state-by-state legalization and the 2018 Farm Bill. That crowdfunding platform hosted two crowdsource offerings for cannabis and hemp companies, which sold up to $2 million of unregistered securities. You can’t make this stuff up.

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Banking Cannabis Business Dispensary 70

Cannabis Law Report

SEPTEMBER 12, 2021

Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry. Here’s his full presentation. September 2021. NCUA Board Member Rodney E. Board Member Rodney E.

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Banking Law Legalization Hemp 89

Cannabis Law Report

AUGUST 5, 2021

Hemp- Hemp would still be an exception to the definition of “cannabis” for regulatory purposes, and regulations would be developed to allow inadvertently “hot” product to pass to a proper cannabis facility. There are no provisions on banking, but making cannabis legal should remove money laundering issues. SAFE Banking.

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Banking Vaping Education DEA 111

Cannabis Law Report

JANUARY 10, 2020

However, the strong growth of marijuana sales and new business entrants began to slow in 2017 and 2018, suggesting the industry may be moving into a more mature stage of development. In the late 1800s, industrial hemp was a common crop, grown predominantly in Kentucky. The State of the Cannabis Industry in the Nation. percent THC.

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Banking Marijuana Collective Recreational 59

Cannabis Law Report

OCTOBER 26, 2019

The company is also lobbying on top cannabis bills in Congress: the SAFE Banking Act , which would give the booming industry access to banks and other financial services; and the STATES Act , which would get federal law out of the way in state-legal cannabis programs. Read the full story on Cannabis Wire. .

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Pharmaceutical Research and Development Banking Therapy 45

The Joint Blog

JULY 15, 2021

Increased access to banking: While many states have legalized the sale and use of cannabis herb, it is still illegal on a federal level. Since the federal law regulates the banking system, banks hardly opted to do business with cannabis companies.

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Banking Retail Access Business 52

Cannabis Law Report

JUNE 16, 2019

Congressional Funding Bill Protects Cannabis Banking and Lets DC Legalize Marijuana Sales . . Federal officials would be blocked from punishing banks for working with marijuana businesses under an annual spending bill released by congressional Democratic leaders on Sunday. Read more. . The top law enforcement officials from 38 U.S.

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Banking Seed-To-Sale Hemp Agriculture 40

Cannabis Law Report

JULY 29, 2022

Redefining Hemp – CAOA proposes to increase the permissible THC (on a dry-weight basis) in “industrial hemp,” which was removed from the CSA under the 2018 Farm Bill, from 0.3% The SAFE Banking Act has passed the House more than six times in the past three years, but continues to stall in the Senate.

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Legislation Legalization Marijuana Banking 52

Cannabis Law Report

MARCH 3, 2020

OTCMKTS: HEMP).”. OTCMKTS: HEMP).”. The article also highlights Hemp, Inc. In this interview Bruce shares the latest news from around the country and about Hemp, Inc. – Unfortunately, OTC’s statement on its website continues to cause a misunderstanding regarding Hemp, Inc.’s s reporting status.

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Hemp Seed-To-Sale Education Research and Development 59

SpeedWeed

JUNE 14, 2021

The Secure and Fair Enforcement in (SAFE) Banking Act. The SAFE Banking Act is a more incremental reform step that would allow cannabis businesses access to the same kind of banking products available for other businesses, including credit and insurance. The Hemp Access and Consumer Safety Act.

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Banking Hemp Legislation Packaging 40

SpeedWeed

JUNE 14, 2021

The Secure and Fair Enforcement in (SAFE) Banking Act. The SAFE Banking Act is a more incremental reform step that would allow cannabis businesses access to the same kind of banking products available for other businesses, including credit and insurance. The Hemp Access and Consumer Safety Act.

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Legislation Banking Hemp Packaging 40

Cannabis Law Report

JANUARY 21, 2022

20, 2022 /PRNewswire/ — Dama Financial (“Dama”), the nation’s largest provider of access to banking and payment solutions for the cannabis industry, has entered into an agreement to acquire GrowFlow Corp. (“GrowFlow”), whose business management and compliance tools have processed more than $3.3

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Supply Chain Compliance Compliance Banking 52

The Cannigma

OCTOBER 10, 2021

The history of cannabis in Greece can be traced back to the ancient Greeks and Romans, who used hemp fiber for boat sails, ropes, clothes, and much more. Would-be medical cannabis patients can gain access if they receive a prescription from a presiding physician. How do Greeks generally view marijuana?

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Legalization Seed-To-Sale Cultivation Patients 88

Cannabis Law Report

JUNE 28, 2022

The commercial regulated cannabis industry, which includes both industrial hemp and marijuana, is in its infancy. No one really knows whether the substance Griner was caught with was a derivative of hemp or marijuana. There is tremendous confusion about hemp-derived products, such as CBD, and whether they are legal.

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Legalization Supply Chain Hemp Cannabis 52

Cannabis Law Report

FEBRUARY 5, 2019

Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Party leaders are also laying the groundwork to vote on a marijuana banking bill soon, Marijuana Moment has learned. Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Mississippi lawmakers reject move to let farmers grow hemp.

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Digestion Banking Hemp Retail 53

Cannabis Law Report

NOVEMBER 7, 2019

A press release issued by Folium April 3, 2019 said Dowty had served as a strategic advisor to create Folium Finance, a collection of financial products and services designed as a new means for cannabis start-ups to get banking services from non-traditional banks. Craig Brand, Lawyer. .

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Hemp Research and Development Banking CBD 104

WeedAdvisor

JULY 7, 2019

But for all its benefits, the relationship between CBD edibles and hemp has taken a familiar dynamic to its THC-rich counterparts. The 2018 Farm Bill legalized hemp, but the legal status of hemp-derived cannabidiol remains in limbo.”. According to AGWeek : “…at the federal level, CBD in food and drink is still illegal.

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Edibles CBD Law Food 61

Canna Law Blog

APRIL 14, 2020

The SBA determined back in 2018 that cannabis businesses wouldn’t be eligible to receive federal loans). FinCEN instituted guidelines to allow for cannabis business to secure bank accounts under certain circumstances even though such activity clearly constitutes money laundering under the Bank Secrecy Act.

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Business Banking Packaging Cannabis 64

Cannabis Law Report

APRIL 26, 2022

Known for its harsh anti-drug policies, Thailand became the first country in South East Asia to legalise medical cannabis in 2018, with the legislation passing in February 2019. This is what they are saying. Cannabis looks promising for wellness tourism. In 2020, 8.6% million by 2022, representing a compound annual growth rate of 5.6%

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Legislation Agriculture Research and Development Banking 52

SpeedWeed

FEBRUARY 20, 2021

Washington’s independent cannabis farmers suffered through several legislative sessions, where bills passed damaged our business prospects before the WSIA held its first Sun Cup competition/fundraiser in 2018 and hired contract lobbyist Bryan McConaughy. The challenges of living without access to affordable and traditional financing.

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Business Dispensary Hemp Agriculture 52

Cannabis Law Report

AUGUST 24, 2019

On September 10, 2018, Katerina Eva Matsa and Elisha Shearer published a Pew Research Center viewpoint on use of social media News Use Across Social Media Platforms 2018. BANKING: The growth? The Republican-controlled US Senate hosted a hearing on cannabis banking on July 23, 2019. ” BANKING: The setbacks? .

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Banking Marijuana Media Patients 49

Cannabis Law Report

JULY 7, 2021

Canada legalised recreational use of the drug in 2018 and to date 16 US states have fully legalised marijuana use (36 allow it for medical purposes). The Cannabis Act was implemented in Canada in October 2018. Filings crept up in 2018 and 2019 but fell in 2020 in line with the industry-wide drop in activity. Holi Hemp LLC.

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Oil Agriculture Cannabis Food 71