Canna Law Blog

JULY 29, 2019

As we reported last week , a Senate Banking Committee hearing occurred this past Tuesday to consider the SAFE Banking Act. But the SAFE Banking Act is narrowly targeted,” she said. “It’s In short, the hearing didn’t display as much GOP sway or support as we were hoping for. hour hearing. It won’t.”.

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The Blunt Truth

SEPTEMBER 29, 2023

The big news this week is that, for the first time ever, a cannabis bill, the SAFER Banking Act, got a markup in the Senate. SAFER BANKING Although the SAFE Banking Act has passed multiple times in the House of Representatives, it’s never gotten out of committee in the Senate. Spoiler alert: the two don’t mix.

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WeedAdvisor

SEPTEMBER 21, 2019

With cannabis reform sweeping across the country, measures life the SAFE Banking Act are welcome by many financial institutions and members of the cannabis industry. However, top Democratic Senator Chuck Schumer feels that the SAFE Banking Act is insufficient and potentially detrimental to legalization. Good Bill, Poor Timing. .

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The Blunt Truth

MAY 28, 2020

Virginia decriminalized marijuana. In federal news, the marijuana banking provisions in the latest relief bill may not be dead on arrival. Regular readers will recall that we reported last month on Virginia decriminalization. The news is mostly happening in the states this week. Oklahoma is having some medical marijuana issues.

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SpeedWeed

MARCH 21, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

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WeedAdvisor

JUNE 10, 2019

If passed, this bipartisan bill would demolish an obstacle that has plagued banks and dispensaries alike. Due to the clashes between laws in legal states and federal laws – which maintain that marijuana is illegal – banks fear federal prosecution if they handle money from otherwise legal dispensaries. Banking Policies. .

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SpeedWeed

MAY 14, 2021

The 14-page legislation isn’t as long-winded but puts the removal of cannabis as a controlled substance, banking protection, reform for veterans and mandated NIH studies at the forefront. The post Several Cannabis Reforms Advance in Louisiana, Including a Decriminalization Bill appeared first on SpeedWeed. Jerrold Nadler, D-N.Y.,

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The Blunt Truth

NOVEMBER 18, 2021

Several governors called on Congress to pass a marijuana banking bill. In 2019, candidate Joe Biden spoke out in favor of decriminalizing cannabis and pardoning those in jail for marijuana-related offenses. Almost half the country’s governors signed a letter calling on Congress to pass a marijuana banking law.

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NORML

MARCH 8, 2019

Lawmakers in several states have recently moved forward legislative proposals to either legalize or decriminalize marijuana-related activities. DECRIMINALIZATION: Hawaii : House members approved HB 1383 , which removes criminal penalties for minor marijuana possession offenses (up to three grams) and expunges past criminal convictions.

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The Blunt Truth

OCTOBER 1, 2020

Cannabis banking appears in the Democrats’ new stimulus bill. New Jersey may decriminalize cannabis. In other federal news, Democrats included the SAFE Banking Act in its latest stimulus bill. Adult-use legalization is on the ballot in New Jersey, but should decriminalization happen before the election? new jersey.

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Cannabis Law Report

FEBRUARY 3, 2022

For background, in 2020 Oregon voters passed Ballot Measure 110 , which decriminalizes simple possession of drugs and requires that all growing marijuana tax revenue goes toward drug treatment centers. House Joint Resolution 205 – State Banking. A state bank run by the State of Oregon could provide these financial services.

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The Blunt Truth

MARCH 12, 2020

As for banking, banking associations around the country sent a letter to Sen. Sherrod Brown (D-OH), asking that the Senate Banking Committee vote on a cannabis banking bill. Virginia passed legislation decriminalizing cannabis, and the governor is expected to sign the bill. Mike Crapo (R-ID) and Sen.

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The Blunt Truth

FEBRUARY 20, 2020

Meanwhile, in Virginia, both chambers of the state legislature passed decriminalization bills. Turning our attention to the federal government, Senate Banking Committee chair Mike Crapo (R-ID) got a letter this week from Republican legislators asking him to oppose marijuana banking.

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NORML

JANUARY 19, 2020

At the state level, a new decriminalization law took effect this week in Hawaii involving the possession of up to three grams of marijuana, as well as a procedure for expungement of past convictions for the same amount. Legislation is pending, A1897, to decriminalize the possession of small amounts of marijuana. NJ resident?

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Cannabis Law Report

APRIL 5, 2019

Since Oregon became the first state to decriminalize cannabis in the 1970’s, I have been working to correct the disconnect between federal cannabis policy and the needs and wishes of the American people.

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Veriheal

DECEMBER 1, 2022

CRO Financial Services: The SAFE Banking Act. The SAFE Banking Act was introduced in 2019 and has passed the House seven times, but it still needs to make it to the Senate floor. Throughout the years, the SAFE Banking Act has been revised and is now referred to as the SAFE Banking Plus Act.

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Veriheal

DECEMBER 22, 2023

In past years, the NAACP endorsed various measures aimed at decriminalizing cannabis. Ademola Oyefeso , UFCW’s Head of Legislative and Political Action, recently appeared before the Senate Banking Committee to advocate for cannabis banking reform — an essential component of the industry’s financial stability.

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Veriheal

APRIL 4, 2022

During Biden’s presidential campaign, he promised voters he would decriminalize marijuana use at the federal level. The following four acts have circulated Congress as potential routes to federal cannabis reform: The SAFE Banking Act. After over a year of presidency, Biden has made no progress on the matter. Nancy Mace (R-S.C.),

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Veriheal

OCTOBER 30, 2023

It has also decriminalized the possession of small quantities of cannabis. The Cannabis Authority consists of nine people, who represent “a faith-based organization, civil society, and one person each from the fields of banking, law, agriculture, scientific research, pharmacy, and medicine.”

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Cannabis Law Report

JANUARY 26, 2022

The Secure and Fair Enforcement Banking Act would have cleared the way for banks to provide financial services to cannabis companies without fear of reprisals by the federal government. Banks currently keep clear of providing these services, even in states where marijuana is legal. None of these bills have passed.

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The Blunt Truth

JANUARY 3, 2022

It means that cannabis business will still be conducted on a state by state basis while some members of Congress continue to advocate for federal legalization or decriminalization of cannabis. The same is true for cannabis banking legislation.

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MassRoots

AUGUST 17, 2020

.” She continued, “While I don’t believe in legalizing all drugs — as a career prosecutor, I just don’t — we need to do the smart thing, the right thing, and finally decriminalize marijuana.”. Making marijuana legal at the federal level is the smart thing to do; it’s the right thing to do.

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The Blunt Truth

DECEMBER 5, 2019

New Jersey is talking about decriminalizing marijuana. Now, Governor Phil Murphy is pushing for statewide decriminalization , as a stop-gap measure. In banking news, the Federal Reserve released guidance this week allowing banks to work with the hemp industry. For our take on that correspondence, see here.

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Cannabis Law Report

DECEMBER 3, 2021

Congressional Republicans have taken a new approach to changing cannabis law, introducing a bill that will decriminalize marijuana, but not legalize it. The bill also eliminates the legal hazards that face many cannabis-related businesses, such as banks, and sets up a system to regulate cannabis much like alcohol.

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Canna Law Blog

MAY 5, 2022

Part two in this series will cover the SAFE Banking Act, the Medical Marijuana Research Act, the Cannabidiol and Marihuana Research Expansion Act, and the Hemp Advancement Act. Like Nadler’s bill, the States Reform Act would decriminalize cannabis federally and defer cannabis regulation to the states, just like alcohol. Reefer Sadness?

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Canna Law Blog

NOVEMBER 13, 2020

Large cities across the country have also adopted decriminalization measures for psilocybin and other entheogenic (psychedelic) plants, including Ann Arbor, Denver , Oakland, Santa Cruz, and most recently, Washington, D.C. but we note that decriminalization is not legalization). Access to Banking. Does it Go Too Far?

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Canna Law Blog

DECEMBER 1, 2021

San Francisco Bank Attorneys Association – California Cannabis Law Update | Monday, December 6th at 12PM PST. We will look at the process and results for Measure 109 (psilocybin licensing) and Measure 110 (controlled substance decriminalization) in Oregon, as well as future efforts to decriminalize, protect and regulate psychedelic drug use.

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The Blunt Truth

JULY 25, 2019

On Tuesday, the Senate Banking Committee had a hearing on cannabanking. Kamala Harris (D-CA) have introduced a bill calling for the decriminalizing of marijuana. What the SAFE Act would do for banking, the CLAIM act would do for insurance. Let’s start with Congress, which had a very busy week.

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Canna Law Blog

JULY 7, 2022

A few weeks ago, we published comprehensive overviews ( Part 1 and Part 2 ) of all the federal bills floating around Congress intended to decriminalize cannabis. SAFE Banking Act Excluded from Manufacturing Legislation. Since then, there have been a few important developments of federal cannabis bills in Congress.

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The Blunt Truth

FEBRUARY 6, 2020

Many lawmakers have criticized the current cannabis banking system. His “Roadmap to Cannabis Banking” lays out a blueprint for state-chartered banks to help the industry. Last year he said legalization was stupid; now he says putting people in jail for possession is dumb and supports decriminalization.

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The Blunt Truth

JULY 2, 2020

FinCen released new guidance on hemp banking. hemp banking. The Financial Crimes Enforcement Network (FinCEN) released guidance on Monday for banks wishing to serve hemp-related businesses. Banks need not file Suspicious Activity Reports because hemp is federally legal and no longer on the controlled substances list.

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The Blunt Truth

MAY 23, 2019

has come out in favor of decriminalizing marijuana but has not indicated support for legalization. In other federal news, Treasury Secretary Mnuchin has said he’s open to the idea of legal cannabis banking, but does not think marijuana businesses should be eligible for opportunity zone tax breaks. See you next week!

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Cannabis Law Report

FEBRUARY 11, 2022

And for good reason – the induction of a new, more liberal administration, rapid state-level legalization, broad support by Americans, [1] and growing bipartisan backing led many to believe that 2021 was going to be the year where federal decriminalization of cannabis would become a reality. House once again.

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NORML

APRIL 5, 2019

Governor Michelle Lujan Grisham (D) of New Mexico signed cannabis decriminalization legislation into law. An Arkansas House committee defeated a decriminalization bill this week to send it to study. Click here to email your lawmakers in support of banking access. Click here to email your lawmakers in support of banking access.

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Cannabis Law Report

JULY 29, 2022

On Thursday, July 21, 2022, Senators Chuck Schumer, Ron Wyden, and Cory Booker unveiled the long-awaited Cannabis Administration and Opportunity Act (CAOA) , which, if passed, would decriminalize marijuana at the federal level and require various federal agencies to establish rules for regulating various aspects of the marijuana industry.

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The Blunt Truth

DECEMBER 31, 2020

Ideas ranged from legalization on day one (Sanders) to decriminalization and expungement (Bloomberg). Virginia decriminalized marijuana. Senator Mitch McConnell (R-KY) objected to including cannabis banking in federal relief programs. Neither of them did. How the Biden administration will proceed is an open question.

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Cannabis Law Report

AUGUST 5, 2021

There are no provisions on banking, but making cannabis legal should remove money laundering issues. The fate of the SAFE Banking Act to enhance banking access for cannabis companies, which Sen. SAFE Banking. Booker is so adamant in his opposition to SAFE Banking. How to regulate synthetic THC. Some Thoughts.

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