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Update: DOJ and SAFE Banking Act

Canna Law Blog

This is definitely an issue with these piecemeal cannabis bills: there will always be collateral effects regarding compliance with other, existing federal laws. This is definitely an issue with these piecemeal cannabis bills: there will always be collateral effects regarding compliance with other, existing federal laws.

Banking 81
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TCPA Litigation: An Update

Canna Law Blog

Duguid , and narrowed the definition of the “automatic telephone dialing system” (“ATDS”) to only those devices that generate random or sequential phone numbers (which are now largely obsolete). And, there is definitely an uptick in claims under state laws that mirror the restrictions of the TCPA.

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California Large Licensing Gets Really Small

Canna Law Blog

To summarize my earlier post, the state will allow cultivators to apply for larger licenses than were previously available. One of the key issues here though – which state law mandated years ago – was that large license holders couldn’t own testing labs, microbusinesses, and distributors. More on that below.

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Bipartisan Group of Senators Introduces Bill to Regulate Hemp and Hemp-Derived CBD in Food

Cannabis Law Report

Consistent with the definition of “hemp” under the Agricultural Marketing Act, this exception would only apply to extracts from the plant Cannabis sativa L. Consistent with the definition of “hemp” under the Agricultural Marketing Act, this exception would only apply to extracts from the plant Cannabis sativa L.

Food 100
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Are 504 Private Placement Security Offerings Allowed in Cannabis Businesses?

Canna Law Blog

Federal laws preventing money laundering and other financial crimes create regulatory hurdles so significant for most major banks to service cannabis businesses that it just isn’t worth the compliance burden. Howey tells us All private capital raises implicate securities laws. Supreme Court case SEC v.

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Cannabis Banking Today

Canna Law Blog

In that piece, I also explained that FIs don’t really use the SBA definitions set forth above. Instead, early, state-chartered CUs began using a three-tiered system to analyze potential MRB clients within the FinCEN framework. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

Banking 81
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Minnesota’s New Recreational Cannabis Law Results in First-Of-Its-Kind Drug Testing Scheme

The Blunt Truth

Starting August 1, 2023, Minnesota will provide protections to individuals who use cannabis for recreational purposes, after Minnesota Governor Tim Walz signed a state law allowing adults 21 and older to use recreational cannabis. The new law amends the state’s Consumable Products Act to protect off-duty cannabis use.

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