The Joint Blog

FEBRUARY 20, 2019

Legislation that would protect banks who provide services to medical marijuana businesses has been passed by the full West Virginia House of Delegates. “The purpose of this section is to provide a solution to the banking problems encountered by the state in connection with the Act.”

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Banking Marijuana Collective State Laws 48

NORML

MARCH 20, 2020

“Given the tremendous amount of uncertainty in the broader economy, the hundreds of thousands of American workers who are employed by the state-legal marijuana industry must be respected and protected by the emergency actions being taken by elected officials,” said NORML Political Director Justin Strekal.

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Business Legislation Access Policy 321

NORML

FEBRUARY 27, 2019

Currently, almost none of the businesses operating in the cannabis space can legally obtain a bank account, process a credit card, or take a standard business deduction on their federal taxes. Not to mention it would mark the end of the failed and shameful criminalization of cannabis possession by otherwise law-abiding adults.

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NORML

JANUARY 19, 2020

.” This marks the first time that members of the Energy and Commerce Committee will hear and debate issues specific to marijuana policy reform. Following are the bills that we’ve tracked this week and as always, check NORML’s Action Center for legislation pending in your state. CO resident? FL resident? IN resident?

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Legislation Decriminalization Access Patients 242

Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

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MassRoots

FEBRUARY 11, 2019

420, my bill to legalize and responsibly regulate and tax marijuana,” Wyden tweeted on February 8. It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it.”. 420, my bill to legalize and responsibly regulate and tax marijuana. “I introduced S.420, NEW: I introduced S.420,

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Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications.

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Banking Safety Business History 45

Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. And that puts them and the Americans they do business with at risk. .

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Banking Cannabis Business Safety 40

Canna Law Blog

JUNE 22, 2023

federal prohibition, for example, creates tax headaches, immigration and naturalization concerns, and limitations on access to financial institutions. These new markets create numerous opportunities for business and investment, but at a great cost: U.S.

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Banking Access Topical State Laws 57

Cannabis Law Report

JUNE 3, 2021

For decades, the marijuana industry has been fighting stigmatizing rhetoric, the war on drugs, the smuggler and back alley feel, varying state laws, continued federal prohibition, lack of access to traditional banking, and on and on. To say that marijuana has fought an uphill battle is an understatement.

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NORML

FEBRUARY 22, 2019

Arizona Governor Doug Ducey signed legislation into law this week permitting the production of industrial hemp in accordance with the new federal regulations. New Jersey lawmakers have come to an agreement with Governor Murphy regarding retail marijuana tax rates, settling on charging sales tax by weight as opposed to a specific percentage.

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Legislation Hemp Compliance Compliance 176

The Blunt Truth

JULY 30, 2019

Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate. Banking – here, too, experts caution that there won’t be advancements until the feds legalize.

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NORML

MAY 31, 2019

Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE. The Marijuana Freedom and Opportunity Act would remove marijuana from the Controlled Substances Act and to provide funding for the expungement of criminal records for those with past marijuana convictions.

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Legislation Access Banking Hemp 109

NORML

MAY 24, 2019

An activist group in North Dakota filed paperwork to begin petitioning for another adult use marijuana legalization ballot initiative in 2020. Members of the Massachusetts Cannabis Control Commission have decided to advance plans to regulate social marijuana use facilities. Your Highness, Carly. Actions to Take. AL resident?

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Legislation Hemp Access Patients 164

NORML

MARCH 22, 2019

House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Activists in Oregon have filed a 2020 ballot initiative with the Secretary of State that, if approved, would allow social cannabis consumption sites and protect consumers from employment discrimination.

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Legislation Hemp Patients Compliance 133

Canna Law Blog

MARCH 20, 2023

Why aren’t banks more involved? Despite adoption by a growing number of states, marijuana is (still) federally illegal. 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.

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Business Banking Compliance Compliance 74

The Joint Blog

APRIL 14, 2020

During the COVID-19 pandemic Colorado has temporarily made the online sale of recreational marijuana legal, “fulfilling one of the pot industry’s biggest wishes and fueling its argument for more concessions that could be made permanent when the crisis eases”, reports the Associated Press.

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SMPL

AUGUST 14, 2019

The American Bar Association (ABA) adopted a resolution on Monday that calls on Congress to allow states to set their own marijuana policies and recommends rescheduling or descheduling cannabis under federal law. The report goes on to describe how its recommendations would help resolve some of these issues.

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The Herb Collective

APRIL 29, 2019

So, what should you know about California’s marijuana laws, and how do they impact on you? A Cash-Only Industry The final California cannabis regulations still haven’t fixed the banking problem. With penalties for breaking them remaining punitive, it makes sense to adhere to state laws for the greater good.

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Canna Law Blog

NOVEMBER 17, 2021

Many states have examined Rule 1.2(d) d) issues presented by state legalization of marijuana, whether for medical or adult use. States have been looking at this issue for ten years now in the context of marijuana. The Arizona State Bar was the first to issue an ethics opinion, back in 2011. b): Misconduct.

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Cannabis Law Report

SEPTEMBER 23, 2022

The SHIP Act, filed on September 14, 2022, seeks to also provide authority for “small cultivators of marijuana and small cultivators of marijuana products” to ship marijuana in the mail directly to consumers located in California or another state where the possession of marijuana or the marijuana product is lawful by that individual.

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Law Business Cannabis State Laws 52

NORML

MAY 17, 2019

Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE. The Marijuana Freedom and Opportunity Act, to remove marijuana from the Controlled Substances Act and to provide funding for the expungement of criminal records for those with past marijuana convictions.

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Legislation Hemp Compliance Compliance 133

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 69

Cannabis Law Report

MARCH 26, 2020

Given the tremendous amount of uncertainty in the broader economy, the hundreds of thousands of American workers who are employed by the state-legal marijuana industry must be respected and protected by the emergency actions being taken by elected officials,” said NORML Political Director Justin Strekal.

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Business Legislation Access Policy 59

Canna Law Blog

MAY 14, 2019

Banking , intellectual property , food and beverage (and cosmetics ), international trade , domestic trade , state laws , ag production contracts , etc., marijuana companies , too, and there are quite a few of them these days. More access to institutional capital. That exchange takes U.S. hemp companies?

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Hemp CBD Policy Banking 75

Cannabis Law Report

JULY 22, 2019

In a joint op-ed in Fox Business today, American Bankers Association President and CEO Rob Nichols and Credit Union National Association President and CEO Jim Nussle called on lawmakers to resolve the existing conflict between federal and state law with respect to proceeds from cannabis-related businesses.

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Banking Safety Business Legislation 40

Cannabis Law Report

MAY 28, 2022

Despite progress over the past decade, the cannabis industry still struggles to access a fundamental piece of the U.S. Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. The State of Banking. economy: the financial system. That can prove costly.

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Banking State Laws Law DEA 52

Cannabis Law Report

SEPTEMBER 16, 2022

The program is a “limited license” regime, under which a set number of vertically integrated “Medical Marijuana Treatment Centers” are licensed to cultivate, process, and dispense cannabis to qualified patients. Arkansas also began its medical cannabis journey through a voter-approved amendment to the state constitution.

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Cannabis Law Report

JUNE 26, 2022

Cannabis—also known as marijuana—has been legalized in the last two decades in more than half of the states. Thirty-nine states allow the use of medical marijuana, while 18 states and the District of Columbia permit both medical and recreational marijuana. Barbara Lee, Ph.D.

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Cannabis Law Report

AUGUST 6, 2019

cannabis climate requires brave, willing participants to maneuver carefully in accordance with the medical marijuana rules of engagement for each respective state. Keep in mind that the simultaneous mad dash through the volatile national marijuana minefield starts with a mental, deafening “ BANG!

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Marijuana Research and Development Programs Collective 40

Otherside Farms

FEBRUARY 25, 2019

A few decades ago, you couldn’t open a cannabis dispensary in any state without facing the wrath of the state laws. This is now a thing of the past in most states, thanks to the legalization of the sale and use of cannabis in these states. You’ll now need to consider how you’re going to access capital.

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NORML

APRIL 5, 2019

Governors Doug Burgum (R) of North Dakota and Henry McMaster (R) of South Carolina signed industrial hemp production legislation into law. Six municipalities in Wisconsin voted on non-binding marijuana related ballot questions, with 5 out of 6 passing. Legislation is pending, Senate Bill 661, to amend marijuana possession penalties.

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Legislation Banking Hemp Compliance 182

Cannabis Law Report

AUGUST 8, 2019

THC (legal term “marijuana”) is classified as a Schedule 1 drug and is illegal under federal law for any purpose (with the exception of FDA-approved research programs) by way of the Controlled Substances Act 1970. Attorneys, governing federal prosecution of offenses related to marijuana. In the U.S., Rogers, a U.K.

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Legalization Banking Compliance Compliance 40

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Guam became the first US territory to send a bill legalizing the adult-use of marijuana to the governor’s desk in 2019. Earlier, a similar bill was overwhelmingly passed in the State House. House Judiciary Committee.

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Legislation Decriminalization Hemp Patients 162

Canna Law Blog

NOVEMBER 3, 2023

Here are some prominent examples: Wall Street Journal: Marijuana Businesses Seek to Make Federal Restrictions Go Up in Smoke Marijuana Business Daily: Marijuana companies suing US attorney general in federal prohibition challenge Reuters: Cannabis companies in Massachusetts challenge constitutionality of federal drug law Here’s the deal.

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NORML

JUNE 23, 2019

House of Representatives just voted to restrict the Department of Justice from interfering with the states that have legalized adult-use marijuana. Governor John Bel Edwards (D) of Louisiana signed legislation into law to deschedule hemp and hemp-derived CBD from the state’s list of controlled substances.

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Legislation Hemp Decriminalization Agriculture 181

Cannabis Law Report

JUNE 15, 2022

In addition, the licensees must execute a management agreement with a third-party operator to manage and operate the remaining facilities that the department will continue to permit in compliance with state law. Treasury Seeks Comment on Collecting Marijuana-Related Business Activity Information. On June 8, 2022, the U.S.

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