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Update: DOJ and SAFE Banking Act

Canna Law Blog

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

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Weekly Cannabis Roundup October 22

Veriheal

Most New Yorkers can now safely indulge in cannabis without fear of being fired, Bank of America is under fire for closing the account of an authorized cannabis research institute, and proposed legislation could help Washington, D.C. Bank of America Closes Account of DEA-Approved Cannabis Researcher.

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The Week in Weed: September 4, 2020

The Blunt Truth

It’s been a busy week for the Golden State. Assembly Bill 1525 allows cannabis banking under California state law. In other news, a federal court ruled that the state must turn over information concerning three marijuana businesses to the DEA. The legislature approved two marijuana measures.

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Canna Law Blog – Harris Bricken: Top 6 Ketamine Clinic Questions Asked and Answered

Cannabis Law Report

Cannabis cannot be lawfully prescribed by physicians; physicians can only “recommend” its use to patients based on individual state laws that identify who qualifies as a patient for its use. This answer depends on state law. That’s about it though. Can anyone own and operate a ketamine clinic?

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American Bar Association Urges Congress To Let States Set Their Own Marijuana Policies

SMPL

Though ABA specified that it was not taking a position on marijuana legalization generally, it recognized that conflicting federal and state cannabis policies are untenable and have created complications for cannabis businesses operating in compliance with state law.

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Cato Institute “Cannabis Banking: A Clash Between Federal and State Laws”

Cannabis Law Report

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking. That can prove costly.

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The Lawsuit to End Federal Cannabis Prohibition Wouldn’t Really End Federal Cannabis Prohibition

Canna Law Blog

In short, state-legal marijuana businesses would be treated more like other businesses, outside of the frustrating prohibition on marijuana crossing state lines. They would get similar access to banking, SBA loans, and federal tax treatment, for starters.

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