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 123

Canna Law Blog

SEPTEMBER 26, 2019

Back in March, former Food and Drug Administration (“FDA”) Commission, Scott Gottlieb, explained it would take several years for the agency to come up with rules that would legalize the use of hemp-derived cannabidiol (Hemp-CBD) in food products, unless Congress stepped in.

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Hemp Law CBD Banking 100

NORML

JUNE 23, 2019

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. Click here to email your lawmakers in support of banking access. Senate Bill 45 would make this policy consistent for juvenile offenders. CA resident?

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Legislation Hemp Decriminalization Agriculture 210

Cannabis Law Report

JULY 1, 2021

Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Compare 5 cannabis-friendly banks and credit unions.

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Banking Compliance Compliance Business 84

Cannabis Law Report

AUGUST 9, 2021

Welcome to our weekly roundup of CBD and hemp-related legal and regulatory news: CBD. CBD brands: Altwell, Charlotte’s Web, Columbia Care, Healer, Lord Jones, Maven Hemp, MD Farma, Peels, Prospect Farms, Puraura Naturals from Enhanced Botanicals, Rae Wellness, Trokie and Verséa Wellness. CStore Decisions. Agri Pulse.

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Hemp CBD Legalization Edibles 105

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 88

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. Senate Bill 1003 / House Bill 2273 to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. AZ resident?

Legislation 193

Legislation Hemp Compliance Compliance 193

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. It now awaits consideration by the U.S.

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Legislation Decriminalization Hemp Patients 196

Canna Law Blog

APRIL 1, 2019

After its introduction on Tuesday, March 26, 2019, the House Financial Services Committee has voted 45-15 to advance the SAFE Banking Act of 2019 to the House floor on a to-be-determined date. Currently, the Safe Banking Act has 152 cosponsors, including 12 Republicans, which is more than one-third of the entire House of Representatives.

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Banking Marijuana Legislation Business 77

NORML

JUNE 14, 2019

Update : SB 51 is scheduled for a hearing in the Assembly Banking And Finance Committee on 6/24/19. Click here to email your lawmakers in support of banking access. Legislation is pending, House Bill 459, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

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Legislation Banking Access Hemp 180

NORML

MARCH 8, 2019

This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. AR resident?

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Legislation Patients Access Seed-To-Sale 194

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. Senate Bill 45 would make this policy consistent for juvenile offenders. Senate Bill 1353 seeks to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

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Legislation Hemp Patients Compliance 166

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 86

NORML

MAY 10, 2019

Senate Democratic Leader Chuck Schumer and House Democratic Caucus Chairman Hakeem Jeffries announced their intentions to introduce legislation known as the Marijuana Freedom and Opportunity Act, to remove marijuana from the Controlled Substances Act (CSA), thus ending the nearly century-long federal policy of criminalization and prohibition.

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Legislation Hemp Compliance Compliance 179

NORML

FEBRUARY 15, 2019

The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. ” At a more local level, the decriminalization policy in Dayton, Ohio went into effect this week. HI resident?

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Legislation Hemp Compliance Compliance 190

SpeedWeed

FEBRUARY 23, 2021

State representatives gave nearly unanimous support Monday to allowing South Dakota-chartered banks to conduct transactions with businesses that have state licenses for marijuana and industrial hemp. Banks would need to conduct higher scrutiny of marijuana businesses under a federal policy. Read more at Keloland ].

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Banking Business Hemp Marijuana 52

Cannabis Law Report

AUGUST 20, 2022

CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Drug Enforcement and Policy Center, August, 2022. Ohio State Legal Studies Research Paper No. 21 Pages Posted: 12 Aug 2022. Cat Packer.

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Banking Access Research and Development Policy 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 77

Cannabis Law Report

MARCH 13, 2019

Here’s their press release in full…… DeJoy, Knauf & Blood LLP Launches Cannabis and Hemp Advisory Practice. The new practice leverages the firm’s in-depth cannabis and hemp industry knowledge and expertise of the tax implications, regulatory environment, as well as critical operating and financial procedures.

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Hemp Business Banking Concentrates 71

NORML

MAY 24, 2019

Click here to email your lawmakers in support of banking access. House Bill 491 would regulate industrial hemp production as well as allow the production and retail sale of hemp-derived CBD products. Click here to email your lawmakers in support of regulating hemp and CBD. CA resident? LA resident? LA resident?

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Legislation Hemp Access Patients 193

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. ALBUQUERQUE, N.M. , Dec.

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Banking Hemp Compliance Compliance 52

Cannabis Law Report

FEBRUARY 9, 2022

Well worth a read if you want to catch up on the state of British banking for cannabis / hemp products… it’s not good! Banks, insurance companies and payment providers are refusing to work with cannabis-related companies throughout the UK, hampering the growth of the industry and leaving many in financial limbo.

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Banking Business Media Access 59

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. No word yet on any change in policy. SBA funds, however, are not. and finally.

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Banking Research and Development Programs Advocacy 106

NORML

APRIL 26, 2019

After Governor Kristi Noem of South Dakota vetoed a bill to regulate industrial hemp production last month, the legislature is set to study the topic during the interim session. Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

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Legislation Compliance Compliance Hemp 179

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. Legal Hemp Growing. The Farm Bill changes the classification of hemp to an agricultural product. This allows the use of hemp fiber, which is generally used for rope, clothing, and other materials, as well as CBD oil. Bank Secrecy Act Compliance.

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Banking Hemp Marijuana Compliance 40

Cannabis Law Report

AUGUST 20, 2019

America’s state legislators come together at ALEC to grapple with public policy issues that didn’t exist five or ten years ago. Legislators and attendees at this solutions-first meeting will consider 25 model policies on free enterprise and individual liberty in the states. Authorizing the Production and Sale of Hemp and CBD.

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Policy Legislation Research and Development Banking 59

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

NORML

MAY 17, 2019

Governor Kevin Stitt (R) of Oklahoma signed legislation into law to permit the retail sale of hemp and hemp-derived CBD products. Governor Kim Reynolds (R) of Iowa signed industrial hemp production legislation into law. Click here to email your lawmakers in support of banking access. CA resident? LA resident? MO resident?

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Legislation Hemp Compliance Compliance 167

Canna Law Blog

DECEMBER 27, 2019

Front and center in these discussions are: 1) the importance of due diligence prior to entering a new business relationship and 2) the importance of a fulsome contract written by at attorney knowledgeable in the hemp industry that accounts for the likelihood that things may not go as planned. Hettervig v. Morell et al. million in damages.

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Hemp Extraction Business Policy 74

Cannabis Law Report

SEPTEMBER 25, 2019

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. It is the first standalone cannabis policy reform bill to ever reach a House floor vote. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 In a vote Tuesday, the U.S.

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Banking Safety Compliance Compliance 55

Cannabis Law Report

AUGUST 16, 2019

Times of CBD reports…… Senator Michael Bennet (D-CO), who is presently working to secure the Democratic nomination for president, issued a letter to the financial authorities, requesting information on banking services for hemp businesses. as well as across the country.

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Banking Hemp Policy Business 40

Cannabis Law Report

APRIL 1, 2022

Following last week’s report that licensed alcohol retailers in Pennsylvania are being denied licenses to sell CBD, we sent a letter to the Pennsylvania Liquor Control Board and Department of Agriculture to urge them to reverse their new policy. It adds the cannabinoid to the definition of hemp. Stay tuned to this space.

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Hemp Banking THC Policy 52

Cannabis Law Report

SEPTEMBER 9, 2021

The current public policies in local and state cannabis ordinance and equity programs may enhance racial disparities if they follow the pattern of exclusion and criminalization that encompass past policies promoted as beneficial to African Americans but uphold racial capitalistic practices. Authored By: By Dr. Ayoka Nurse.

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Policy Research and Development Collective Banking 105

NORML

MAY 31, 2019

Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your governor in support of industrial hemp production. Click here to email your lawmakers in support of banking access. AL resident? IL resident?

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Legislation Banking Access Hemp 123

Cannabis Law Report

NOVEMBER 18, 2021

Sahar Ayinehsazian is based in VS’s Los Angeles office, where she focuses her practice on cannabis banking, corporate transactions, and regulatory compliance. View her full bio at [link]. Jerrico Perez is based in VS’s Denver office, where she focuses her practice on administrative law, regulatory compliance, and licensing.

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Banking Compliance Compliance Law 96

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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Banking Dispensary Legislation Decriminalization 49

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. He also said that he feels legalization at the federal level is an inevitability. Here’s his full presentation.

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Banking Law Legalization Hemp 89