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Chair says cannabis banking will be available in the “next six to eight weeks” (Newsletter, September 7, 2023)

September 7, 2023 by Tom Angell


CA & MA psychedelics, Tribal marijuana vote, FL legalization poll. Prohibs narc against Wells Fargo for cannabis banking. DEA rescheduling its anniversary

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Top Things to Know

Sherrod Brown, the chairman of the Senate Banking Committee (D-OH), said that he is working on a marijuana banking legislation “within six weeks.”

The California Assembly has approved a psychedelics bill passed by the Senate. The bill will now be sent back to the original chamber to consider recent amendments, before it could potentially go to Governor. Gavin Newsom (D)’s desk.

The Massachusetts Attorney General’s Office certified two psychedelics-legalization proposals to be signed for qualification on the ballot in 2024, and provided official summaries.

The Eastern Band of Cherokee Indians’ principal chief, who is voting Thursday on the legalization of cannabis in the tribe, told Marijuana Moment the attempt by a GOP Congressman to intimidate the tribe on the issue could backfire and lead to the reform being passed.

According to a new poll, 60 percent of Florida voters are in favor of legalizing recreational marijuana. This is the exact percentage that a cannabis legalization initiative must exceed to pass if it’s allowed to appear on the ballot in 2024 by the state Supreme Court.

Smart Approaches to Marijuana, a group that advocates for marijuana prohibition, has complained to federal officials about Wells Fargo as well as the state of Maryland. The group claims they are trying to “circumvent” federal laws and regulations by banking cannabis taxes.

Maryland Cannabis Administration reports that retailers sold legal marijuana products worth $91.7 million in August.

On Wednesday, the Drug Enforcement Administration’s administrative law judge recommended marijuana be rescheduled. The agency ignored the recommendation. The date has a new significance in light of the ongoing cannabis review by the Biden administration.

Federal

Sen. Tina Smith, D-MN tweeted: “We don’t yet have the votes needed to legalize marijuana.” The SAFE Banking Act would be a logical step. In states that have legalized retail, such as Minnesota, new shops should be treated the same way as any other business. “Forcing businesses to only accept cash is dangerous and can be a hassle for consumers.”

Rep. Cori Bush, D-MO tweeted: “@HHS recommendation to reclassify cannabis is a positive step. We must completely transform the drug policy of our country. We are pushing for legalization of marijuana, the expungement of criminal records and an end to the War on Drugs.

Rep. Brian Mast (RFL) tweeted: “Floridians know that medical cannabis can help many people, including veterans.” As co-chairman of the bipartisan Congressional Cannabis Caucus I will continue to push for common sense cannabis legislation, such as the Veterans Equal Access Act.

Rep. Ilhan Omar, D-MN, participated in a discussion about cannabis with Hennepin County Attorney.

A total of 69 people have now co-sponsored the House marijuana banking legislation.

/ STATES

The Opioid & Other Substance Use Disorders (OSUD) Study Committee of the Colorado Legislature voted to support the drafting of legislation that would legalize safe consumption locations for illegal drugs.

Delaware Senate Executive Committee to hold hearings on Gov. John Carney (D) was appointed to the Marijuana Appeals Commission by Carney on Friday.

A representative from Ohio said that if the voters approve a ballot initiative legalizing marijuana, lawmakers could seek to repeal provisions on home cultivation.

A Pennsylvania Senator is pushing legislation that will protect medical cannabis users from being unfairly charged with driving while intoxicated.

A Minnesota Senator wrote an op/ed in which he expressed his concerns regarding the state’s legalization of marijuana.

A New York Senator wrote about his bill to reduce the consumption of marijuana-infused food by children.

A Texas judge heard a lawsuit that challenged the restrictions placed by regulators on delta-8 THC-containing products.

Maryland regulators have sent an alert that some marijuana products might not have been stored or handled in accordance with the rules.

Maine regulators are revising medical cannabis regulations.

Washington State regulators have sent an update regarding the application process for marijuana social equity business licences.

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/ LOCAL

A state court found that officials in Keego Harbor, Michigan, improperly kept off the ballot a proposal to regulate marijuana.

The Olmsted County sheriff in Minnesota raised concerns over gun rights conflicts under state marijuana legalization laws.

International

Chief Medical Officer of the Cayman Islands expressed concern about cannabis gummies.

Glasgow City Council Member calls for decriminalization of drugs

SCIENCE AND HEALTH

A study in Ohio found that “significant drug activity has decreased since the legalization of medical marijuana.”

In a series of case studies, “improvement” in olfactory impaired was noted after psychedelic usage.

/ ADVOCACY & OPINION

The Cannabis Impact Prevention Coalition has filed a federal suit challenging the legality New York’s Cannabis Social Equity Fund.

The Coalition for Access to Regulated & Safe Cannabis ran a full page ad in The New York Times criticizing New York Governor. The group blames Kathy Hochul (D), the New York State Governor, for the “total failure” in the state’s marijuana program.

/ BUSINESS

Rise workers in Illinois have ratified the first collective bargaining agreement.

Canopy Growth Germany GmbH has renamed the medical cannabis brand it sells in Germany from Spectrum Therapeutics into Canopy Medical.

Illinois dispensaries have sold medical cannabis products worth $26.5 million in August.

CULTURE

Former footballer Ricky Williams expressed his hope that the NFL would allow teams to use medical cannabis on players after games.

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The article Cannabis Banking in “next 6 weeks”, chair says (Newsletter for September 7, 2023) appeared first on Marijuana Moment.

Tom Angell
Author: Tom Angell

About Tom Angell

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