The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult use and medical marijuana unless it’s produced, sold, and...more
5/29/2024
/ Agribusiness ,
Bank Service Providers ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Department of Justice (DOJ) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana ,
Marijuana Related Businesses ,
Racketeering
On May 21, 2024, the Drug Enforcement Agency (DEA) filed the Proposed Rule to move marijuana from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. In light of the rescheduling marijuana news,...more
5/28/2024
/ Agribusiness ,
Business Expenses ,
Compliance ,
Controlled Substances Act ,
Cost of Goods Sold (COGS) ,
DEA ,
Decriminalization of Marijuana ,
Intellectual Property Protection ,
Investors ,
Labor Regulations ,
Marijuana ,
Marijuana Related Businesses ,
Popular ,
Schedule I Drugs
Over the last several years, there has been a dramatic increase in retail and online sales of products containing hemp-derived and synthetically created cannabinoids. As a result, an increasing number of states are poised to...more
As an increasing number of states across the U.S. are becoming marijuana-friendly, many states are simultaneously attempting to enact more restrictive laws with respect to hemp-derived cannabinoids. Participants in the...more
Based on recent events, it seems likely marijuana will be rescheduled under the Controlled Substances Act (CSA) sometime this year. While many industry experts have discussed the impacts in recent months, many questions still...more
2/1/2024
/ Agribusiness ,
Brand ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Drug Paraphernalia ,
Marijuana ,
Marijuana Related Businesses ,
Trademark Application ,
Trademark Registration ,
Trademark Trial and Appeal Board ,
Trademarks ,
USPTO
On January 8, 2024, the Kentucky Cabinet for Health and Family Services (Cabinet) published its long-anticipated first proposed set of medical marijuana regulations. These proposed regulations set forth the operating...more
On November 7, 2023, voters in Ohio approved Ohio Issue 2, the Marijuana Legalization Initiative (the Initiative), which legalizes marijuana for recreational use in Ohio. Among its key provisions, the Ohio Initiative creates...more
11/7/2023
/ Agribusiness ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Commercial Tenants ,
Decriminalization of Marijuana ,
Dispensaries ,
Licensing Rules ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Foods ,
Medical Marijuana ,
New Legislation ,
Plant Based Products ,
Recreational Use ,
Regulatory Reform ,
Retail Market ,
Social Equity Programs ,
State and Local Government ,
Tax Rates
Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward.
Most recently, the marijuana industry...more
10/18/2023
/ Agribusiness ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Credit Unions ,
DEA ,
Decriminalization of Marijuana ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Insurance Industry ,
Lenders ,
Popular ,
Proposed Legislation ,
Safe Harbors ,
Senate Banking Committee
New laws and regulations are likely to be implemented in both New Jersey and New York in the very near future, which will greatly affect parties’ abilities to work with marijuana businesses.
Regulating Parties that Deal with...more
7/20/2023
/ Agribusiness ,
Business Licenses ,
Cannabis-Related Businesses (CRBs) ,
Distribution Rules ,
Goods or Services ,
Investors ,
Marijuana ,
Marijuana Cultivation ,
New Jersey ,
New York ,
Retailers
Per- and polyfluoroalkyl substances (PFAS) are a class of man-made chemicals used in various industries, such as food packaging, cosmetics, and household products. More than 10,000 chemical substances can be classified as...more
6/29/2023
/ Agribusiness ,
Cannabis-Related Businesses (CRBs) ,
Contamination ,
Controlled Substances Act ,
Hazardous Substances ,
PFAS ,
Popular ,
Product Recalls ,
Soil ,
Toxic Chemicals ,
Wastewater
It is no secret that cannabis businesses and owners remain largely barred from taking advantage of federal bankruptcy protections, leaving distressed marijuana businesses with limited restructuring options. Most often,...more
For financial institutions who engage in marijuana-related banking services, the primary compliance challenge remains the disconnect between federal and state law, as it is still illegal to manufacture, distribute, or...more
6/19/2023
/ Agribusiness ,
Bank Secrecy Act ,
Cole Memorandum ,
Controlled Substances Act ,
Department of Justice (DOJ) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana ,
Marijuana Related Businesses ,
Suspicious Activity Reports (SARs)
Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize...more
3/31/2023
/ Agribusiness ,
Anti-Money Laundering ,
Banks ,
Controlled Substances Act ,
Convictions ,
Credit Unions ,
Decriminalization of Marijuana ,
FinCEN ,
Marijuana ,
Medical Marijuana ,
NCUA ,
Presidential Pardons ,
Racketeering ,
Recreational Use ,
Tax Revenues
Recently an individual employed by Trulieve Inc., who was responsible for grinding and handling cannabis at Trulieve’s cultivation site in Massachusetts, died due to asthma-related complications following exposure to...more