United States

Synonyms: 
USA
the states
the US
Thu
25
Mar

Banking still a major hurdle for cannabis industry

While it could take several months or more than a year for marijuana and cannabis businesses to hit the ground running on sales of the product, there’s another challenge facing the industry that will take federal legislation to resolve.

Working with a bank remains one of the challenges for the industry.

Wed
24
Mar

U.S. banks happy to have cardholders buy weed online: Lawyers

Banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online, said lawyers defending two men accused of defrauding banks into processing pot purchases.

“Marijuana is a big business and it’s big business for everyone involved, including the banks,” Christopher Tayback, a lawyer for Hamid Akhavan, told jurors in closing arguments following a three-week trial in Manhattan federal court.

Wed
24
Mar

Dispensaries Could Get a Lift from Stimulus Checks

The stimulus checks that many Americans are beginning to receive this week could also stimulate the cannabis industry, namely the dispensaries. Viridian Capital Advisors said it expects the latest stimulus check will translate to higher than normal retail sales in the near-term, as well as inflated wholesale prices, which are driven by that stronger retail demand.

Wed
24
Mar

FDA Warns CBD Companies For Violations

The FDA said in a statement that the products that are the subject of the warning letters have not gone through the FDA drug approval process and are considered unapproved new drugs.

The U.S. Food and Drug Administration has issued warning letters to two companies for selling products labeled as containing cannabidiol (CBD) in ways that violate the Federal Food, Drug, and Cosmetic Act (FD&C Act). Specifically, the warning letters address the illegal marketing of unapproved drugs labeled as containing CBD. The companies are Honest Globe and BioLyte Laboratories.

Tue
23
Mar

Weed Professionals Give Mixed Reception To Reintroduction Of Cannabis Banking Bill In Congress

In 2019, the SAFE Banking Act, a measure that would prevent federal banking regulators from sanctioning banks for working with legal cannabis businesses, passed in the House of Representatives only to languish in the then

Tue
23
Mar

U.S. Senator Introduces Bipartisan Insurance Bill, CLAIM Act, for Cannabis Businesses

Last week, United States Senator Bob Menendez introduced a bipartisan bill that would help the cannabis industry gain much-needed access to insurance. 

Mon
22
Mar

Cannabis Prohibition Is About To End — Does History Have To Repeat Itself?

Federal cannabis legalization may not help residents of states that currently prohibit cannabis in some form unless those states enact their own legalization measures.

America is on the cusp of legalizing marijuana at the federal level. There appears to be enough support in Congress to amend federal law and make commercial marijuana activities legal. But a federal mandate may not mean that recreational marijuana will be accessible in all 50 states.

As we near the end of cannabis prohibition in the U.S., it is important that we look at the history of prohibition to better assess the potential outcomes that states’ rights may cause, even after cannabis is federally legal.

Fri
19
Mar

DEA Calls Out Hemp in Latest ‘Drug Threat Assessment’ Report

In its annual National Drug Threat Assessment report, the U.S. Drug Enforcement Administration (DEA) calls out hemp production as a way for drug trafficking organizations to cover up illicit cannabis operations.

In its report, the DEA says a “significant number of hemp businesses and grow operations” are owned and operated by people illegally producing and trafficking cannabis. The agency claims this problem is especially prominent where marijuana production is legal.

Fri
19
Mar

House Reintroduces SAFE Banking Act to Protect and Advance Legal Cannabis

The US House just reintroduced the Secure and Fair Enforcement (SAFE) Banking Act, an act that if passed, would help the cannabis industry have access to financial services.

Wed
17
Mar

Mexico is about to legalize marijuana, which will put pressure on Biden to do the same

Mexico’s likely approval of a law legalizing marijuana — possibly next month — could make it the world’s most populated country to authorize cannabis for medical and recreational purposes. That would have a big impact on the United States.

Some marijuana industry advocates, such as Mexico’s former President Vicente Fox, say the country’s expected passage of this law will push the Biden administration to legalize weed at the federal level in the United States.

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