State AG Pulse | Is SAFER Banking Finally Coming To The Cannabis Industry?
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
The cannabis industry has undergone massive and rapid change, but federal regulations governing the sale and purchase of cannabis have failed to keep pace with either social change or moves to legalize across the nation,...more
2023 is just getting started, and already there have been important developments in Ohio involving cannabis with the promise of much more to come. Secretary of State Frank LaRose got things started on January 3 when he...more
I’m not proud of it, but I’m the resident cynic amongst the editorial staff here at Budding Trends when it comes to federal marijuana reform. And after all, someone has to temper the frivolous whims of others. But we’re...more
Over 50 years ago President Nixon declared a “War on Drugs,” leaving housewives over the country proclaiming marijuana to be the devil’s lettuce and urging sweet Billy to steer clear of the gateway drug...more
This is the first in what we hope will be a regular feature where our editors – Whitt Steineker, Jay Wright, Hunter Robinson, and Slates Veazey – discuss cannabis issues in the news and take a stab at where the cannabis...more
When we last examined marijuana reform at the federal level earlier this year, we warned that perfect can be the enemy of good. Our point was that we should not forego meaningful federal cannabis reform by holding out for...more
Attorney General Merrick Garland has reiterated that the Department of Justice will not prioritize prosecuting marijuana use, a position that Garland expressed during his confirmation hearings. In remarks in front of a Senate...more
Hope soared with the possibility of federal cannabis reform in 2021. And for good reason – the induction of a new, more liberal administration, rapid state-level legalization, broad support by Americans, and growing...more
The Secure and Fair Enforcement (SAFE) Banking Act, which would prohibit financial institutions from being penalized for doing business with marijuana companies, was stripped from the National Defense Authorization Act...more
On Wednesday, July 14, Senate majority leader Chuck Schumer (NY), Senator Cory Booker (NJ), and Senator Ron Wyden (OR) introduced a draft bill to decriminalize marijuana at the federal level. The draft discussion of the...more
It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more
The legal cannabis market is still in its infancy and there is much more room to grow. At the end of 2020, we saw an uptick in merger and acquisition activity as the industry shook off some pandemic-related instability, and...more
While the legalization of medical and recreational marijuana continues to build momentum across the U.S., access to banking and other financial services has remained a consistent barrier to the legal marijuana industry. As we...more
On September 25, 2019, the U.S. House of Representatives approved historic legislation to provide legalized marijuana businesses access to banking services. H.R. 1595, the Secure and Fair Enforcement Banking Act of 2019 or...more
Marijuana is estimated to be a $10 billion industry and rapidly growing. Almost all of it is conducted in cash. Although legal in thirty three states plus Washington, D.C., Puerto Rico and Guam, marijuana remains illegal at...more