Cannabis biz could trade on stock exchange under new bill (Newsletter: June 24, 2022)



SAFE Banking out of COMPETES; Senate panel passes marijuana security clearance amendment; Vets bill; NC House GOP blocks reform; PA banking approved

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/ TOP THINGS TO KNOW

House and Senate leaders have agreed that cannabis banking language will not be enacted via the large-scale manufacturing bill known as the America COMPETES Act.

  • Lead SAFE Banking Act sponsor Rep. Ed Perlmutter (D-CO) said he will continue to push for its inclusion, and Rep. Earl Blumenauer (D-OR) told Marijuana Moment that supporters will pursue “every single avenue” to get the legislation enacted, including potentially through the new version of the National Defense Authorization Act that cleared committee this week.

The Senate Intelligence Committee unanimously approved an amendment from Sen. Ron Wyden (D-OR) to stop blocking people from working in the intelligence community—including at the CIA and NSA—”based solely on past use of marijuana.”

Reps. Troy Carter (D-LA) and Guy Reschenthaler (R-PA) filed a bipartisan bill that would allow state-legal marijuana businesses to list on stock exchanges like Nasdaq and NYSE.

Reps. Earl Blumenauer (D-OR) and Brian Mast (R-FL) filed a bipartisan bill to allow Department of Veterans Affairs doctors to issue medical cannabis recommendations to military veterans.

North Carolina House Republicans voted in a closed-door meeting not to let a Senate-passed medical cannabis bill advance.

The Pennsylvania House Commerce Committee amended and approved a Senate-passed marijuana banking bill.

/ FEDERAL

The U.S. Embassy and Consulate in Thailand sent a warning to American citizens about the scope of Thailand’s new cannabis laws.

The U.S. Department of Agriculture’s Risk Management Agency tweeted, “Hemp offers new economic opportunities for America’s farmers, and we are pleased to offer #cropinsurance coverage to hemp producers.”

Sen. Charles Grassley (R-IA) tweeted about receiving an award from the Epilepsy Foundation “recognizing my leadership on CBD and medical marijuana research.”

/ STATES

Louisiana Gov. John Bel Edwards (D) signed a bill changing background check processes for medical cannabis businesses.

Florida Democratic gubernatorial candidate Nikki Fried, currently the agriculture commissioner, posted a video of her remarks at a cannabis equity summit she hosted.

New York regulators approved an application process for marijuana processing business, awarded additional cultivation licenses and hired a chief equity officer.

Maine regulators filed notice of rulemaking on marijuana testing, edibles potency, delivery and curbside pickup.

Connecticut regulators received more than 37,000 lottery applications for an initial round of 56 recreational marijuana business licenses.

Michigan regulators published a guide on cannabis business compliance best practices.

Nevada regulators will consider marijuana consumption lounge rules and other business issues on Tuesday.


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/ LOCAL

Washington, D.C.’s Advisory Neighborhood Commission 8C adopted a resolution supporting proposed drug decriminalization and harm reduction legislation.

District attorneys in some New York counties are resisting moves to clear past marijuana convictions.

The Albuquerque, New Mexico City Council approved measures to regulate cannabis edibles.

Denver, Colorado officials sent clarification for people planning to qualify for a marijuana business license under the social equity program using income criterion.

The New York City Council’s Committee on Consumer and Worker Protection will hold an oversight hearing on the cannabis licensing process on Tuesday.

/ INTERNATIONAL

Thai lawmakers are considering legislation to limit home cannabis cultivation and tax large-scale growers. Separately, the Medical Sciences Department developed kits people can use to test whether cannabis exceeds the 0.2 percent THC legal limit. And the Embassy in Jakarta issued a warning that bringing marijuana to Indonesia can result in a death sentence.

Kenya’s National Authority for the Campaign against Drug Abuse is raising concerns about the potential legalization of marijuana.

The Saskatoon, Saskatchewan, Canada City Council’s Governance and Priorities Committee and the Board of Police Commissioners held a joint meeting to discuss drug decriminalization.

Devon and Cornwall, England’s police commissioner said marijuana should be more strictly classified.

/ SCIENCE & HEALTH

A review concluded that “positive treatment effects were seen for some [medical cannabis] products in pain, nausea and vomiting, appetite, sleep, fatigue, chemosensory perception and paraneoplastic night sweats in patients with cancer, appetite and agitation in patients with dementia and appetite, nausea and vomiting in patients with AIDS.”

A study found that “cannabis and alcohol use negatively impact visual function” but that “driving performance was only significantly affected by the higher alcohol dose.”

/ ADVOCACY, OPINION & ANALYSIS

A poll of U.S. adults found that 41 percent would give up cannabis in exchange for a lifetime of always having clean floors.

The Institute for Safe Medication Practices Canada said it is “aware of harmful errors related to the accidental selection of the wrong cannabis product for medical use online, delivery of an incorrect cannabis product, and use of the wrong product at home.”

/ BUSINESS

Curaleaf Holdings Inc., Ascend Wellness Holdings Inc., Verano Holdings Corp., Acreage Holdings Inc. and Green Thumb Industries Inc. are being fined by New Jersey regulators for allegedly selling recreational marijuana during hours that are supposed to be reserved for serving medical cannabis patients.

Curaleaf blocked employees who are represented by a union from receiving holiday pay for Juneteenth.

Challenges to two Compass Pathways psilocybin patents were blocked by the Patent Trial and Appeal Board.

Verano Holdings Corp. announced it filed updated financial statements.

Parallel is asking a federal court to dismiss a shareholder lawsuit alleging securities fraud.

/ CULTURE

Runner Sha’Carri Richardson said she regretted doing an interview with the Today Show about her suspension from the Olympics over marijuana, and called out the U.S. Anti-Doping Agency for its drug testing rules.

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