Tuesday, November 24, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, November 24, 2020 | Curated by host Shea Gunther

// Canadian Cannabis Sales Increase 108% in September to C$256 Million (New Cannabis Ventures)

// Virginia Will Be A Leader On Marijuana Legalization In The South Governor Says (Marijuana Moment)

// Mike Tyson vs Roy Jones Jr: Boxers will take drug tests but not for Iron Mike’s favourite marijuana (Give Me Sport)


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// Number Of Banks Working With Marijuana Industry Continues To Drop Amid COVID Federal Report Shows (Marijuana Moment)

// Cannabis MSO Jushi plans $50 million expansion in Pennsylvania (Marijuana Business Daily)

// South Dakota’s recreational marijuana law to be challenged in court (Marijuana Business Daily)

// Longtime California cannabis czar Lori Ajax is stepping down (Marijuana Business Daily)

// Canadian Officials Respond To Psychedelics Decriminalization Petition Saying No Legal Changes Needed (Marijuana Moment)

// Report: Canadian cannabis firms received millions in pandemic subsidies (Marijuana Business Daily)


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Wednesday, October 21, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Wednesday, October 21, 2020 | Curated by host Shea Gunther

// Kamala Harris Touts ‘Commitment’ To Marijuana Decriminalization And Expungements Under Biden Administration (Marijuana Moment)

// Campaign Raises $30K To Help Release Cannabis Prisoners In Michigan (Benzinga)

// Massachusetts to limit number of cannabis delivery licenses (Marijuana Business Daily)


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// Recreational cannabis brand and product expansion slow in US markets (Marijuana Business Daily)

// Top Senate Democrat Includes Marijuana Banking Protections In New Coronavirus Relief Bill (Marijuana Moment)

// 4Front Prices C$15 Million Units at C$0.70 (New Cannabis Ventures)

// Neptune Raises $35 Million Selling Units at $2.16 (New Cannabis Ventures)

// Marijuana Legalization In Texas Would Generate Billions In Tax Revenue New Economic Analysis Shows (Marijuana Moment)

// New Jersey Voters Strongly Back Marijuana Legalization And Cannabis Pardons New Poll Finds (Marijuana Moment)

// COVID-19 Was Good For Every Cannabis Company Except Dan Bilzerian’s Which Is Almost Broke: Filing (Forbes)


Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

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House Democrats keep marijuana banking protections in revised COVID bill after delaying legalization vote

A slimmed-down coronavirus relief bill that House Democrats released last Monday again includes marijuana banking protections.

Despite pushback from GOP lawmakers who challenged the germaneness of including the cannabis language in a prior version that the House approved in May, the text of the Secure and Fair Enforcement (SAFE) Banking Act was again inserted into the new legislation. It could get a floor vote as early as this week—and that would mark the third time the chamber has taken up the banking measure in some form in the past year.

The SAFE Banking Act would protect financial institutions that service state-legal marijuana businesses from being penalized by federal regulators, and on its own has significant bipartisan support. But its inclusion in the COVID-19 relief legislation was widely criticized by Republicans who insisted that it was part of an expansive Democratic wishlist of items not related to the health crisis.

Senate Majority Leader Mitch McConnell (R-KY) has been particularly critical of the House proposal, specifically taking issue with industry diversity reporting provisions of the SAFE Banking Act, for example. Other vocal opponents include Vice President Mike Pence and Sens. James Lankford (R-OK) and John Kennedy (R-LA).

The Senate did not add cannabis banking language to its own version of COVID relief legislation filed in July.

“We appreciate that Democratic leadership is standing firmly behind the bipartisan SAFE Banking Act, despite some Republicans in Congress preferring to treat this public safety issue like some kind of comic relief,” Steve Fox, president of VS Strategies, told Marijuana Moment. “Far from being non-germane, the pandemic has only underscored the importance of this legislation.”

“At a time when businesses all across the country are relying on electronic transactions to protect public health, cannabis businesses are being forced to exchange currency. This bill is timely and necessary,” he said.

A summary of the banking provision prepared by House leaders states that it would “allow cannabis-related legitimate businesses, that in many states have remained open during the COVID-19 pandemic as essential services, along with their service providers, to access banking services and products, as well as insurance.”

Notably, the document highlights the diversity reporting language that some Republicans have slammed, signaling that Democrats are not shying away from those components despite the criticism. It explains that the legislation “requires reports to Congress on access to financial services and barriers to marketplace entry for potential and existing minority-owned cannabis-related legitimate businesses.”

Advocates, stakeholders and lawmakers have argued that providing marijuana banking protections will mitigate the spread of the coronavirus by making it so cannabis businesses don’t have to rely on cash transactions. House Speaker Nancy Pelosi (D-CA) said she agrees that the measure is an appropriate component of the bill.

“The inclusion of the SAFE Banking Act in the HEROES 2.0 package is a positive development,” NORML Political Director Justin Strekal said. “In the majority of states that regulate the marijuana marketplace, cannabis businesses have been deemed essential during this pandemic.”

“Unfortunately, at the federal level, prohibition compounds the problems that this emerging industry faces,” he said. “Small cannabis businesses in particular are facing tough economic times and access to traditional financial tools will help ensure that they can weather this pandemic.”

While the incremental reform measure would help alleviate financial complications in the cannabis market, news that House Democrats opted to stick to their guns on the industry-focused marijuana banking legislation could frustrate advocates who were disappointed when the chamber’s leadership decided to postpone a planned vote on a comprehensive cannabis legalization and social equity bill earlier this month.

The banking provisions are generally considered industry friendly without addressing the systemic problems resulting from the war on drugs. In the past, some activists have made the case that lawmakers should’t approve the SAFE Banking Act until marijuana is descheduled and restorative justice policies are implemented.

The House was expected to hold a floor vote on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act to federally legalize cannabis last week, but leaders announced they were delaying it after certain centrist Democrats expressed concern about the optics of advancing marijuana reform legislation without first passing additional COVID relief.

All that said, others do view the banking protections as a boon for social equity in that they would help minority-owned cannabis businesses that currently struggle to get access to capital and financial services.

“Without access to much needed capital to maintain throughout the crisis, it is possible that we could see an acceleration of the corporatization of the cannabis industry in a manner that is inconsistent with the values and desires of many within the cannabis space,” Strekal said. “Enactment of the SAFE Banking Act would ensure that small businesses could compete in this emerging marketplace.”

In July, bipartisan treasurers from 15 states and one territory sent a letter to congressional leadership, urging the inclusion of the SAFE Banking Act in any COVID-19 legislation that’s sent to the president’s desk. Following GOP attacks on the House proposal, a group of Democratic state treasurers renewed that call.

The House last year approved the standalone SAFE Banking Act. For months, the legislation has gone without action in the Senate Banking Committee, where negotiations have been ongoing.

This article has been republished from Marijuana Moment under a content-sharing agreement. Read the original article here.

Featured image by Gina Coleman/Weedmaps

The post House Democrats keep marijuana banking protections in revised COVID bill after delaying legalization vote appeared first on Weedmaps News.

Friday, October 2, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, October 2, 2020 | Curated by host Shea Gunther

// Colorado Governor Grants Thousands Of Marijuana Pardons With New Clemency Powers (Marijuana Moment)

// Vermont Bill To Legalize Marijuana Sales In Question After Governor Cites Racial Justice Objections (Marijuana Moment)

// Schwazze backs out of deal to acquire marijuana R&D firm MedPharm (Marijuana Business Daily)


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// Mixed Arizona Marijuana Polls Raise Questions About Legalization Ballot Measure’s Prospects (Marijuana Moment)

// More than one-quarter of Portland’s would-be cannabis retailers face disqualification (Central Maine (Press Herald))

// Michigan Prosecutor Will No Longer Pursue Possession Cases for Psychedelics (Merry Jane)

// Cannabis MSO Acreage raises $33M, partly to pay off higher-interest debt (Marijuana Business Daily)

// California Governor Approves Changes To Marijuana Banking And Labeling Laws (Marijuana Moment)

// Pot prices at Ontario Cannabis Store rival those of illicit market for the first time (Toronto Star (Canadian Press))

// House Approves Marijuana Banking Protections For Third Time As Part Of New COVID Bill (Marijuana Moment)


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Tuesday, August 18, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, August 18, 2020 | Curated by host Shea Gunther

// Democratic State Treasurers Step Up Marijuana Banking Push Following GOP Attacks (Marijuana Moment)

// Local Marijuana Bans In California Keep Illicit Market Alive And Block Revenue, Study Shows (Marijuana Moment)

// Portland likely to miss out on Maine’s first adult-use marijuana sales (Sun Journal (Press Herald))


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// Marijuana Activists Ask Supreme Court To Hear Their Case Against DEA (Marijuana Moment)

// Colorado Rec Shoppers Switching Back To Medical (Green Market Report)

// Ownership equity threshold stirs debate at CCC (Taunton Gazette)

// Massachusetts Senate primary begs the question: Which candidate loves legalization least? (Leafly)

// Curaleaf Q2 Revenue Increases 22% sequentially to $117.5 million (New Cannabis Ventures)

// Marijuana company will destroy $2.6 million inventory of year-old vapes (Boston Globe)

// Seth Rogen’s Pandemic PSA: Swap Partying For Weed And Movies (Fresh Toast)


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Wednesday, January 15, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Wednesday, January 15, 2020 | Curated by host Shea Gunther

// Illinois dispensaries sold more than $19.7 million in recreational marijuana the first 12 days of sales (Chicago Tribune)

// FDA Would Be Required To Allow CBD Product Marketing Under New Bipartisan Bill (Marijuana Moment)

// New Hampshire Lawmakers Take New Approach To Marijuana Legalization For 2020 (Marijuana Moment)


These headlines are brought to you by Curaleaf, one of the leading vertically-integrated cannabis operators in the U.S. With legal medical marijuana dispensaries, cultivation sites, and processing facilities all over the United States, Curaleaf has served more than 165,000 medical cannabis patients and looks forward to helping many more long into the future. Swing over to Curaleaf.com to learn more about this very cool company!


// Chart: Good – not great – first year of medical cannabis sales in Ohio (Marijuana Business Daily)

// Aphria Reduces Outlook as Q2 Cannabis Sales Increase 9.5% Sequentially to $33.7 Million (New Cannabis Ventures)

// Organigram Q1 Revenue Increases 54% Sequentially to $25.2 Million (New Cannabis Ventures)

// Cannabis Beverages in Canada Won’t Pop (New Cannabis Ventures)

// Leading Marijuana Reform Advocate In Congress Weighs In On This Week’s Legalization Hearing (Marijuana Moment)

// Maine lawmaker calls for cannabis banking, insurance reform (Marijuana Business Daily)

// Bernie Sanders Urges Marijuana Industry Workers To Unionize (Marijuana Moment)


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Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
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Tuesday, February 4, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, February 4, 2020 | Curated by host Shea Gunther

// Nearly $40 Million Of Marijuana Sold During Illinois’s First Month Of Legal Sales (Marijuana Moment)

// Colorado Officials Unveil ‘Roadmap’ To Increase Marijuana Banking Access (Marijuana Moment)

// Andrew Yang Makes Case For Legal Marijuana And Mass Drug Pardons As His Kids Play On Stage (Marijuana Moment)


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// Oregon wholesale marijuana flower prices rise after growers exit market, some pivot to hemp (Marijuana Business Daily)

// ‘Everybody’s friendly, everybody’s high’: Marijuana tour buses begin rolling in Chicago with a stop at a private bring-your-own smoking lounge (Chicago Tribune)

// A Certified Organic Labeling Program Is Coming To Cannabis In 2020 (Forbes)

// Whoopi & Maya Cannabis Company Ceases Operations (Celeb Stoner)

// How a cannabis unicorn lost 87% of its market value in six months (Market Watch)

// LP farm sales to improve access, not prices for Ontario consumers (Leafly)

// Cannabis producers asked to stop shipping to Campobello Island by Canada Post (Globe and Mail (Canadian Press))


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Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
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Monday, February 24, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Monday, February 24, 2020 | Curated by host Shea Gunther

// Elizabeth Warren Has A New Plan For Legalizing Marijuana (Marijuana Moment)

// Licensing appeals overwhelm Missouri’s medical marijuana program, point to widespread MJ industry concern about scoring fairness (Marijuana Business Daily)

// Vape crisis forced cannabis sector to increase focus on technology, testing, and transparency (Marijuana Business Daily)


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// House Candidate Gives Marijuana To Voters At ‘First-Ever Congressional Weed Party’ (Marijuana Moment)

// Guidance issued for advertising marijuana products in Maine (Portland Press Herald)

// Legal Pot Sales in Canada Rise 8% in December (Motley Fool)

// Reynolds says she’s comfortable with board recs on medical marijuana (Radio Iowa)

// Secret U.S. document shows Canadians who use legal cannabis ‘not eligible’ for Nexus program (Growth Op)

// Medical Schools Aren’t Teaching Their Students About Cannabis, Survey Finds (Merry Jane)

// Federal Reserve Sends Reminder That Hemp Businesses Can Get Bank Accounts (Marijuana Moment)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
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Monday, March 9, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Monday, March 9, 2020 | Curated by host Shea Gunther

// Coronavirus thwarts plans for SXSW, two more cannabis events (Marijuana Business Daily)

// Utah’s First Legal Weed Dispensary Is Open, But Where Are the Patients? (Merry Jane)

// Virginia Lawmakers Send Marijuana Decriminalization Bill To Governor’s Desk (Marijuana Moment)


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// San Diego lab says almost 80% of illicit cannabis vape cartridges are ‘unfit for consumption’ (10 News ABC San Diego)

// Magic Dragon name doesn’t fly with cannabis commissioners (Worcester Telegram)

// DEA Admits State-Level Marijuana Legalization Reduces Illegal Market Demand (Marijuana Moment)

// Rhode Island poised to triple number of medical marijuana dispensaries (Marijuana Business Daily)

// 50 State Banking Associations Demand Senate Vote On Marijuana Banking Legislation (Marijuana Moment)

// The Ripple Effect of Canopy Growth’s Move From Indoor Growing (Real Money)

// SEE IT: ‘Just glad to be alive,’ says man tackled by cops on Brooklyn street; police commissioner promises probe (NY Daily News)


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Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
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Thursday, March 5, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Thursday, March 5, 2020 | Curated by host Shea Gunther

// Canopy Closing Two Facilities, Laying Off 500, Taking $700 Million Charge (Green Market Report)

// Illinois Sold Almost $35 Million Of Marijuana In Second Month Of Legal Sales (Marijuana Moment)

// Mexican Senate commissions approve marijuana bill legalizing recreational use (Marijuana Business Daily)


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// 3 months in reported cannabis sales total $31.9M, generate $5.3M tax revenue (Oakland Press)

// Texas Cops Are Getting Ready to Bust Spring Breakers for THC Vape Carts (Merry Jane)

// Arkansas can resume issuing medical cannabis licenses, judge says (Marijuana Business Daily)

// Return of free compassion to Cali medical marijuana (Leaf Online)

// Treasury Secretary Won’t Fix Marijuana Banking Problem With Administrative Action (Marijuana Moment)

// Meet the new Boston Cannabis Board (Boston Globe)

// Philadelphia Association Of Black Journalists To Host Cannabis Conference April 4-5 (Yahoo Finance)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
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