Friday, April 30, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, April 30, 2021 | Curated by host Shea Gunther

// Key Senate Chair Shifts Stance On Tying Marijuana Banking Bill To Sentencing Reform (Marijuana Moment)

// Louisiana Lawmakers Approve Marijuana Licensing Bill In Anticipation Of Legalization (Marijuana Moment)

// Louisiana Governor Says He Has ‘Great Interest’ In Marijuana Legalization Bill Advancing In Legislature (Marijuana Moment)


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// Canadian Cannabis Sales Grow 74% in February to $263 Million (New Cannabis Ventures)

// Maryland Cannabis Industry Grew By 40 Percent in 2020 (Outlaw Report)

// Legal pot in R.I. ‘inevitable’ but may not happen this year State House leaders say (Providence Journal)

// Ascend Wellness Raises $80 Million in IPO (New Cannabis Ventures)

// Gage Cannabis Turns In Solid Fourth Quarter Fiscal Year (Green Market Report)

// Bipartisan Lawmakers Want Federal Protections For Marijuana States In Next Spending Bill (Marijuana Moment)

// Maine Proposal Would Legalize Psilocybin Mushroom Therapy For Adults No Medical Diagnosis Needed (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. • 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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Photo: Geoff Livingston/Flickr

Friday, March 19, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Friday, March 19, 2021 | Curated by host Shea Gunther

// Marijuana Banking Bill Reintroduced In Congress With Broad Bipartisan Support From More Than 100 Lawmakers (Marijuana Moment)

// Schumer Marijuana Bill Will Stop Big Alcohol And Tobacco From Dominating Market He Says (Marijuana Moment)

// ‘It’s inevitable’: Delaware lawmakers introduce bill once again to legalize marijuana (WDEL News)


These headlines are brought to you by MJToday Media, publishers of this podcast as well as our weekly show Marijuana Today and the most-excellent Green Rush Podcast. And check out our new show Weed Wonks!


// California’s provisional marijuana licensing crisis resurfaces possibly disrupting thousands of MJ companies (Marijuana Business Daily)

// Cresco to Buy Massachusetts Cannabis Operator Cultivate for $90 Million With Additional Potential Earnout (New Cannabis Ventures)

// Ontario Cannabis Store appoints sixth president in three years raising industry concern (Marijuana Business Daily)

// Hexo Turns In Solid Quarter As Stock Jumps On The Earnings (Green Market Report)

// Canadian cannabis producer Canopy Growth borrows $750 million (Marijuana Business Daily)

// Marijuana real estate merger creates firm worth $435 million in assets cash (Marijuana Business Daily)

// Bipartisan Senate Bill Would Give Marijuana Businesses Access To Insurance Coverage (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. • 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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Photo: Kevin Harber/Flickr

Thursday March 18, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, March 16, 2021 | Curated by host Shea Gunther

// Congressional Marijuana Banking Bill Will Be Reintroduced On Thursday (Marijuana Moment)

// New Mexico Marijuana Legalization Bill Heads To Senate Floor Following Contentious Committee Hearing (Marijuana Moment)

// Schumer Weighs In On New York Legal Marijuana Talks Applauding Legislature And Snubbing Cuomo (Marijuana Moment)


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// Montana’s legalization plan: Homegrow bans THC caps 20% taxes. Yay? (Leafly)

// Regulators crack down on Michigan credit unions marijuana banking (Marijuana Business Daily)

// Field Trip Closes On $95 Million Supersized Offering (Green Market Report)

// Sundial Reports Full Year and Fourth Quarter 2020 Financial and Operational Results (Cision PR Newswire)

// Green Thumb Industries Reports Solid Quarter Beats Estimates (Green Market Report)

// GrowGen Makes Seventh Acquisition And It’s Only March (Green Market Report)

// New Hampshire’s Medical Marijuana Dispensaries Now Support Letting Patients Grow Their Own (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. • 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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Wednesday March 17, 2021 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, March 16, 2021 | Curated by host Shea Gunther

// Connecticut House Speaker Says ‘Optimism Abounds’ As Marijuana Legalization Negotiations Proceed (Marijuana Moment)

// Legalizing Marijuana Has Been A ‘Uniformly Positive’ Move In Washington State Governor Says (Marijuana Moment)

// Oregon Governor Appoints Panel To Implement Historic Legal Psilocybin Therapy Measure (Marijuana Moment)


These headlines are brought to you by Agilent, a Fortune 500 company known for providing top-notch testing solutions to cannabis and hemp testing labs worldwide. Are you considering testing your cannabis in-house for potency? Agilent is giving away a FREE 1260 HPLC system for one year! If you are a Cultivator, processor, or cannabis testing lab you may qualify for this giveaway. Open up bitly.com/cannabis-contest to answer a few quick questions to enter to win!


// California awards $15 million more in cannabis social equity grants (Marijuana Business Daily)

// Ann Arbor to put $476K in new marijuana revenue to social equity programs (Michigan Live)

// Majority Of Florida Voters Back Marijuana Legalization And Oppose THC Limits, New Poll Finds (Marijuana Moment)

// Columbia Care Beats On Revenue, Misses On Earnings (Green Market Report)

// Village Farms Cannabis Sales Grow 2% Sequentially to $17.3 Million in Q4 (New Cannabis Ventures)

// It’s completely legal, but still the hemp industry has trouble finding banks – here’s why (Columbus Dispatch)

// State’s first on-site consumption cannabis bar set to open (KFVS 12 CBS)

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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Photo: Dannel Malloy/Flickr

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)


These headlines are brought to you by MJToday Media, publishers of this podcast as well as our weekly show Marijuana Today and the most-excellent Green Rush Podcast. And check out our new show Weed Wonks!


// 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)


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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Photo: Don Goofy/Flickr

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)


These headlines are brought to you by Curaleaf, one of the leading vertically-integrated cannabis operators in the U.S. With legal medical and adult use marijuana dispensaries, cultivation sites, and processing facilities all over the United States, Curaleaf has served more than 350,000 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!


// 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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Photo: Shahid Durrani/Flickr

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

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