By Alan Hanson There are many articles written about the issues surrounding banking Marijuana-Related Businesses (MRBs), but there are very few that discuss how banks can actually do this. And there are even fewer written by someone who has successfully helped a bank do it! As general counsel and compliance officer for an Oregon credit union, […]
Controlled Substances Act
A Half-Banked Industry — New Cannabis Businesses Need Access To Financial Service
By Adam Crabtree, Andrew Freedman and Crystal Good If you ever open a cannabis business, you will have this meeting: Some really big guys will contact you about your cash problem. A cash problem only they could solve. It will require unmarked, bullet-proof vans, guns, more big guys, and some special relationships with government officials. […]
Drug Enforcement Administration Newly Classifies CBD as Schedule V Controlled Substance for Epidiolex
PRESS RELEASE DENVER, CO.—Sept. 27, 2018 Without regard for clear Congressional intent, the United States Drug Enforcement Administration (DEA) continues to act contrary to the express authorizations provided for in Section 7606 of the Agricultural Act of 2014 (the “Farm Bill”) and the Ninth Circuit Court of Appeals’ order in HIA v. DEA III (April 2018). […]
CBD is Not A Controlled Substance – The “Source Rule” Applies
An Urgent Request from Bob Hoban – Hoban Law Group As you may know, the Hoban Law Group (HLG) appeared before the Ninth Circuit Court of Appeals (in February, 2018) in San Francisco – Hemp Industry Association, et al. vs. DEA (“HIA Suit”) –concerning the issue of CBD extraction from hemp, and the legality of industrial hemp, […]
Veterans Left Off Medical Marijuana Protections Bill
When Sens. Cory Gardner (R-Colo.) and Elizabeth Warren (D-Mass.) introduced legislation this month to restrain the federal government from interfering with state-legal cannabis consumption and commerce, they galvanized an all-too-rare level of bipartisan, bicameral support. Notably missing from the voices of support for their bill are America’s veterans. While the States Act would provide vital protection from federal criminal […]
American mayors call on federal government to ease marijuana penalties
Donald Trump has said he would likely support a measure returning authority over marijuana to states Mayors representing cities across the United States have called on the federal government to ease its prohibition on marijuana usage. Tens of millions of Americans now live in states that allow adults to purchase and possess marijuana, and medical […]
Industrial Hemp: Legalized Marijuana’s More Lucrative Sibling
Derived from the identical plants, much easier to cultivate, and profoundly more profitable, industrial hemp lacks legalized marijuana’s glamour and intrigue. Derived from the identical plants, much easier to cultivate, and profoundly more profitable, industrial hemp lacks legalized marijuana’s glamour and intrigue. However, industrial hemp’s staggering growth and application has eclipsed that of marijuana and […]
New Federalism Fund and American Trade Association for Cannabis and Hemp Join Forces to Form New Industry Effort
CBE is excited to announce the partnership of the New Federalism Fund and The American Trade Association for Cannabis and Hemp (ATACH). The below press release lays out the mission of the newly formed group and is intended to push the ball over the line to provide the Cannabis Industry with the tools it needs […]
Schumer to introduce bill to decriminalize marijuana
Senate Minority Leader Chuck Schumer (D-N.Y.) said on Thursday that he would introduce legislation to decriminalize marijuana at the federal level, marking a significant shift in policy for the Democratic leader and lending the movement to lower government barriers to the drug a powerful ally. The top congressional Democrat told VICE News in an interview […]
Look, But Don’t Touch: Big Box Stores And ‘Hemp CBD’
Media recently reported on Target’s short-lived effort at selling cannabis-based CBD products online. By the end of the day on which the reporting was made, the major retailer had already removed the product from its website. The Phoenix New Times quoted Target spokesperson Kate Decker as saying, “We started carrying Charlotte’s Web hemp extract items last week on Target.com. After […]
Marijuana Fundraising In California: What’s In Your Private Placement Memorandums?
Many of our California clients that are raising money ask us to draft or review private placement memorandums (“PPMs“) for private securities offerings in their cannabis companies and/or ancillary cannabis companies. As you would expect, investment in California cannabis businesses is at an all-time high thanks to the Medicinal and Adult Use Cannabis Regulation and Safety Act, […]
The Legal Implications Of Advertising Cannabis Across Different Media
Placing and accepting advertisements for cannabis products is complicated. There are different legal concerns at the federal and state levels, and different considerations for advertisements in print, broadcast, internet and other media. Federal Law No matter what laws apply at the state level, federal law cannot be ignored. Over forty years ago, the United States […]
National Conference of State Legislatures Urges De-Scheduling Marijuana
PRESS RELEASE BOSTON, Mass. — The National Conference of State Legislatures (NCSL) approved a resolution Monday urging that the Controlled Substances Act should be amended to remove marijuana from scheduling in order to give federally approved banks the ability to work with marijuana businesses. This would also allow states to determine their own marijuana policies […]
American Legion Wants Trump to Remove Marijuana as a Schedule I Substance
America’s largest veterans service organization has a message for President Donald Trump: Reschedule marijuana to permit research into its medical efficacy for treating vets suffering from traumatic brain injury and post-traumatic stress disorder. The appeal by the American Legion was included in a letter sent to the White House last month. The letter requests a […]
DEA Mis-scheduling of Cannabis to Keep the Status Quo Ante
Bitter sweetly, the Drug Enforcement Administration (DEA) has affirmed the woeful mis-scheduling of cannabis as a Schedule I drug after sitting on a number of multi-year old petitions (and decades of formal administrative legal challenges). Despite the existing Compassionate Investigational New Drug Program at the National Institute on Drug Abuse (NIDA) that has supplied cannabis as […]
Thinking Strategically About the Future of an Uncertain Cannabis Market
As the cannabis market matures, new markets and consumers are preparing to come online. We are seeing a proliferation of opportunities in the cannabis industry like never before. Not only are new cultivators, processors, and dispensaries applying for and obtaining licenses and permits, but these operators are bringing new technologies, business plans, and innovative models for […]
Cannabis Banking Issues: All Cash and Not A Lot of Protection
By Steven Schain Ever accidentally find $5.4 billion of cash in your back pocket? The cannabis industry did in 2015, after virtually no bank would accept legalized marijuana sales deposits. Instead, because the Comprehensive Drug Abuse Prevention and Control Act, 21 U.S.C. Section 801, Et. Seq (1970) (Controlled Substance Act), prohibits “manufacture, distribution, and dispensation” […]
When Is a Democracy Really Just a Dictatorship?
By Mark Goldfogel Civics class in junior high school taught me that a democracy is a government that reflects the will of the people. The majority of the people, not any individual’s ideology, is supposed to drive our country. There are 24 states and the District of Columbia now in violation of the Controlled Substances Act, […]
