Cannabis

#3 In Senate Talks About Safe Banking

Published

11 months ago

June 27, 2023

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Once again, Congress is working to pass SAFE Banking, a much needed boost to the cannabis industry. Not only would SAFE Banking provide secure ways to move legal money, it would bring them deeper into the mainstream economy like alcohol and tobacco.

While this is the third attempt, it has garnered key allies like Senator Patty Murray, who is the 3rd in line for the presidency and has chaired the powerful Appropriations committee. She known for speaking softly and carrying big influence.

The Fresh Toast Founder/ Publisher JJ McKay and Senator Patty Murray

“It makes absolutely no sense that legal cannabis businesses in states like Washington are forced to operate entirely in cash—and it’s dangerous to their employees, their businesses, and our neighborhoods,” said Senator Murray. “I’ve introduced bipartisan legislation that would bring legal cannabis businesses into the formal banking system, where they belong—making our communities safer and providing much-needed relief to these small businesses and their customers. Let’s make this the Congress where we finally pass this legislation into law—and let’s get it done as soon as possible.”

In speaking with her team and this media outlet, she reasserted her position of support and reasoning. She states the bill is bipartisan, which is critical to its passing. Senator Murray is joined by Senator Chuck Schumer, the Democratic Majority Leader in the U.S. Senate who has voiced his own support of the bill.

Along with Senator Murray, U.S. Senators Jeff Merkley (D-OR), Steve Daines (R-MT), and U.S. Representatives Dave Joyce (R-OH-14) and Earl Blumenauer (D-OR-03) introduced the bipartisan, bicameral Secure and Fair Enforcement (SAFE) Banking Act of 2023. The bill would ensure that legal cannabis businesses would have access to critical banking and financial services.

The SAFE Banking Act of 2023 would prevent federal banking regulators from:

Prohibiting, penalizing or discouraging a bank from providing financial services to a legitimate state-sanctioned and regulated cannabis business, or an associated business (such as a lawyer or landlord providing services to a legal cannabis business);
Terminating or limiting a bank’s federal deposit insurance primarily because the bank is providing services to a state-sanctioned cannabis business or associated business;
Recommending or incentivizing a bank to halt or downgrade providing any kind of banking services to these businesses; or
Taking any action on a loan to an owner or operator of a cannabis-related business.

The cannabis industry has been bedeviled by a surplus of flower, over taxation along with the same trouble of the mainstream industry such as finding staff. The SAFE Banking act would be a blessing for both the industry and the states who are driving strong revenue from legal sales.

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black market

What To Call The Illegal Marijuana Market

Published

29 mins ago

May 8, 2024

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A grey market or parallel market is the trade of a commodity through distribution channels not authorized by the original manufacturer or trade mark proprietor. Grey market products (grey goods) are products traded outside the authorized channel. The phrases and process helps make it appear more legal than the black market.

In talking with industry notables, there is definitely a push from a minority to slow roll legalization and reframe the black market as a “perfectly ok” option to the average consumer. Both New York and California have huge black or illegal markets. New York’s botched rollout of licenses has made a legal market of about 85 dispensaries and over 2,000 unlicensed ones selling both legal and illicit products to the public. California crushing taxes and non existent enforcement has allowed unauthorized grows to florish. The rumor is these grows have quiet sold to legal producers to make products to help battle the costs.

Most traditional media, data analysts and legitimated investors and executives refer to it as the black market. Having a thriving black market hurts both the legalization process and legal businesses. Colorado and Maine are two examples of states who have done a great job to shrink the illicit market. While immediate short term there could be profits, in the long term, it chokes the growth and mainstreaming of cannabis for both recreational and medical use.

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Cannabis

Pakistan Makes Positive Move On Cannabis

Published

1 hour ago

May 8, 2024

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Recently, Pakistan approved the passage of an ordinance that created the Cannabis Control and Regulatory Authority (CCRA). This government body is tasked to regulate the cultivation, extraction, refining, manufacturing, and sale of cannabis derivatives for medical and industrial purposes.

UN laws says if country wants to produce, process and conduct sales of cannabis-related products, it must have a federal entity to deal with supply chain and ensure international compliance. The regulatory framework of the CCRA is the organization.

The CCRA specifies the maximum level of THC in the cannabis derivative to be 0.3 percent to avoid the abuse of medicinal products and use them recreationally. With this move, the government plans to crack down on illicit grows in order to bring them into a licensed tax paying business.

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Cannabis

Does Lizzo Consume Weed – The Fresh Toast

Published

21 hours ago

May 7, 2024

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She has won Grammys and awards from BET, BillBoard and more while redefining enticing. But does she consume weed?

She burst into the mainstream in 2019 with her third studio album, Cuz I Love You and has been making waves ever since. Resetting standards of how a female music star needs to look and behave, she has been the center of ongoing dissuasions. Through all this, you wonder does Lizzo consume weed to chill and relax. She has attracted legends of fans called Lizzbians, a number of social media trolls and Grammys, BET awards, Billboards Awards and appearance on SLN, Ugly Dolls, Hustlers, and more . She rode another wave of popularity when she featured an original single titled Pink in the Barbie movie.

She started her career in hip hop music. After doing a couple of studio albums, she signed with with Nice Life Recording Company and Atlantic Records releasing Coconut Play.The album spawned the singles Juice and Tempo. The deluxe version of Cuz I Love You topped the US Billboard Hot 100 and became the longest-leading solo song by a female rapper. In 2021, Lizzo released the single Rumors (featuring Cardi B), which debuted in the top five of the Billboard Hot 100. Her fourth studio album, Special (2022), was preceded by its lead single “About Damn Time“, which reached number one on the Billboard Hot 100 and made Lizzo the first black female singer since Whitney Houston in 1994 to win the Grammy Award for Record of the Year.

Sir Chidi and Lizzo

Like everything in her life it seems, she is unabashed about her use of marijuana. Her Instagram shares she is on a fan consuming and treats it just like drinking wine. She has even been cheeky about her use including wink wink tweets about marijuana suppositories.

Lizzo grew up attending the Church of God in Christ but has since embraced a more open concept where she sings hip hop mixed with soul and blues. Lizzo being so open about herself and weed use is similar to the late Mama Cass, who refined talent, fun and what is like to be a celebrity.

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