Cannabis News
Guess Which Banks Now Want Cannabis Clients?
Published
1 year agoon
By
admin
Banking institutions are engaging in a competitive race to accommodate cannabis businesses in anticipation of forthcoming alterations in the federal classification of cannabis, as national data indicates. Although cannabis remains federally prohibited, a pivotal shift is on the horizon due to the U.S. Health & Human Services Department’s (HHS) recommendation to reclassify cannabis from Schedule I to Schedule III.
The National Organization for the Reform of Marijuana Laws (NORML) reports a notable surge in banking institutions actively seeking partnerships with cannabis businesses. This reflects a diminishing fear of potential repercussions.
According to quarterly data released by The Financial Crimes Enforcement Network (FinCEN), a United States Department of the Treasury division, more than 800 banks and credit unions have officially documented their affiliations with licensed cannabis enterprises with the U.S. government.
FinCEN’s latest report reveals that during the second quarter of FY2023, a historic 812 banks and credit unions have actively engaged with cannabis companies. This figure represents an unprecedented high since FinCEN began tracking such data.
This number represents a notable increase from the previous year when only 553 banks, equivalent to 11 percent of all U.S. banks, and 202 credit unions were identified as collaborating with cannabis businesses.
The report underscores that FinCEN issued guidance to clarify the expectations of the Bank Secrecy Act (BSA) for financial institutions looking to offer services to marijuana-related businesses (MRBs).
This FinCEN guidance has helped elucidate how financial institutions can deliver services to MRBs while remaining in compliance with their BSA obligations. Additionally, it ensures that the information furnished by financial institutions in BSA reports is aligned with federal and state law enforcement priorities. The complete report is available for download.
Categories of Cannabis Businesses as Identified by FinCEN
FinCEN’s 2014 Guidance outlines three classifications for describing a financial institution’s association with Marijuana-Related Businesses (MRBs) in Suspicious Activity Reports (SARs):
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Marijuana Priority: In this classification, the financial institution provides financial services to an MRB, and its customer due diligence leads it to reasonably believe that the relationship is tied to one of the Cole Memo priorities or infringes upon state laws.
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Marijuana Limited: This category signifies that the financial institution offers financial services to an MRB and, based on its customer due diligence, reasonably believes that this engagement does not involve any of the Cole Memo priorities or contravene state laws.
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Marijuana Termination: This category comes into play when the financial institution deems it necessary to sever its relationship with an MRB to uphold the effectiveness of its anti-money laundering compliance program.
NORML Deputy Director Paul Armentano emphasized the critical nature of access to banks and other financial institutions for any industry’s safe, transparent, and effective operation.
He underscored that this necessity is particularly evident for players in the cannabis industry, especially smaller and minority-owned businesses, as well as the consumers they serve. He noted that these entities will continue to face significant impediments without improved access to credit and financing.
According to survey data compiled in the previous year by Whitney Economics, more than 70% of surveyed cannabis businesses identified the “lack of access to banking or investment capital” as their foremost challenge.
FinCEN’s March 2022 Marijuana Banking Update reveals a consistent upward trend in the number of banks and credit unions seeking authorization to serve cannabis businesses. According to the report, as of September 30, 2021, FinCEN received 219,097 Suspicious Activity Reports (SARs) featuring the specific phrases associated with Marijuana-Related Businesses (MRBs).
It’s worth noting that several of these SARs contain multiple key phrases, which explains why the individual figures for each keyword exceed the overall total. The report continues to elaborate on the breakdown of these SARs: FinCEN received 172,501 SARs from financial institutions using the ‘Marijuana Limited’ key phrase, 15,359 SARs from those employing ‘Marijuana Priority,’ and 42,791 SARs from institutions utilizing the ‘Marijuana Termination’ key phrase.
FinCEN initiated the provision of guidance to cannabis businesses back in 2014, aiming to assist banking institutions in navigating the challenges of operating within an environment where cannabis remains federally illegal.
What’s Prompting Banks to Change Their Stance
Yahoo! News recently covered the potential game-changing impact of the HHS recommendation to reclassify cannabis from a Schedule I to a Schedule III substance. This reclassification can reshape the cannabis industry and open up fresh prospects for banking institutions.
According to Richard Laiderman, former head of global treasury for VISA and Co-Founder and Chair of StandardC, rescheduling cannabis to Schedule III could potentially enable dispensaries to embrace credit card payments. If this shift occurs, credit card transactions may replace cash transactions, mitigating the risks and expenses associated with operating on a cash-only basis.
Robert Baron, a specialist in cannabis banking, emphasized the necessity for financial institutions seeking to engage with this industry to adopt risk management tools for assessing and overseeing cannabis businesses. He highlighted that StandardC’s business underwriting and monitoring tools are well-suited for fulfilling their obligations under the Bank Secrecy Act and customer due diligence.
The HHS recommendation to reclassify cannabis from Schedule I to Schedule III represents a historic milestone, marking the first federal-level initiative to enhance the safety of the cannabis industry for all stakeholders.
Conclusion
The evolving landscape of cannabis banking is undergoing significant transformation, driven by the potential reclassification of cannabis from Schedule I to Schedule III at the federal level. This shift holds the promise of providing newfound opportunities for financial institutions and enhancing safety, transparency, and efficiency within the cannabis industry.
As financial institutions adapt to serve this market segment, implementing robust risk management tools becomes essential to ensure compliance with regulatory requirements and foster a secure environment for all involved. The coming years will likely witness further developments and innovations in cannabis banking, marking a pivotal moment in the journey toward legitimizing and mainstreaming this burgeoning industry.
CANNABIS SET TO BE RESCHEDULED? READ ON…
https://www.marijuanamoment.net/researcher-asks-federal-court-to
-halt-dea-marijuana-rescheduling-hearings-over-allegations-of-illegal-proceedings-and-agency-bias/
When the Biden administration announced plans to reschedule cannabis to Schedule III, many cannabis advocates celebrated what they saw as a step toward legitimacy. I wasn’t among them. From the beginning, I’ve argued that Schedule III is nothing more than a sweet spot for Big Pharma – allowing them to maintain control while giving the illusion of progress. Cannabis doesn’t belong on the Controlled Substances Act at all, and frankly, the CSA itself is an outdated relic that needs to be abolished.
But even for those who embraced the Schedule III proposition, reality is about to hit hard. A researcher has just filed a lawsuit against the DEA, alleging multiple violations in the rescheduling process – from ignoring Native American tribes to sidelining small businesses. This is just the beginning of what promises to be a lengthy legal battle from all sides. Prohibitionists will fight to maintain strict control, while reform advocates will push for complete descheduling. Big Pharma, meanwhile, will work behind the scenes to ensure any changes benefit their bottom line.
The DEA’s rescheduling process was never going to be smooth sailing. Cannabis is too complex, too deeply woven into our culture and commerce to be neatly categorized under the CSA’s rigid framework. It’s a plant that’s been used medicinally and spiritually for millennia – trying to force it into the same regulatory box as synthetic pharmaceuticals is like trying to fit a square peg into a round hole.
There’s only one sensible path forward: complete descheduling coupled with a comprehensive national framework for legalization. Anything less will result in years of legal battles, regulatory confusion, and continued barriers to access. Those hoping Schedule III is just around the corner are in for a rude awakening. The lawfare is just beginning, and it’s going to be a long, messy fight.
Let’s look at how this legal battle is shaping up and why Schedule III may be dead on arrival…
David Heldreth’s lawsuit against the DEA marks the opening salvo in what promises to be a protracted legal battle over cannabis rescheduling. As CEO of Panacea Plant Sciences, Heldreth’s grievances strike at the heart of the DEA’s process, alleging multiple violations that could potentially derail the entire rescheduling effort.
The core complaints are substantial: The DEA failed to consult Native American tribes, despite the significant impact rescheduling would have on tribal law enforcement and health services. They’ve effectively shut out small businesses from the process, favoring larger entities already positioned for Schedule III licensing. Perhaps most damning, Heldreth claims the DEA deliberately excluded his company from scheduled hearings despite timely requests to participate, suggesting potential bias in the selection process.
These allegations come after a whirlwind of activity from the DEA. Following Biden’s directive to reconsider cannabis classification, the agency received over 43,000 public comments and scheduled hearings for December 2nd. However, only 25 participants were selected to testify – a suspiciously small number given the industry’s size and scope.
While Heldreth’s legal arguments appear sound – particularly regarding tribal consultation requirements and constitutional questions about DEA judge appointments – the judiciary’s historical deference to administrative agencies might prove challenging. Courts typically give agencies broad latitude in implementing federal law, making this an uphill battle.
But here’s the crucial point: whether Heldreth’s lawsuit succeeds may be less important than its role as a blueprint for future legal challenges. Prohibitionist groups like Smart Approaches to Marijuana (SAM) are already sharpening their legal knives, preparing to challenge every aspect of the rescheduling process. They’ve made it clear they’ll use every available legal tool to keep cannabis in Schedule I.
We’re likely to see challenges from multiple angles: constitutional arguments, administrative procedure violations, environmental impact concerns, and public health disputes. Each lawsuit, regardless of merit, will add months or years of delays to the process. Even if most fail, it only takes one successful challenge to throw the entire rescheduling effort into chaos.
Schedule III isn’t just facing a single legal battle – it’s staring down the barrel of a full-scale legal war. In the labyrinthine American court system, determined opponents with deep pockets can keep issues tied up in litigation almost indefinitely. This is where Schedule III will likely meet its end – not through a single knockout blow, but through death by a thousand legal cuts.
Let’s be frank – Schedule III was never going to be the victory cannabis advocates needed. Its death by litigation, while frustrating, might be exactly what we need to push for real, meaningful reform. Sometimes good things have to fail for better things to emerge.
The next four years present a unique window of opportunity. With Republicans poised to control significant portions of government, we’re entering a period where comprehensive cannabis reform could actually happen – if approached correctly. The key is framing reform in terms Republicans can embrace: states’ rights, economic opportunity, and reduced federal overreach.
There’s buzz about Trump potentially descheduling cannabis completely. While this would be revolutionary, I’ve learned to temper expectations when it comes to campaign promises. Until I see the executive order signed or legislation passed, I’ll maintain healthy skepticism. We’ve been burned by political promises before.
However, what’s genuinely exciting is the potential for Republican-led cannabis reform. With proper framing – emphasizing personal liberty, economic growth, and dismantling bureaucratic overreach – we could see a conservative-friendly cannabis bill that actually addresses the core issues rather than dancing around them like Schedule III would have.
Think about it: Republicans could simultaneously stick it to their Democratic rivals while claiming a major policy win that’s increasingly popular with their base. It’s the kind of political opportunity that doesn’t come along often. Young conservative voters overwhelmingly support legalization, and older conservatives are increasingly seeing the economic and medical benefits.
The public support is there – recent polls show over 70% of Americans favor legalization. If there was ever a time for bold action rather than half-measures like Schedule III, it’s now. We need legislation that respects the complexity of cannabis while ensuring access and promoting innovation.
Perhaps the Schedule III debacle will prove to be a blessing in disguise, forcing lawmakers to confront the reality that the Controlled Substances Act itself is the problem. Sometimes you have to hit rock bottom before real change can happen. In cannabis policy, we might finally be reaching that point.
The death of Schedule III could be the birth of something much better – if we’re ready to seize the opportunity.
The imminent death of Schedule III in the courts isn’t a tragedy – it’s the predictable end to a political charade. Biden’s administration dangled cannabis reform like a carrot before voters, but Schedule III was never going to deliver the comprehensive changes our communities need. It was theater, designed to appear progressive while maintaining the status quo that benefits big pharmaceutical companies.
Yes, the Biden administration made history by initiating the rescheduling process. But let’s be honest about what they actually achieved: pardons that affected virtually no one currently incarcerated, rescheduling proposals that would primarily benefit corporate interests, and plenty of talk about reform while people continue sitting in cells for cannabis offenses.
Looking ahead to Republican control, I’m not holding my breath for meaningful cannabis reform. But politics makes strange bedfellows, and the cannabis issue doesn’t fit neatly into partisan boxes anymore. There’s a slim chance – maybe out of genuine belief in personal freedom, maybe just to spite Democrats – that Republicans could deliver real reform.
The death of Schedule III in endless litigation could force both parties to confront an uncomfortable truth: the Controlled Substances Act itself is the problem. Cannabis doesn’t belong in any schedule – it’s a plant that humans have cultivated and used for millennia. Trying to force it into the CSA’s framework is like trying to regulate tomatoes as pharmaceuticals.
What we need now isn’t another bureaucratic reshuffling, but a complete rethinking of how we approach cannabis policy. Whether that comes from Republicans seeking a win, Democrats finally embracing real reform, or a bipartisan recognition that the current system is broken doesn’t matter. What matters is that we stop accepting half-measures and start demanding real change.
The Schedule III saga may be ending, but the fight for sensible cannabis policy continues. The only question is whether our politicians will finally listen to the 70% of Americans who support legalization, or if they’ll keep playing games with rescheduling while real people suffer under prohibition.
WHO WINS WITH SCHEDULE 3? READ ON…
The conversation surrounding marijuana has transformed significantly over the past decade, particularly as legalization spreads across various regions. As societal attitudes shift, more women are exploring cannabis not just for recreational use but for its potential health and wellness benefits. A recent poll reveals that these benefits are a primary draw for women, while price remains a pivotal concern. This article delves into the reasons why women are increasingly turning to marijuana, the specific health benefits they seek, and the implications of pricing in this evolving market.
The Growing Interest in Cannabis Among Women
Historically, marijuana has been associated with negative stereotypes and stigma. However, as research highlights its medicinal properties, perceptions are changing. Women are at the forefront of this shift, seeking alternatives to traditional medications for managing health issues. The increasing acceptance of cannabis is reflected in various surveys indicating that women are more likely than men to use marijuana for therapeutic purposes.
Demographic Trends
Women aged 25-45 represent one of the fastest-growing segments of cannabis users. This demographic often seeks solutions for stress relief, chronic pain management, and mental health support—issues that significantly impact their quality of life. As more women become informed about the potential benefits of cannabis, their willingness to incorporate it into their wellness routines grows.
Health and Wellness Benefits of Marijuana
1. Pain Relief
One of the most compelling reasons women turn to marijuana is for pain management. Cannabinoids, such as THC and CBD, interact with the body’s endocannabinoid system to help modulate pain perception. Conditions like endometriosis, fibromyalgia, and arthritis disproportionately affect women, making effective pain relief essential.
Studies have shown that medical marijuana can significantly reduce chronic pain symptoms. For instance, a study published in the *Journal of Pain Research* found that patients using medical cannabis reported a 64% reduction in pain. This evidence resonates with women seeking alternatives to opioids, which carry risks of addiction and adverse side effects.
2. Anxiety Reduction
Anxiety is a prevalent issue among women, often exacerbated by societal pressures and responsibilities. Cannabis has been studied for its anxiolytic properties, making it an attractive option for those looking to manage anxiety without relying on prescription medications.
CBD is particularly noteworthy for its potential to alleviate anxiety without producing psychoactive effects. Research published in The Permanente Journal found that 79% of participants experienced reduced anxiety levels after using CBD oil. This finding is significant for women who may be hesitant to use THC-dominant products due to concerns about psychoactivity.
3. Improved Sleep Quality
Many women struggle with sleep disorders due to hormonal fluctuations, stress, or lifestyle factors. Cannabis has been shown to improve sleep quality by promoting relaxation and reducing anxiety.
A study from the University of Colorado Boulder indicated that participants who used cannabis before bedtime reported better sleep quality compared to those who did not use it. This is particularly relevant for women juggling multiple responsibilities that can interfere with restful sleep.
4. Menstrual Health Support
Menstrual discomfort is another area where many women find relief through cannabis use. The muscle-relaxing properties of marijuana can alleviate cramps and other menstrual symptoms.
While more research is needed in this area, many women report finding relief from menstrual symptoms through cannabis use. Some companies have developed products specifically targeting menstrual discomfort, such as CBD-infused creams and edibles designed for this purpose.
The Appeal of Natural Remedies
A Shift Toward Holistic Health Approaches
The growing interest in natural remedies reflects a broader trend toward holistic health among women. Many are seeking alternatives to traditional pharmaceuticals due to concerns about side effects and long-term dependency on medications. Cannabis is often viewed as a natural option that can provide relief without the risks associated with conventional treatments.
Empowerment Through Self-Care
The rise of self-care culture empowers women to take control of their health choices actively. By choosing cannabis as a wellness tool, many feel they are making informed decisions about their bodies and well-being an essential aspect of fostering a positive relationship with health management.
Pricing: A Barrier to Access
Despite the numerous benefits associated with marijuana use among women, price remains a significant barrier to access. As the market evolves with increased competition among producers, understanding pricing dynamics becomes crucial for both consumers and businesses.
The cost of cannabis products can vary widely based on factors such as location, product type (flower vs. edibles vs. concentrates), and quality. High prices can deter many women from trying or continuing to use cannabis for therapeutic purposes.
As of late 2023, average prices for cannabis products have fluctuated due to market changes. In some legal states, prices have dropped significantly averaging around $5 per gram which could enhance accessibility for consumers. However, premium products often command much higher prices.
The Impact of Legalization on Pricing
Legalization has led to increased competition among dispensaries and growers, which can drive prices down over time. However, taxes imposed on legal cannabis sales can also contribute to higher retail prices. Women seeking affordable options may find themselves navigating a complex landscape where product quality must be weighed against cost.
The Future Landscape of Cannabis Use Among Women
Increasing Acceptance and Education
As research continues to highlight the benefits of marijuana for various health issues, acceptance among women is likely to grow further. Education plays a critical role in this process; as more information becomes available about safe usage practices and product options tailored specifically for women’s health needs.
Tailored Products for Women’s Health
The cannabis industry is beginning to recognize the unique needs of female consumers by developing products specifically designed for women’s health issues from menstrual relief products infused with CBD to formulations aimed at reducing anxiety or enhancing sleep quality.
Market Trends Indicating Growth
Market trends indicate an increasing demand for female-focused cannabis products. Companies are starting to create brands that cater specifically to women’s wellness needs offering everything from tinctures designed for hormonal balance to edibles aimed at stress relief.
Conclusion
The growing interest among women in the health and wellness benefits of marijuana underscores a significant shift in societal attitudes toward this once-stigmatized plant, with its potential applications ranging from pain management to anxiety relief and menstrual health support, making cannabis an appealing alternative for those seeking natural remedies; however, pricing remains a critical concern that cannot be overlooked, as addressing affordability will be essential in ensuring that all consumers can access these beneficial products amidst an evolving market characterized by increased competition and changing regulations. Ultimately, education about both the benefits and costs associated with cannabis use will empower women—and all consumers—to make informed decisions regarding their health choices, highlighting that both awareness and accessibility will play vital roles in shaping the future landscape of cannabis consumption among women, a landscape defined by empowerment through informed self-care practices.
FEMALE CONSUMERS BUYING WEED, READ ON…
FEMALES AGED 19 TO 30 ARE BUYING MARIJUANA AT A RECORD PACE!
Cannabis News
True or False, Matt Gaetz, Trump’s Pick for Attorney General, Will Legalize Marijuana in America?
Published
3 days agoon
November 18, 2024By
admin
The winds of change are blowing through the cannabis landscape once again, and this time they’re coming from an unexpected direction. As we stand on the precipice of what could be a transformative period for cannabis policy in America, the appointment of Matt Gaetz as Attorney General under Trump’s incoming administration has raised both eyebrows and hopes across the cannabis community.
For those who remember the dark days of Jeff Sessions’ tenure as AG, when federal prosecutors were given free rein to interfere with state-legal cannabis operations, Gaetz represents a dramatic shift in perspective. Unlike his would-be predecessor, the Florida congressman has consistently supported cannabis reform, even voting in favor of federal legalization through the MORE Act – a rare stance among his Republican colleagues.
But before we break out the celebratory pre-rolls, it’s worth taking a closer look at what Gaetz’s appointment might really mean for the future of cannabis in America. While some industry veterans fear that any Trump administration will inevitably spell trouble for progress, others see reason for optimism. After all, Gaetz isn’t just cannabis-friendly by Republican standards – he’s been actively pushing for reform throughout his political career, from his time in the Florida legislature to his current role in Congress.
As someone who’s watched the evolution of cannabis policy for years, I find myself intrigued by this unexpected turn of events. Could a Trump-appointed, pro-legalization Attorney General be the key to finally ending federal prohibition? Or will the realities of partisan politics and bureaucratic inertia continue to keep cannabis in legal limbo?
In this article, we’ll dig deep into Matt Gaetz’s background, examine his track record on cannabis policy, and analyze what his potential appointment as Attorney General could mean for the future of legalization in America. Whether you’re a cannabis advocate, industry professional, or simply a curious observer, understanding this pivotal moment in cannabis politics has never been more important.
To be completely honest, before writing this article, I couldn’t have told you much about Matt Gaetz beyond recognizing his name from headlines. As someone who focuses primarily on cannabis policy and its broader societal impacts, I tend to avoid diving too deep into individual political careers. However, given his potential appointment as Attorney General and its implications for cannabis reform, I decided to take a comprehensive, unbiased look at who Matt Gaetz really is.
To achieve this, I compiled information from various sources across the political spectrum – from his own congressional biography to critical media coverage – and analyzed them to build a clearer picture of the man who might become America’s top law enforcement official.
What emerges is a fascinating study in contrasts. On the surface, Gaetz presents as a typical child of privilege turned political firebrand. Born into a wealthy and politically connected Florida family (his father Don Gaetz was a state Senate president and made millions in the healthcare industry), Matt grew up in a house famous for being featured in “The Truman Show” and followed his father’s footsteps into politics.
But dig deeper, and you find someone more complex than the typical MAGA politician he’s often portrayed as. While he’s earned nicknames like the “Trumpiest Congressman” and built his brand on fierce loyalty to Donald Trump, Gaetz has shown surprising independence on certain issues – particularly cannabis reform. As a Florida state representative, he helped draft medical marijuana legislation and has been openly supportive of broader reform efforts, with some former colleagues describing him as a “big-time proponent of marijuana.”
His political record is equally mixed. On one hand, he’s been a vocal advocate for criminal justice reform and cannabis legalization, voting in favor of the MORE Act to end federal prohibition – one of only three Republicans to do so. On the other hand, he’s been a controversial figure, making headlines for everything from storming secure impeachment hearings to facing serious allegations (though ultimately no charges) regarding sexual misconduct.
Personally, Gaetz seems to defy easy categorization. While his public persona is that of a conservative firebrand, his private actions tell a different story. He’s supported same-sex adoption rights, convinced his conservative father to do the same, and quietly raised a Cuban immigrant teenager named Nestor for years before publicly acknowledging their relationship. These actions suggest someone more nuanced than his public image might indicate.
So what does this mean for cannabis reform? Based on his record, Gaetz as Attorney General could actually be a positive development for the legalization movement. Unlike his predecessor Jeff Sessions, who was openly hostile to cannabis reform, Gaetz has consistently supported expanding access and ending federal prohibition. His understanding of the industry and its challenges, combined with his firsthand experience drafting cannabis legislation in Florida, suggests he could be an effective advocate for reform within the administration.
However, there are legitimate concerns. Gaetz’s controversial nature and polarizing personality could make it difficult for him to build the broad coalition necessary to achieve meaningful reform. Additionally, his close alignment with Trump might make some Democratic lawmakers hesitant to work with him, even on issues where they agree.
Rating his potential impact as Attorney General on cannabis reform, I’d give it a cautiously optimistic 7/10. While his personal support for legalization is clear and consistent, his effectiveness will largely depend on his ability to work across the aisle and maintain focus on reform efforts amid the many other responsibilities of his position.
One thing seems certain: having someone who openly supports cannabis reform leading the Department of Justice would be unprecedented. Whether Gaetz can translate that support into meaningful policy change remains to be seen, but at the very least, it suggests that federal cannabis enforcement wouldn’t be a priority under his leadership – and that alone would be a significant shift from previous administrations.
As the cannabis community grapples with the implications of Matt Gaetz’s potential appointment as Attorney General, I think it’s crucial that we all take a collective deep breath before jumping to conclusions. In my years covering cannabis policy, I’ve learned that snap judgments often miss the nuanced reality of political developments – and this situation is no different.
Yes, Matt Gaetz is a controversial figure with his share of personal and political baggage. But then again, who among us doesn’t have flaws? What interests me more than his controversies are the core principles he claims to champion – smaller government, increased personal liberty, and a more rational approach to drug policy. These aren’t just talking points; his voting record on cannabis reform actually backs up these stated beliefs.
Unlike previous Republican AGs who viewed cannabis as a moral evil to be stamped out, Gaetz brings practical experience in crafting marijuana legislation. His involvement in Florida’s medical cannabis program gives him firsthand knowledge of both the challenges and opportunities in creating effective cannabis policy. This experience could prove invaluable in navigating the complex landscape of federal legalization.
Moreover, Gaetz seems to understand something that many politicians miss: the current Schedule III proposal is a half-measure that could potentially do more harm than good. His previous statements expressing concern about Big Pharma’s potential takeover of the cannabis industry suggest he grasps the bigger picture. Perhaps having someone in the AG’s office who understands these nuances could help push us toward more comprehensive reform.
Looking ahead, I’m cautiously optimistic. While Gaetz’s appointment might not be the ideal scenario some cannabis advocates hoped for, it certainly isn’t the doomsday scenario others feared. The momentum behind cannabis reform hasn’t slowed – if anything, it’s accelerating. What we need now is to move past Band-Aid solutions like rescheduling and push for true legalization that serves the interests of both consumers and small businesses.
Whether Matt Gaetz turns out to be a champion for cannabis reform or just another political disappointment remains to be seen. But one thing is clear: the fight for legalization will continue regardless of who holds the position of Attorney General. Our focus should remain on pushing for meaningful reform that addresses the real issues facing the cannabis community – not just reshuffling the deck chairs on the prohibition ship.
The next few years will be crucial for cannabis policy in America. Let’s hope that having someone with actual cannabis policy experience in the AG’s office helps more than it hurts. And if not? Well, we’ve overcome tougher obstacles before.
GAETZ ON WEED POLICY, READ ON…
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