A record number of banks and credit unions are now providing services to marijuana businesses, according to new data from the Treasury Department’s Financial Crimes Enforcement Network. This news comes as a Senate committee is set to vote on a cannabis banking bill in the near future.
In Florida, activists are collecting signatures for an initiative that would allow medical cannabis patients to cultivate their own plants at home. Some dispensaries in the state are even helping with this effort. Meanwhile, the state Supreme Court is currently deciding whether to allow a separate marijuana legalization measure on the 2024 ballot.
The Cannabis Regulators Association has sent a letter to Congress, urging lawmakers to make changes to hemp and cannabinoid laws in the forthcoming 2023 Farm Bill. The association wants to ensure that the regulations surrounding these products are effective and fair.
In New Jersey, the Cannabis Regulatory Commission is accepting public comments on proposed rules that would permit clinically focused marijuana businesses to partner with researchers. These partnerships would allow for studies on the products that the businesses grow or sell, advancing the understanding of cannabis and its potential benefits.
In Kentucky, the Opioid Abatement Advisory Commission recently held a hearing on a proposal to allocate at least $42 million for research into ibogaine as a treatment for addiction. This funding would come from litigation settlements with pharmaceutical companies. A vote on the proposal is expected to take place in November.
The Alaska House Labor and Commerce Committee recently held a hearing on a bill that aims to reduce marijuana tax rates. The proposed legislation would replace the current per-ounce tax with a sales tax, potentially making marijuana more affordable for consumers.
A report from Harm Reduction International reveals that governments worldwide have spent nearly $1 billion in aid on the war on drugs over the past decade. This amount surpasses funding for food security, early childhood education, labor rights, and mental health. The report sheds light on the skewed priorities when it comes to allocating resources.
In other news, Senate Minority Leader Mitch McConnell’s office has criticized drug policies in Oregon and California that decriminalize or reduce penalties for drugs. On another front, Senator James Lankford, a Republican from Oklahoma, is leading a letter urging the Drug Enforcement Administration to reject a recommendation to reschedule marijuana.
These developments highlight the ongoing debate surrounding drug policy and the need for reforms at both the state and federal levels. As more states embrace cannabis legalization, issues such as banking access, home cultivation, and research partnerships will continue to shape the evolving landscape of marijuana regulation.
