The U.S. House of Representatives on Friday passed the law Secure and Fair Enforcement (SAFE) Banking Act, which would allow banking and financial firms to work with state-legal cannabis companies, for the sixth time.

The legislation had been incorporated as an amendment to the Innovation Bill America COMPETES. The text had already been approved as a standalone bill as recently as last April, and as part of the 2022 Defense Spending Bill, but it was omitted from the final version of the law.

Democratic Rep. Ed Perlmutter, the bill’s lead sponsor, said in a statement that “cannabis businesses – large and small – and their employees desperately need access to banking and capital to operate effectively. safe and competitive in the growing global cannabis market. »

The amendment was also sponsored by Democratic Representatives Nydia M. Velázquez, Barbara Lee, and Earl Blumenauer, as well as Republican Representatives Warren Davidson and David Joyce. The amendment was approved by 262 votes to 168.

The approval of the amendment was also welcomed by the President of the Credit Union National Association, Jim Nussle, who said the text “addresses an important issue of public safety by allowing legal businesses access to financial services”.

The proposal has yet to survive the conference process between the House and Senate. Some upper house lawmakers, including Senate Majority Leader Chuck Schumer and Democratic Sen. Cory Booker, have said they may not support the amendment. They would rather enact broader reforms related to federal cannabis laws.

The bill has 180 co-sponsors, including 26 Republicans, but Perlmutter and Joyce said they would continue to push for the bill’s passage, including as an amendment to other laws slated for passage. .

The International Cannabis Business Conference (ICBC) returns to Barcelona on March 10, a few days before and in partnership with Spannabis 2022.

The ICBC specializes in B2B networking in addition to offering new perspectives on the economic potential of the cannabis sector in Europe.

“Spannabis is the meeting point for the entire European cannabis scene. This is primarily a consumer-facing event, but many people who attend are also looking for a B2B element. ICBC’s partnership with Spannabis fills this gap and responds to a clear need for major players in the cannabis industry to meet, build their network, and advance the industry as cannabis laws change. liberalized in Spain and throughout the continent. said ICBC Producer Alex Rogers.

The day will consist of several conferences on various themes:

This will be followed by a networking session then an after-party at the Ritz-Carlton in Barcelona.

Why go to ICBC Barcelona?

ICBC is an event aimed primarily at cannabis professionals in Europe. People from all walks of life will be in attendance, including policymakers, entrepreneurs and cannabis activists. It’s the perfect place to learn about the emerging cannabis industry and build lasting partnerships with other cannabis professionals.

If you’re in the cannabis industry or thinking about getting involved, ICBC Barcelona is one of the events you can’t miss.

It will be held on March 10, 2022 at the Auditori de Cornellà.

In addition to the Barcelona conference, the ICBC will meet in Berlin (July 18,19 and 20) and Zurich (September 8 and 9).

In late January, “Good Times” rapper Styles P issued a challenge and offered “Smoking Olympiads” to Snoop, Wiz Khalifa, Curren$y, Method Man, Redman, B-Real, Smoke DZA and Berner for testing their iron lungs.

Clearly not one to pass up an opportunity to get smoked up, Wiz Khalifa responded to Styles P’s offer.

“Hey Ghost, I hear you talking about a smoke-off. I love that idea,” he said. “It’s all love, too, because I respect my OGs, everyone who raised me. I smoke and I listen to the music of each of you. My motto is: if you can’t smoke weed, I don’t want to listen to it, then you’re on this list. I love you. »

“But the n-ggas you named – Snoop is our dad all of us, Curren$y is our young n-gga, I’m Curren$y’s young n-gga, so you know what young n-ggas make. We’re gonna bring some cam that’ll bend you like a chair. »

The leader of the Taylor Gang then showed his motivation with a demonstration of his rotating gravity bong while offering to bring the “Smoker Olympics” to the video-sharing platform Triller.

“I haven’t seen you hit the G bong yet,” he continued. “Get yourself a G bong – one of those – and let’s talk weed, man. Let’s do this smoke-off for real, like in Triller or whatever. It would be hard. »

Styles P has also executed since we saw him yesterday in training.

Wiz Khalifa is not the only rapper who wants to participate in the “Olympiad of smokers”. Snoop Dogg, Curren$y, B-Real, Jim Jones, Smoke DZA and Berner have also confirmed their participation.

However, Styles P is convinced that he will be the last man to smoke.

“I guarantee to go home with the gold,” he said in a recent Instagram video. “I said what I said, I stand by it. [Jadakiss] can be. No retreat, no surrender, no mercy for anyone. It’s a one-man contest. Only one guy comes home with all the gold, man. »

He added: “We are going to call Swizz [Beatz], Timbaland. We’re going to have a studio… The Hip-Hop Smokers’ Olympics must take place. »

Seriously, between Styles P, B-Real, Berner, Wiz, Snoop… who will last?

The Botswana High Court has upheld Fresh Standard’s exclusive rights to produce industrial hemp and medical cannabis in the country.

The Gaborone-based company initially received its license in October 2018, through a cultivation exemption issued directly by the Ministry of Agriculture. However, a few months later, on May 7, 2019, the Botswana Police Narcotics Unit raided the cannabis farm and uprooted the plants.

Barend de Beer, the owner of the farm, later learned that his license had been withdrawn by the Permanent Secretary of the Ministry of Agriculture. He then went to the Botswana courts arguing that he had a valid license for his business, which was the supply of hemp oil and medical by-products.

In finally granting Fresh Standard permission to continue in business, the Botswana High Court judge noted that the permanent secretary had acted outside his jurisdiction.

“The minister has never delegated his powers to the permanent secretary, or to any other person for that matter, because these are not delegable,” the judgment reads.

During the trial, the then Minister of Agricultural Development and Food Security, Patrick Ralotsia, said he had not revoked the license. In fact, he rejected the permanent secretary’s intention to ask Fresh Standard to suspend operations pending the establishment of a multi-varied committee to conduct consultations.

“I conclude as a fact that the Minister never withdrew the exemption. The Letter of Exemption is declared to constitute a valid and legal exemption under Section 20 of the PPA. The defendant is liable to pay the costs of this request, including the costs of the lead attorney,” Judge Gabanagae said.

Zambia, Uganda, Zimbabwe, Malawi, the Democratic Republic of Congo, Lesotho, South Africa, Kenya and Ghana are among the African countries that allow the cultivation of cannabis as a commercial crop. legal.

Cannabis products from the Sublime brand, named after the famous 90s reggae/rock/ska/punk band, are set to launch in California this summer. The Healing Plant, licensed cannabis producer, will produce and distribute the brand of cannabis in the state, Forbes has learned.

“Sublime has its own weed now,” said Bud Gaugh, the band’s drummer. “I mean, what else is there to say but turn them on!” And smoke two” to refer to their title Smoke Two Joints.

SUBLIME ANNOUNCES PARTNERSHIP WITH CALIFORNIA BASED CANNABIS COMPANY THE HEALING PLANT 🌱🌞 Forbes https://t.co/P20vGBQ8zG pic.twitter.com/jCjCo7QspD

— Sublime Official (@sublime) February 3, 2022

The band disbanded after Bradley Nowell died of a heroin overdose but reformed with singer Rome Ramirez in 2009. Shortly after, Nowell’s family threatened to take legal action. and a California judge later ruled the band could not use the name Sublime with their new lineup.

“Out of respect for Brad, we have always refused to endorse any band performing under the name ‘Sublime’, and now, with great reluctance, we feel compelled to take the appropriate legal steps to protect Brad’s legacy. the family told Rolling Stone in 2009.

The Sublime-branded cannabis line would have the family’s blessing, however.

“It was obvious that Sublime would have its own line of cannabis, but we waited to find the perfect partner with The Healing Plant,” said Troy denDekker, Nowell’s widow, according to Forbes. “Our product line will consist of not only what is desired, but also what is needed to help heal! “.

According to Scott Seine, the president of Sublime’s management company, The Healing Plant was chosen as a partner because it favors “the healing and medicinal qualities of cannabis”, which was of paramount importance to the group. »

A full line of medicinal products, in addition to a recreational line, is reportedly in the works.

On Thursday, the U.S. House of Representatives formally added a cannabis banking reform amendment to a larger innovation bill. For several years, American cannabis companies have sought protection from financial institutions that still do not accept cannabis money in the states, given its illegality at the federal level.

Democratic Congressman Ed Perlmutter’s amendment was approved on a preliminary basis with other amendments on Wednesday, but a roll call has been requested. The chamber took up that package on Thursday and passed it by a vote of 262 to 168.

There was no in-session debate on the cannabis provision itself, which shows how relatively uncontroversial the bipartisan-backed reform is in the House. The Senate has always refused to move forward on the issue.

The next deadline is now to see if the entire America COMPETES Act, which contains the banking amendment Secure and Fair Enforcement (SAFE), will be formally passed by the House today.

The politicians behind the law have been pushing for a long time to pass this SAFE banking law, which is a fortiori a modest step towards the reform of federal cannabis laws.

Earl Perlmutter had previously tried to push through this policy change as part of a full-scale defense bill, but the text was deleted following bicameral negotiations.

NEW: #SAFEBanking has been formally added to #AmericaCOMPETES. I appreciate the bipartisan support from my colleagues and look forward to the final vote on the package tomorrow.

— Rep. Ed Perlmutter (@RepPerlmutter) February 3, 2022

The congressman laid much of the blame on Senate Majority Leader Chuck Schumer, who insists on pushing forward comprehensive legalization legislation, like the bill he is finalizing, before moving forward the banking bill.

While it will have taken more than one for the parliamentarians of Mississippi to agree on a text, less than a week will have been enough for the governor to sign the law this Wednesday, February 2. This takes effect immediately, but it could take several months for the first cannabis dispensary to open its doors.

“There is no doubt that citizens of our state would be much better off if they had access to medically prescribed doses of cannabis,” Republican Gov. Tate Reeves wrote in a statement posted on Twitter.

My statement on the medical marijuana bill: pic.twitter.com/VTpXbfMv6C

—Tate Reeves (@tatereeves) February 2, 2022

In the same message, the governor takes the opportunity to tackle legalization efforts for adults: “There are also those who really want a recreational marijuana program that could lead to more people smoking and fewer people working, with all the societal and family ills that this entails. My objective since the first day of my inauguration has been to authorize [le cannabis médical] and to do everything in my power to minimize and diminish – knowing well that it is impossible to eliminate it – the latter’s possibilities. »

Mississippi thus becomes the 37th American state to legalize medical cannabis, in addition to 4 territories.

“For all the people who are impacted in some way by a loved one or someone they know who benefits from medical cannabis, it gives them a quality of life back,” said Ken Newburger, director executive of the Mississippi Medical Marijuana Associationa group that lobbied for legalization.

Jax James, NORML’s national policy manager, explains the limitations of the current law, however.

“We remain concerned that lawmakers have seen fit to add unnecessary taxes on cannabis products, that patients are prohibited from growing limited amounts of cannabis at home for personal use, and that people with chronic pain can only access cannabis products after using more dangerous and addictive substances like opioids,” she said.

A complicated journey

In November 2020, voters in Mississippi decided between two separate ballot measures that sought to legalize access to medical cannabis. 73% of voters voted in favor of the citizens’ initiative. However, Republican lawmakers later challenged the legitimacy of the state’s voter initiative process. Members of the Supreme Court ultimately upheld that challenge — a decision that overturned the 2020 vote and barred citizens from placing future measures on the ballot.

Under the new law, state regulators have 60 days after enactment to begin issuing registry ID cards to eligible patients. Officials must begin providing licenses for dispensary operations within 150 days.

The law allows qualified patients to purchase up to 3.5 grams of cannabis flower or up to 1 gram of cannabis concentrate per day from licensed dispensaries. Patients will not be able to purchase more than three ounces (84 grams) of cannabis flower per month. Flower will be limited to 30% THC, while concentrate products will be limited to 60% THC. The measure does not limit the number of licensed dispensaries that can be operational at any given time. Cannabis purchases will be subject to 7% state sales tax and an additional 5% excise tax.

In Massachusetts, alcohol sales are not dropping. But cannabis sales are skyrocketing, so much so that for the first time since legalization in 2016, revenue from taxes on cannabis has exceeded that on alcohol.

Since the opening of cannabis stores in Massachusetts in November 2018, total sales have reached $2.54 billion, according to data from the Cannabis Control Commission.

While tax data shows that alcohol consumption is barely plummeting, the rise in cannabis use reflects changing attitudes about recreational alcohol and cannabis use.

“I think people are looking for an alternative to feel better,” Mikayla Bell, community outreach manager for NETA, one of the state’s largest cannabis retailers, told WCVB. “Often people turn to alcohol for relief. And now they’ve found another product without the hangover, without the calories.”

For the first time, excise duties on cannabis exceeded those on alcohol. Halfway through the fiscal year, the state collected $74.2 million in December 2021 compared to $51.3 million for alcohol.

Cannabis taxes in Massachusetts

The 10.75% excise tax on recreational cannabis represents only about half of the total tax revenue collected for cannabis in Massachusetts. A state sales tax of 6.25% plus a local tax of up to 3% also exists. Total tax revenue was $208 million in the last fiscal year.

According to Vivien Azer, an analyst at Cowen, an analytics agency that covers the cannabis industry, the pandemic has increased cannabis sales as people are locked down and have more disposable income, but she added that consumption trends have now started to normalize.

“Not only is the industry growing by migrating current consumers from the illicit market to the legal market. But you’re also engaging consumers who have probably tried the product once in their lifetime and then walked away from it, but now have permission to come back to it now that it’s legal,” she said.

As part of a national consultation initiative, the Albanian Prime Minister, Edi Rama, published a question at the end of January to gather the opinion of Albanians on the legalization of medical cannabis.

Widely debated question in the country, Edi Rama affirms that to make a decision, the opinion of the citizens is necessary.

“Some believe that Albania should allow the cultivation, processing and export of cannabis for medical purposes, under state control, without legalizing it for personal use. Others say cannabis shouldn’t be allowed for medical purposes either. What do you think ? » can we read.

The questionnaire also states that “medical cannabis, which is different from cannabis for personal use, has curative effects largely proven by science. However, as the experience of different countries in the region or in the world shows, the controlled use of cannabis by the state has a very positive impact not only on health, but also on economic growth and the fight against illegal use of this plant. »

Large cannabis producer

Since the fall of the former communist regime, Albania is widely known to be one of the biggest cannabis producing countries in Europe. The recent intensification of police raids, motivated in particular by the desire to join the European Union, has produced mixed results. Cannabis trafficking is severely punished there, and exceptions to the penalty exist for personal use or for small quantities, without them being clearly defined.

Medical cannabis is still not allowed there, hence the present question, and hemp has been on the narcotics list there since 2000, for fear of fostering the illicit cannabis trade. The Albanian government, in 2016, discussed the legalization of the cultivation of industrial hemp, but this was never realized or authorized.

Its neighbors in the Balkans, however, have less reluctance to move forward on medical cannabis.