CCMA Political greenBrief
Friday, February 15, 2019
“Large, well-capitalized operations that have ignored the changing regulations or businesses that clearly have no intention of complying, like those operating on public lands or those abusing their workers, should be the highest priority.”Hezekiah Allen, Former Executive Director For The CA Growers Association, On Gov. Newsom Sending The National Guard To Combat The Illicit Market
“If someone wants to oppose the legalization of marijuana, that’s their business, but the American voters have spoken. The fact is, you can’t put the genie back in the bottle. Prohibition is over.”Colorado Congressman Ed Perlmutter On The SAFE Act
EVENT: Malibu Fire Fundraiser On February 15th (Los Angeles – Cannabis Events)
On Friday February 15th, help the CCMA and Future Cannabis Project bring the cannabis community together for a fundraiser to benefit victims of the Woolsey Fire in Malibu. Daytime activities include conference sessions and yoga classes. The evening kicks off with a four course dinner prepared by a team of chefs followed by a party in a beautiful venue in downtown Los Angeles. Tax deductible proceeds will go directly to the Malibu Foundation, a non-profit working to assist in recovery for victims of the Woolsey Fire.
California Governor Plans To Send National Guard To Bust Illicit Cannabis Farms (CA – Illicit Market)
The GrowthOp (February 14, 2019) The National Guard has been tapped to eliminate illegal, unlicensed cannabis grows, says California Governor Gavin Newsom. In his State of the State address earlier this week, Newsom announced that some National Guard troops would be dispensed to combat unsanctioned pot farming.
First Cannabis Equity Permit Moves Toward Approval, Faces Pushback From Rejected Applicants (CA – Cannabusiness)
SF Examiner (February 13, 2019) A hearing on a retail cannabis dispensary in San Francisco’s Upper Haight neighborhood set for Thursday marks a historic milestone in The City’s cannabis equity program, which is intended to lower barriers for those hardest hit by the war on drugs. The equity program, which aims to help those with previous cannabis arrests get work in the industry, was approved in late 2017 and began accepting applications in May 2018.
County Homing In On Cannabis Proposals (CA – Delivery Services)
Point Reyes Light (February 14, 2019) It’s been two years since California approved the recreational use of cannabis, but Marin is still in a lengthy process of issuing delivery-only licenses for medicinal use to no more than four businesses in unincorporated areas.
Pot Banking Gets Attention But No Action In Hyped Hearing (USA – Cannabis Banking)
Westwood (February 14, 2019) The House Financial Services Committee hearing on Colorado Congressman Ed Perlmutter’s SAFE Banking Act provided more bark than bite, with no official vote on the measure. Perlmutter’s staff says that no vote was expected during this hearing, explaining that “will come later.”
Congress Urged To Allow Legal Marijuana Businesses Access To Bank Services (USA – Cannabis Banking)
Marijuana Business Daily (February 14, 2019) Bank officials and others urged Congress on Wednesday to fully open the doors of the U.S. banking system to the state-legal marijuana industry, a change supporters say would reduce the risk of crime and resolve a litany of challenges for cannabis companies, from paying taxes to getting a loan.
Is FDA Behind The Latest CBD Crackdown? (USA – CBD Market)
The GrowthOp (February 14, 2019) The U.S. Food and Drug Administration (FDA) wants all food products containing this substance to go through the federal approval process before it is sold to the public. It remains uncertain just how far this backlash will go before it is all said and done, and the FDA isn’t helping much to provide clarity.
The Cannabis Industry Has A Number Of ‘Tremendous’ Tailwinds (USA – Cannabis Industry)
CNBC (February 14, 2019) Because marijuana remains illegal federally, banks do not lend money to companies in the industry. With that, the cannabis industry is over-regulated and under-levered. The prospects of legalization, along with legislation which if passed could open up banking services to marijuana companies, puts U.S. operators in a prime spot.
3 Reasons Marijuana Stocks May Go Up In Smoke (USA – Cannabis Investments)
The Motley Fool (February 14, 2019) Valuations across the nascent legal marijuana space have been exploding over the last five years. The core reason is that the steady march toward legalization across the globe is widely expected to result in marijuana becoming one of the most valuable industries in the entire world within a decade’s time. But there are three common-sense reasons to think that the cannabis market might fall well short of these lofty projections.
Teen Pot Use Fell In States That Legalized Medical Marijuana (USA – Cannabis Use)
U.S. News (February 14, 2019) Marijuana legalization has been sweeping across the United States, raising concerns that more teens will start toking as pot smoking gains in legitimacy. A new study suggests that’s not the case. Researchers actually found fewer teen marijuana users in states that have adopted medical marijuana laws.
As The US Prepares To Sentence El Chapo, Mexico Readies To Legalize Cannabis (Mexico – Legalization)
Pot Network (February 14, 2019) The Mexican Congress reconvened on February 1, and on the forefront of the agenda for the leading party, Morena was marijuana legalization. The National Regeneration Movement or, Morena, a party that had never run for office before, won the Mexican general election in July 2018 with a coalition of supporters across all levels of society with one overarching goal: decreasing crime and corruption.
EU Parliament Follows World Health Organization, Recommends Descheduling Cannabis (World – Cannabis Scheduling)
Ganjapreneur (February 14, 2019) Due to the World Health Organization’s recommendation to deschedule cannabis and all associated chemicals, the European Union has passed a resolution to help member countries do just that. The non-binding resolution is designed to create incentives that will encourage the development of medical cannabis programs in the European Union.