CBD and Cannabis News Update

This week’s CBD and cannabis updates from the U.S. and around the globe.

July 23, 2019

ALEXANDRIA, Va.—Each week, NACS brings you a roundup of news and information on cannabis and CBD to help update you on the fast-moving products and their legality. Here are the topics in the news for the week of July 15–19:

U.S. Federal Activity

  • Senate Banking Committee Schedules Hearing on Marijuana Banking Bill. The Senate Committee on Banking, Housing and Urban Affairs will convene a hearing on the Secure and Fair Enforcement (SAFE) Banking Act, a banking bill that would enable financial institutions to service cannabis businesses. The House version of the cannabis banking bill cleared that chamber’s Financial Services Committee with a bipartisan vote in March and now has 206 cosponsors. The companion Senate legislation has 32 out of 100 senators signed on. (Source: Forbes)
  • Senate Agriculture Committee Schedules Hemp Production Hearing. The Senate Committee on Agriculture will hold a hearing on July 25 to discuss hemp production, featuring witnesses from the U.S. Department of Agriculture (USDA), the Food and Drug Administration (FDA) and the Environmental Protection Agency (EPA). (Source: Senate Agriculture)
  • State Attorneys General Send Letter to FDA Supporting Cannabis Regulations. Twenty-four attorneys general sent a letter on July 16 to FDA Commissioner Norman Sharpless in support of FDA’s recent push to regulate cannabis-derived products like cannabidiol (CBD), while asking the agency to ensure that the states maintain their regulatory roles in the market. (Sources: Law360, NAAGWAMU)
State and Local Activity
  • License Issued for First Marijuana Store in Boston. The Massachusetts Cannabis Control Commission issued its first provisional license to a recreational marijuana store in Boston on July 17. Pure Oasis is also the first economic empowerment applicant to get a provisional license, a category reserved for racial minorities, people with drug convictions and people who live or work in areas disproportionately affected by past marijuana law enforcement. (Source: MassLive)
  • Ohio General Assembly Passes Bill to Legalize Hemp and CBD. On July 17, the Ohio General Assembly sent legislation to Governor Mike DeWine that would allow farmers to grow industrial hemp and stores to sell products that contain hemp-derived CBD. (Source: Cleveland.com)
  • Michigan Reveals Plan that Targets 19 Communities for Legal Marijuana Businesses. Michigan’s Marijuana Regulatory Agency revealed a plan on July 18 that would ensure businesses in 19 cities across the state have opportunities to participate in the recreational marijuana market. The plan includes offering assistance with marijuana license applications, reduced fees and easier access to state resources. (Source: Detroit Free Press)
  • Texas Prosecutors Cannot Distinguish Between Legal Hemp and Illegal Marijuana. Texas Governor Greg Abbott signed legislation in June to legalize hemp and hemp-derived products. However, county prosecutors in the state have been dropping some marijuana possession charges and declining to file new ones, saying they do not have the time or the laboratory equipment needed to distinguish between legal hemp and illegal pot. (Source: New York Times)
Miscellaneous
  • CBD Demand Is Making Hemp the Cannabis Cash Crop. Marijuana is still banned for recreational use across much of the world, and even medical access, while expanding, is restricted in most countries. So players in the $340 billion global cannabis market are turning their attention to weed’s less-regulated cousin, hemp. (Source: Bloomberg Businessweek)
  • Cannabis Legislation Creates Employment Confusion. The relatively rapid acceptance of marijuana use in the United States has forced lawmakers and employers to grapple with how to adapt. Some employers have already changed their policies on pre-employment drug screening, and not just to address the dissonance in punishing someone for using a legal substance. (Source: New York Times)
NACS has prepared a fact sheet (for members only) to help you navigate what’s legal and what’s not for CBD retailing. Don’t miss the Federal Cannabis Legislation Tracker covering bills that have been introduced in Congress in 2019 pertaining to marijuana legalization that may affect retailers.
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