SAFE BANKING ACT
SAFE Banking Act may still get attached to a funding package before the end of the year
There’s still a sliver of hope that the SAFE Banking Act, which failed to get attached to the defense budget last week, may yet get attached to an omnibus funding package before the end of the year, reports Bloomberg.
However, Vince Ning, founder of Nabis, a cannabis wholesale platform in California, told the platform that if SAFE doesn’t pass, there could be a silver lining, as without a flood of new money, cannabis companies will be forced to fix operational inefficiencies rather than just patch holes, and other states can avoid the bubble effect.
Ning said: “The problem of oversupply of flower today in California largely exists because there was a lot of capital support to build infrastructure, to be as widespread as possible. The capacity to produce in California was gargantuan, they had to put it to use. It ended up flooding the market.”
USDA delaying hemp testing requirements rules due to ‘inadequate’ capacity of testing facilities
Marijuana Moment reports that the U.S. Department of Agriculture (USDA) is delaying enforcement of a rule requiring hemp to be tested at laboratories certified by the Drug Enforcement Administration (DEA) due to “inadequate” capacity of such facilities.
It has stated that the testing requirement will no longer go into effect on January 1, and, at earliest, will now go into force on December 31, 2023.
Industry stakeholders have criticised the proposed requirement, arguing that the limited capacity has already created a bottlenecking and that laboratories can conduct the testing just as effectively even if they aren’t certified by the federal drug agency.
CANADA REGULATORY UPDATE
Cannabis drink purchase limit in Canada increased from 5 to 48 standard-sized cans
MJ Biz Daily reports that Canadian regulatory updates to increase the amount of cannabis-infused beverages that can be purchased at any one time have come into effect.
The amendments will see the public possession limit for cannabis beverages increase from five standard sized cans to 17.1 liters (578.2 fluid ounces), equivalent to 48 standard-sized cans.
.George Smitherman, CEO of industry group Cannabis Council of Canada (C3), told the publication: “This is a very significant victory and right along the lines of what we’ve been pressing for. We’ve been engaged on this issue since I first arrived here in 2020.”
EUROCLEAR ANNOUNCEMENT
Euroclear will ‘no longer support international cannabis-related stocks’ from January 2023
BussinessCann reports that one of the world’s largest financial clearing houses which serves 90% of the world’s 50 largest banks, has informed investors that it will ‘no longer support international cannabis-related stocks’ from January 2023.
Euroclear’s decision has left UK investors scrambling to find alternative ways to invest in North American cannabis stocks, with many having to sell holdings at a considerable loss – leading to a number of investors having already submitted complaints regarding the action.
Hargreaves Landown emailed investors to say: “Euroclear, a custodian that we and a number of UK stockbrokers use, have announced they will no longer support international cannabis-related stocks… They are making this change following a review of all international cannabis-related stocks in which they decided they no longer meet the admission criteria to trade.”
USDA delaying hemp testing requirements rules due to ‘inadequate’ capacity of testing facilities
Marijuana Moment reports that the U.S. Department of Agriculture (USDA) is delaying enforcement of a rule requiring hemp to be tested at laboratories certified by the Drug Enforcement Administration (DEA) due to “inadequate” capacity of such facilities.
It has stated that the testing requirement will no longer go into effect on January 1, and, at earliest, will now go into force on December 31, 2023.
Industry stakeholders have criticised the proposed requirement, arguing that the limited capacity has already created a bottlenecking and that laboratories can conduct the testing just as effectively even if they aren’t certified by the federal drug agency.
CANADA REGULATORY UPDATE
Cannabis drink purchase limit in Canada increased from 5 to 48 standard-sized cans
MJ Biz Daily reports that Canadian regulatory updates to increase the amount of cannabis-infused beverages that can be purchased at any one time have come into effect.
The amendments will see the public possession limit for cannabis beverages increase from five standard sized cans to 17.1 liters (578.2 fluid ounces), equivalent to 48 standard-sized cans.
.George Smitherman, CEO of industry group Cannabis Council of Canada (C3), told the publication: “This is a very significant victory and right along the lines of what we’ve been pressing for. We’ve been engaged on this issue since I first arrived here in 2020.”
EUROCLEAR ANNOUNCEMENT
Euroclear will ‘no longer support international cannabis-related stocks’ from January 2023
BussinessCann reports that one of the world’s largest financial clearing houses which serves 90% of the world’s 50 largest banks, has informed investors that it will ‘no longer support international cannabis-related stocks’ from January 2023.
Euroclear’s decision has left UK investors scrambling to find alternative ways to invest in North American cannabis stocks, with many having to sell holdings at a considerable loss – leading to a number of investors having already submitted complaints regarding the action.
Hargreaves Landown emailed investors to say: “Euroclear, a custodian that we and a number of UK stockbrokers use, have announced they will no longer support international cannabis-related stocks… They are making this change following a review of all international cannabis-related stocks in which they decided they no longer meet the admission criteria to trade.”
USDA delaying hemp testing requirements rules due to ‘inadequate’ capacity of testing facilities
Marijuana Moment reports that the U.S. Department of Agriculture (USDA) is delaying enforcement of a rule requiring hemp to be tested at laboratories certified by the Drug Enforcement Administration (DEA) due to “inadequate” capacity of such facilities.
It has stated that the testing requirement will no longer go into effect on January 1, and, at earliest, will now go into force on December 31, 2023.
Industry stakeholders have criticised the proposed requirement, arguing that the limited capacity has already created a bottlenecking and that laboratories can conduct the testing just as effectively even if they aren’t certified by the federal drug agency.
CANADA REGULATORY UPDATE
Cannabis drink purchase limit in Canada increased from 5 to 48 standard-sized cans
MJ Biz Daily reports that Canadian regulatory updates to increase the amount of cannabis-infused beverages that can be purchased at any one time have come into effect.
The amendments will see the public possession limit for cannabis beverages increase from five standard sized cans to 17.1 liters (578.2 fluid ounces), equivalent to 48 standard-sized cans.
.George Smitherman, CEO of industry group Cannabis Council of Canada (C3), told the publication: “This is a very significant victory and right along the lines of what we’ve been pressing for. We’ve been engaged on this issue since I first arrived here in 2020.”
EUROCLEAR ANNOUNCEMENT
Euroclear will ‘no longer support international cannabis-related stocks’ from January 2023
BussinessCann reports that one of the world’s largest financial clearing houses which serves 90% of the world’s 50 largest banks, has informed investors that it will ‘no longer support international cannabis-related stocks’ from January 2023.
Euroclear’s decision has left UK investors scrambling to find alternative ways to invest in North American cannabis stocks, with many having to sell holdings at a considerable loss – leading to a number of investors having already submitted complaints regarding the action.
Hargreaves Landown emailed investors to say: “Euroclear, a custodian that we and a number of UK stockbrokers use, have announced they will no longer support international cannabis-related stocks… They are making this change following a review of all international cannabis-related stocks in which they decided they no longer meet the admission criteria to trade.”
USDA delaying hemp testing requirements rules due to ‘inadequate’ capacity of testing facilities
Marijuana Moment reports that the U.S. Department of Agriculture (USDA) is delaying enforcement of a rule requiring hemp to be tested at laboratories certified by the Drug Enforcement Administration (DEA) due to “inadequate” capacity of such facilities.
It has stated that the testing requirement will no longer go into effect on January 1, and, at earliest, will now go into force on December 31, 2023.
Industry stakeholders have criticised the proposed requirement, arguing that the limited capacity has already created a bottlenecking and that laboratories can conduct the testing just as effectively even if they aren’t certified by the federal drug agency.
CANADA REGULATORY UPDATE
Cannabis drink purchase limit in Canada increased from 5 to 48 standard-sized cans
MJ Biz Daily reports that Canadian regulatory updates to increase the amount of cannabis-infused beverages that can be purchased at any one time have come into effect.
The amendments will see the public possession limit for cannabis beverages increase from five standard sized cans to 17.1 liters (578.2 fluid ounces), equivalent to 48 standard-sized cans.
.George Smitherman, CEO of industry group Cannabis Council of Canada (C3), told the publication: “This is a very significant victory and right along the lines of what we’ve been pressing for. We’ve been engaged on this issue since I first arrived here in 2020.”
EUROCLEAR ANNOUNCEMENT
Euroclear will ‘no longer support international cannabis-related stocks’ from January 2023
BussinessCann reports that one of the world’s largest financial clearing houses which serves 90% of the world’s 50 largest banks, has informed investors that it will ‘no longer support international cannabis-related stocks’ from January 2023.
Euroclear’s decision has left UK investors scrambling to find alternative ways to invest in North American cannabis stocks, with many having to sell holdings at a considerable loss – leading to a number of investors having already submitted complaints regarding the action.
Hargreaves Landown emailed investors to say: “Euroclear, a custodian that we and a number of UK stockbrokers use, have announced they will no longer support international cannabis-related stocks… They are making this change following a review of all international cannabis-related stocks in which they decided they no longer meet the admission criteria to trade.”
