On Tuesday a coalition of federal agencies released a joint statement noting that financial institutions including banks and credit unions may work with individuals and businesses involved in the hemp industry.
“This statement provides banks with background information on the legal status of hemp, the U.S. Department of Agriculture’s (USDA) interim final rule on the production of hemp, and the BSA considerations when providing banking services to hemp-related businesses”, states the joint press release, which was published by the Federal Reserve.
According to a Reuters report, Brazilian pharmaceutical regulator Anvisa on Tuesday approved regulations for the roll-out of medicinal cannabis-based products. However, in a separate vote they blocked a proposal to allow domestic medical marijuana plantations.
Throughout the United States authorities have seized at least 510,000 marijuana vape cartridges and arrested more than 120 people in the past two years, according to an Associated Press tally derived from interviews, court records, news accounts and official releases.
According to a Reuters reports, shares of marijuana companies rose on Thursday following a U.S. congressional committee passing legislation to legalize marijuana. The measure now moves towards a vote by the full House of Representatives, where its approval would put it before the Republican-controlled Senate.
First the first time since the start of marijuana prohibition many decades ago, marijuana sales will be legal in both Michigan and Illinois beginning January 1st. This is possible due to voter-approved initiatives which legalized the plant for recreational purposes for everyone 21 and older.
Democratic lawmakers in Wisconsin introduced legislation recently that would decriminalize the possession of small amounts of recreational marijuana for those 21 and older.
Arrests related to marijuana increased by around 35% over a four year period ending in 2017, the last year where data is available. This is according to a report released Friday by the American Civil Liberties Union of New Jersey.
Marijuana sales will be legal in time for Christmas in Michigan.
According to a state notice published on Wednesday, legal marijuana stores will begin opening on December 1, and will sale their products to anyone 21 and older.