There’s a lot of federal cannabis buzz lately, but not as much action. On Wednesday, the Coalition for Cannabis Policy, Education, and Regulation (CPEAR) sponsored a virtual event, hosted by The Hill, that focused on cannabis regulation. Speakers included Colorado Senator John Hickenlooper, South Carolina Rep. Nancy Mace, and National Institute on Drug Abuse director Nora Volkow, among others. The event took place against the backdrop of an aggressive push this week for the inclusion of cannabis banking language in the National Defense Authorization Act, which is unlikely, and, more broadly, the rollout this year of comprehensive cannabis legalization proposals from both Democrats and Republicans. (Read Cannabis Wire’s coverage of how these proposals differ.) Hickenlooper, also the former governor of Colorado, spoke about the cannabis impairment-related provisions for which he pushed in the Bipartisan Infrastructure Investment and Jobs Act.

Alyson Martin, Cannabis Wire, 12/01/2021 19:00:00

Open article: https://cannabiswire.com/2021/12/02/as-congress-considers-cannabis-regulators-and-lawmakers-convene-on-key-issues/

Treasury Secretary Janet Yellen said she supports allowing legal cannabis dispensaries to access the US banking system — where they’re now largely barred — to make it easier for the government to collect tax revenue. Yellen was asked by Colorado Congressman Ed Perlmutter of the House Financial Services Committee on Wednesday if she thought allowing pot firms to use the US banks would facilitate tax collection by the IRS. “Yes, of course, it would,” the Treasury secretary replied. Large banks have been lobbying lawmakers to support the Secure and Fair Enforcement Banking Act, or SAFE, which would enable banks to access the burgeoning multi-billion dollar cannabis industry. While the sale or use of marijuana is legal to some degree in 47 states and DC, federal law still prohibits possessing, buying, selling, and using marijuana, which remains classified as a Schedule 1 drug by the Drug Enforcement Agency. Big banks have been hesitant to do business with legitimate cannabis-based companies for fear of running afoul of federal money-laundering laws. Financial institutions found to have violated money-laundering laws risk having their assets seized and losing their master account with the Federal Reserve.

Social Links For Abraham Ziff, New York Post, 11/30/2021 19:00:00

Open article: https://nypost.com/2021/12/01/irs-could-collect-taxes-from-pot-firms-with-big-bank-use-janet-yellen/

A new association has been formed to ensure Black and other underrepresented communities will have an opportunity to participate in Connecticut’s new legalized recreational marijuana industry, as state legislators had promised. The Alliance for Cannabis Equity, or ACE, created by two local workforce and economic development organizations, will host various programs to help aspiring businesses owners and to train workers for the new cannabis field. The establishment of retail stores across Connecticut isn’t expected until the end of 2022 or 2023. “The legalization of cannabis introduces a brand new growth industry into Connecticut. And millions, if not billions, of dollars of wealth, will be created,” said Carlton Highsmith, board chair of the New Haven-based Connecticut Community Outreach Revitalization Program, in a statement. He noted that provisions in the state law legalizing the adult use of cannabis in Connecticut aim to guarantee those minority communities harmed by the war on drugs will benefit from the new industry, including as “ social equity candidates ” for various licenses. “The role of ACE is to assure that the social equity provisions related to adult-use cannabis are fully realized,” said Joseph Carbone, president, and CEO of the Bridgeport-based The WorkPlace, in a statement.

Cannabis Business Executive – Cannabis and Marijuana industry news, 11/30/2021 09:01:00

Open article: https://www.cannabisbusinessexecutive.com/2021/11/group-forms-to-help-give-equal-access-to-connecticuts-new-cannabis-market/

Texas activists on Wednesday turned in signatures to place a marijuana decriminalization initiative on Austin’s 2022 ballot. Ground Game Texas, a progressive organization that was established earlier this year, submitted more than 30,000 signatures to qualify the local measure to go before voters in the May 7 election next year. While Austin, as well as other Texas cities like Dallas, have already independently enacted law enforcement policy changes aimed at reducing arrests for cannabis-related offenses by issuing citations and summons, the Austin Freedom Act of 2021 would take the reform a step further. The initiative seeks to end arrests and citations for misdemeanor marijuana possession within Texas’s capital city. Also, it says police cannot issue citations for residue or paraphernalia in lieu of a possession charge. The City Clerk will now verify that we submitted at least 20,000 valid signatures. After that, the City Council will have the opportunity to adopt the new law directly or place it on May 7, 2022.

Kyle Jaeger, Marijuana Moment, 12/01/2021 10:50:00

Open article: https://www.marijuanamoment.net/texas-activists-turn-in-signatures-to-put-marijuana-decriminalization-on-austins-2022-ballot/