safe banking act cannabis

Great news! In a pretty historic moment, the House of Representatives officially voted to pass the SAFE Banking Act (H.R. 1595). We’ve extensively covered the Act’s progress in past posts (the latest can be found here and here), but just as a reminder, the Act would finally allow the cannabis industry to access banking

hemp patent

A first(!): Charlotte’s Web Holdings, Inc. (“CWB Holdings”), operated by the famed Stanley brothers, has secured the first-ever patent for a hemp cultivar in the United States. CWB Holdings is now the proud owner of a plant patent for “a new and distinct hemp cultivar designated as ‘CW2A.’” Patent documents describe CW2A as a hardy

safe banking act cannabis

Things are looking better and better for expanded cannabis banking prospects. As we’ve discussed on the blog previously, the SAFE Banking Act would allow financial institutions to serve state-legal marijuana businesses without fear of federal repercussions. Supporters of the Act have stressed the public-safety concerns that have resulted from the lucrative cannabis industry conducting

weedmaps class action illegal marijuana

Weedmaps, a major online pot shop directory and cannabis marketplace, announced last week that it will finally no longer allow black-market businesses to advertise on its site. Weedmaps’ announcement follows months of complaints from licensed cannabis businesses of harm caused by Weedmaps’ inclusion of ads for unlicensed companies – namely, that allowing such companies’ product

cbd utah multilevel marketing

Utah is a unique state for a variety of reasons, but recently it gained additional notoriety because the “world leader in essential oils” (based on global revenue), Young Living Essential Oils, announced it acquired Colorado-based Nature’s Ultra. Nature’s Ultra owns more than 1,500 acres of hemp farms in Colorado and produces “natural, organic, vegan

SAFE act cannabis banking

Tomorrow, a Republican-controlled Senate Banking Committee hearing will examine cannabis businesses’ lack of access to banking services to further consider the SAFE Banking Act. The July 23, 2019 hearing will include Senators Jeff Merkley (D-OR) and the legislation’s chief GOP cosponsor, Cory Gardner (R-CO). As we’ve discussed on the blog previously, the legislation would

canada cannabis patent

Currently, seven of Canada’s top ten cannabis patent holders are major multi-national pharmaceutical companies, according to a joint research project by Washington D.C.-based New Frontier Data and London-based cannabis bio-technology firm, Grow Biotech. The list includes Ciba-Geigy AG (Switzerland) with 21 patents; Pfizer Products (United States) with 14; and Telefonaktiebolaget LM Ericsson (Sweden) with 13.