Jurisdiction: Federal

Proposed House Bill Would Legalize CBD in Dietary Supplements and Reduce Uncertainty Surrounding CBD

Last Friday, a bipartisan bill was introduced in the House of Representatives that would legalize cannabidiol (CBD) and other hemp-derived products for use in dietary supplements. The bill—H.R. 8179—was co-sponsored by Rep. Kurt Schrader (D-OR) and Rep. Morgan Griffith (R-VA) and is referred to as the “Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020.”

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It’s a Litigious World, After All: Great-Grandmother Arrested for CBD Oil Possession Last Year Sues Disney

As we blogged about in May 2019, a then-69-year-old great-grandmother was arrested at Disney World when an Orange County deputy found CBD oil in her purse. The incident received national attention and highlighted the confusion over federal and state laws surrounding cannabis and cannabis products.

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Latest Senate Coronavirus Relief Bill Omits Cannabis Banking Protection

Once again, the Senate appears to be punting on much-needed banking and insurance reform for the cannabis industry.  The SAFE Banking Act would allow banks and insurance companies to offer their services to marijuana-related businesses without violating federal law. As we discussed here, it’s had solid support in the House—a standalone bill passed the House with bipartisan support last year and the text of the bill was included in the House’s proposed stimulus package in May 2020.

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Significant Financing Deal A Good Sign for Cannabis Companies Large and Small

According to a recent Bloomberg article, New York-based LeafLink recently closed a significant credit facility of $250 million. Leaflink is a wholesale marketplace that connects retailers with a variety of brands and distributors in the legal cannabis marketplace. LeafLink also assists in providing liquidity to the broader market by factoring accounts receivable.

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Where’s the Money At? Industry Cash Crunch Exacerbated by the Pandemic

If you’ve been following the cannabis industry in 2020, you’ve likely heard the term “cash is king” more than once. This has become the industry consensus as stocks (mostly traded in Canada) began to slide after some disappointing earning numbers in the middle of 2019. That, in turn, resulted in decreased valuations and a reduction in investment capital.

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