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Treasury department studying cannabis banking bill (Newsletter: May 23, 2019)

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Square launches CBD payment processing; Texas Senate OKs medical marijuana expansion; CBD helps alcohol problems; Voters support record sealing bill

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/ TOP THINGS TO KNOW

Payment processor Square has quietly launched a pilot program to work with CBD businesses after years of rejecting them as clients.

During a line of questioning during a House hearing by Rep. Ed Perlmutter (D-CO), Treasury Secretary Steven Mnuchin said he’d rather discuss marijuana than President Trump’s tax returns. He also revealed that his department is actively reviewing pending cannabis banking legislation.

A poll found that 71% of U.S. voters support a bill from Reps. Lisa Blunt Rochester (D-DE) and Guy Reschenthaler (R-PA) to automatically seal marijuana convictions and provide processes to seal records for other nonviolent offenses. The lawmakers told Marijuana Moment in an interview that they also back more broadly descheduling cannabis—even though they haven’t yet cosponsored legislation to do so.

The Texas Senate unanimously approved a bill to expand the state’s limited medical marijuana program. Changes made by the chamber must now be reconciled with a House-passed version before being sent to the desk of Gov. Greg Abbott (R).

A scientific review concluded that CBD can reduce alcohol consumption, heal alcohol-induced liver damage and reduce alcohol-related brain damage.

/ FEDERAL

The Department of Justice asked the Supreme Court not to take up an appeal challenging the Internal Revenue Service’s enforcement of the 280E tax provision against marijuana businesses and its ability to conduct related investigations.

Rep. Seth Moulton (D-MA), a presidential candidate, said he’s open to considering the legalization of drugs beyond marijuana.

Former Rep. Beto O’Rourke (D-TX), a presidential candidate, spoke during a CNN town hall about his support for legalizing marijuana, expunging records and ending the war on drugs, but he sidestepped a question about decriminalizing drugs beyond cannabis. He also suggested that pharmaceutical company executives should be prosecuted.

Rep. Eliot Engel (D-NY) swore in members of the Western Hemisphere Drug Policy Commission.

Rep. Dina Titus (D-NV) tweeted, “Marijuana dispensaries that are forced to operate exclusively with cash are too often targets for violent robberies. That’s why I’m supporting the #SAFEBankingAct to ensure that cannabis businesses are treated just like any other small business.”

Rep. Ro Khanna (D-CA) tweeted, “As investors profit from marijuana, thousands of people every year continue to be arrested — especially in communities of color. The ‘war on drugs’ has been a war on people of color across this country. We must end the prohibition of cannabis and expunge all low level offenses.”

Former Labor Secretary Robert Reich tweeted, “The war on drugs has been a complete and utter failure, wasting billions of dollars and locking up millions. We must end this madness.” He also released a video about the need to end marijuana prohibition.

The House marijuana banking bill got two new cosponsors, for a total of 184.

The House marijuana descheduling bill got two new cosponsors, for a total of 29.

The House bill to seal records for marijuana and other nonviolent offenses got four new cosponsors, for a total of seven.

/ STATES

Pennsylvania Gov. Tom Wolf (D) tweeted, “LG @johnfetterman’s recreational marijuana listening tour wrapped up over the weekend.  There’s still time to tell us what you think about legalization. Use the online form, available through May.”

New Jersey’s Senate president said he’s not yet sold on legislation to decriminalize marijuana. Separately, the state’s principal deputy health commissioner is leaving her job to work in the cannabis industry.

Texas lawmakers sent Gov. Greg Abbott (R) a hemp bill.

Nebraska senators amended and advanced a hemp bill.

The Louisiana House of Representatives approved a bill to tax hemp and CBD products. Separately, the Senate Health and Welfare Committee advanced legislation to let patients inhale medical cannabis.

The Michigan House of Representatives approved a resolution calling on Congress to pass marijuana banking legislation.

The Alabama House Health Committee is expected to vote on a medical cannabis bill on Tuesday. Separately, the House Democratic Caucus tweeted, “Alabama House Democrats challenge our Republican counterparts to see the countless benefits medical marijuana could provide for ailing patients and opioid addicts, while providing the state with a consistent revenue source.”

California regulators released guidance on marijuana and alcoholic beverages.


Marijuana Moment is already tracking more than 1,000 cannabis bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.

/ LOCAL

The Cincinnati, Ohio City Council is expected to vote on a marijuana decriminalization proposal on Friday.

The Louisville, Kentucky Metro Council is considering a proposal to make marijuana the city’s lowest law enforcement priority.

The New York City Council speaker said it would be disappointing if the state doesn’t legalize marijuana.

/ INTERNATIONAL

The UK House of Commons adopted a resolution calling on the government to “immediately to act to ensure that medical cannabis is available to appropriate patients and in particular to children suffering severe intractable epilepsy.”

Denmark’s health minister said she would like to see consistent medical cannabis regulations across Europe.

The Canadian government announced $24.5 million in funding for marijuana research projects.

/ ADVOCACY

The Texas Democratic Party tweeted, “Texas Democrats believe we should legalize medical cannabis. HB 3703, common-sense Medical Marijuana expansion, just unanimously passed through the Senate. This is a good first step and will allow Texans in pain the relief that they deserve.”

Marijuana businesses formed a group called Californians for Equal Access that is working to oppose a lawsuit seeking to overturn a regulation allowing cannabis delivery services across the state.

The Kratom Information & Resource Center released a report highlighting what it believes is unfair media coverage of the substance.

/ SCIENCE & HEALTH

A study found that “medical marijuana law implementation in US states has been associated with greater substance use treatment utilization by pregnant adult women, especially in states with legally protected dispensaries.”

A study found that in a “sample of non‐fatally injured motor vehicle drivers in British Columbia, Canada, there was no evidence of increased crash risk in drivers with THC<5ng/mL and a statistically non‐significant increased risk of crash responsibility.”

/ OPINION & ANALYSIS

The Boston Herald editorial board is urging Massachusetts police to crack down on marijuana smoking in public at events.

/ BUSINESS

Following months of internal deliberations, Facebook decided to continue disallowing state-legal sales of marijuana on its platform.

Colorado retailers set a monthly marijuana sales record in March.

/ CULTURE

National Football League Commissioner Roger Goodell said the league will follow medical advice on whether players should be allowed to use cannabis for pain.

Comedian Andy Richter tweeted, “I masturbated with CBD lotion and my penis moved to Berkeley to learn ceramics.”

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Tom Angell is the editor of Marijuana Moment. A 20-year veteran in the cannabis law reform movement, he covers the policy and politics of marijuana. Separately, he founded the nonprofit Marijuana Majority. Previously he reported for Marijuana.com and MassRoots, and handled media relations and campaigns for Law Enforcement Against Prohibition and Students for Sensible Drug Policy.

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