In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
Susan Villare is not alone in that sentiment. Numerous well-
Currently two out of every three cannabis purchases are made in the illicit market. Evidence suggests that disparity is getting worse. Legal sales have been on a two-year slide.”
East West Bank, the company’s main lender, canceled a line of credit last week that it had provided to Herbl, MJBizDaily reported. The company’s other investors include Measure 8 Ventures, Salveo Capital and Silverleaf Venture Partners, according to the news outlet.
The terms of Herbl’s receivership mean that investors and other claimants owed money could be paid before the cannabis brands the distributor served, MJBizDaily reported.”
The agency obtained search warrants and shut down the operations with the help of the Department of Fish and Wildlife, the Department of Tax and Fee Administration, the California National Guard and local law enforcement.”
#californiacannabis – “The winners of the second annual cannabis awards at the California State Fair have been announced, with Emerald Triangle farmers once again taking many top awards for the second year in a row.
This year’s competition featured indoor, outdoor, and mixed light divisions, with eleven categories per division, and “golden bear” awards for the “Best of California” category.”
#cannabispolitics – “In recent months, there have been growing discussions regarding when the agency may once again rule on the matter of cannabis’ scheduling and what they will recommend. Some have suggested that the agency may call for the rescheduling of marijuana to a lower classification (e.g., Schedule III) and have opined that doing so would address many of the existing conflicts stemming from federal prohibition.
Such optimism is likely misplaced.
Specifically, reclassifying cannabis to a lower schedule within the CSA continues to misrepresent the plant’s safety relative to other controlled substances such as cocaine and methamphetamine (Schedule II), anabolic steroids (Schedule III), benzodiazepines (Schedule IV), or alcohol (unscheduled). But more importantly, rescheduling marijuana fails to provide states with the explicit legal authority to regulate it within their borders free from federal interference.
Simply put, federally rescheduling cannabis does nothing to address the growing and untenable divide between state and federal cannabis laws. Following rescheduling, state laws authorizing citizens to possess cannabis for either medical or social purposes would continue be in violation of the federal law, as would be the thousands of state-licensed operators who currently serve these markets. And the DEA would still possess the same authority it has now to crack down on these state-regulated markets should it elect to do so.”
Several of the new enforcement tools at OCM’s enforcement disposal include:
- Issuing civil fines for unlicensed sellers.
- OCM and the New York State Department of Tax and Finance (“DOF”) new powers to conduct surprise inspections, seize illegal products, and obtain court injunctions against unlicensed sellers.
- New power for the DOF to fine cannabis dealers who aren’t paying the proper state taxes.
- A new tax fraud crime.
- A provision that reestablishes selling cannabis without a license as a criminal offense.”