While cannabis legalization moves full steam ahead through much of the Northeast, the southeastern U.S. has been notably slow to uptake major reforms. These states haven’t made major headlines for their progressive cannabis policies, but together they constitute a major market that has, nevertheless, dipped its toe in the water. As such, we thought we’d
Introduction
Although marijuana legalization continues to be a hot topic in the new year, it is noteworthy that the federally legal hemp industry continues to develop across the country. New York, one of the nation’s major markets, now counts itself among the states with a fully regulated hemp cultivation, processing, and retail program. The New
On November 18, a bipartisan group of attorneys general from Arizona, Connecticut, North Dakota, and Vermont (Attorneys General) jointly submitted a letter offering commentary on the Cannabis Administration and Opportunity Act (CAOA) to congressional leaders. In it, the Attorneys General stressed the importance of establishing a “cooperative federal-state partnership” that strikes the right balance to
There are many unique challenges to consider when it comes to opening or investing in a cannabis business. Residency requirements, or prohibitions on licensure of nonresidents, are one that may soon see their end. In other industries, requirements that business licenses be reserved for residents of a certain state are largely a thing of the
Governor Gavin Newsom recently signed California Assembly Bill 45 (AB 45) into law, which, among other things, allows hemp-derived cannabidiol (CBD) to be included in any food, beverages, and dietary supplements sold in California. This is not only a break from California’s prior position prohibiting CBD from being included in such products even as the
It is widely known that trafficking in controlled substances is a crime under federal law. Traffickers and would-be traffickers be warned, however, that if you do choose to make income from trafficking in Schedule I or II controlled substances (including cannabis, cocaine, or psychedelic mushrooms), that income is fully taxable by the U.S. government. And
Our Regulatory Oversight Blog has been abuzz with news about the newly galvanized Federal Trade Commission (FTC or Commission). Besides beginning to flex its antitrust muscle, the FTC is also taking on deceptive trade practices, with its latest target being the deceptive use of the “Made in USA” or “Made in America” labels. On August
Between July 20-22, 2021, state securities regulators in New Jersey, Texas, and Alabama took aim at BlockFi — a cryptocurrency-based platform that has raised $14.7 billion from investors — related to the company’s interest-bearing crypto accounts. This regulatory scrutiny, brought by a bipartisan group of state securities regulators, may prove significant given that state and
Democratic Senators Chuck Schumer, Cory Booker, and Ron Wyden recently unveiled the latest legislative attempt to make cannabis legal at the federal level. The Cannabis Administration and Opportunity Act (CAOA) is not the first attempt of its kind — several iterations of the MORE Act and the SAFE Banking Act have been introduced multiple times.