Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, an old friend reappears, the White House shares its thoughts with Congress, rescheduling hearings start, and finally, there’s info about weed at the New York state fair.
Link to SAFE BANKING SAFE BANKING
The 21st century has been unpredictable, to say the least. But one thing you can rely on is that the SAFE Banking Act (aka the SAFER Banking Act) will be introduced in Congress. It will often have bipartisan support. Hearings will focus on the wildly unsafe practices that result from having no way for customers to use credit to make purchases. (There’s a store full of cash and pot – what could go wrong?) It will often pass the House. And then it will burn out, only to rise again from its ashes – like a phoenix. So we’re now back to stage 1: introduction. Could 2026 be the year we see it become law? That seems very unlikely, but anyone who, a quarter way through this roller coast of a century, discounts the possibility of an unlikely thing happening has not been paying attention.
Link to HEMP RESTRICTIONS HEMP RESTRICTIONS
It’s been a hard year for the hemp industry and this fall they will face an existential crisis, as what amounts to a federal recriminalization will take effect. The White House is aware of this, and has sent a letter to Congress, asking them to take action to prevent this pending disaster for hemp farmers. Note that the letter is about a lot of things the White House would like Congress to do; the hemp part comes literally in the second paragraph from the end. Will Congress reconsider its earlier legislation? Will the hemp industry be saved? Stay tuned.
Link to RESCHEDULING RESCHEDULING
Following up on last week’s piece on the Drug Enforcement Administration’s (DEA) hearings on rescheduling cannabis, the hearings have started. No recordings of this opponent-only testimony are allowed, but the cannabis press has offered up some articles. The hearings are due to wrap up on July 15.
Link to AND FINALLY AND FINALLY
It’s state fair season, when folks gather to celebrate local agriculture, venture on to carnival rides and eat more corn dogs than they really should. In New York, the Empire State Green Standard Alliance (GSA) will host the first ever cannabis advocacy booth at the Great New York State Fair. The group hopes to educate fairgoers about testing, labeling, safety and where to buy legal products.
Be well everyone – we’ll see you next week!