The SAFE Banking Act has languished in Congress since early 2017, a victim of political gridlock and division, as well as political wrangling over broad approaches to cannabis legalization. We last covered the SAFE Banking Act in February, when it looked as though 2022 would be the sixth year in which this bill would die.
Medical cannabis is legal in Mexico, but not much has been happening lately with legalizing cannabis for adult use. Oaxaca has made some effort to decriminalize recreational cannabis consumption, and earlier Mexican Supreme Court decisions declared prohibition unconstitutional, but other than these things, legalization and regulation of recreational cannabis has stalled in Mexico. Mexico’s Cannabis Law
Many cannabis handshake deals result in the parties forming an inadvertent cannabis partnership. The words “partnership” and “joint venture” are often thrown around casually. Many early stage cannabis entrepreneurs know they want to do some type of business venture, often with a business partner, but they often do not know why or how to avoid
Argentina’s Chamber of Deputies has approved a law to regulate the hemp and medical cannabis industries. According to one of the bill’s sponsors, “a new industry has been born in Argentina” with the passage of the bill (which we flagged last summer in Legalization in Latin America: Who’s Next After Mexico?). The new law enjoyed
Last week, a coalition of major food and beverage companies (self-identified as “consumer packaged goods companies”) asked Congress to do more about the growing number of copycat THC edible products and counterfeit trademarks piggybacking off of their well-known items. The letter was signed by the Consumer Brands Association and fourteen other associations and companies, including
With so many new proposals for reconceptualized federal cannabis legislation floating around Congress, this summary should help clarify the differences to distinguish each bill from the others. This post will cover the MORE Act, the PREPARE Act, the States Reform Act, and the Cannabis Administration and Opportunity Act. Part two in this series will cover
Foreign investors (often in countries that prohibit cannabis) are eager to invest in burgeoning state cannabis markets in the U.S. This can often go very wrong, especially if the investor gets bad legal or tax advice. Our cannabis attorneys and our foreign direct investment team have seen these problems crop up again and again. Today,
Investors in marijuana businesses face many risks. To name just a few: the subject of their investment is illegal under federal law; the businesses in which they are investing face heavy tax burdens because of IRC 280e; and the lack of access to banking services means businesses operate nearly exclusively cash, which makes tracking sales,
Sin dejarse intimidar por el vacío de liderazgo federal en materia de cannabis, los estados siguen presentando propuestas y programas relacionados con esta sustancia. Un total de 34 estados estudiaron propuestas de reforma del cannabis en 2021. Otras 32 propuestas (algunas de ellas presentadas previamente en 2021) se someterán a debate aquí en 2022. Estas propuestas abarcan desde medidas de despenalización limitadas hasta una regulación integral del consumo por parte de adultos
Like all commercial litigation, cannabis business litigation is expensive and in most circumstances a party cannot recover its attorneys’ fees. The exception is where recovery is authorized by a contract or a statute. This post discusses how a party in commercial litigation—whether involving cannabis or not—can use an Offer of Judgment to leverage a more
