Cannabis
PoliticsThe Canadian PressNew era for pot regulation leaves old problem: Many cannabis companies can't find a bank
LOS ANGELES (AP) — The Biden administration's move to reclassify marijuana as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services that other businesses take for granted. “As far as financial institutions, I don’t necessarily think it’s going to have a demonstrable effect” on how they deal with cannabis operat
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DEA's reclassifying marijuana sends signal to DC: Curaleaf CEO
Drug Enforcement Administration (DEA) officials have proposed reclassifying marijuana (or cannabis) as a Schedule Three drug. Despite a majority of states having legislation allowing for medicinal and recreational use, marijuana it still classified as a Schedule One narcotic along with heroin. Curaleaf (CURLF) CEO Matt Darin sits down with Catalysts Hosts Seana Smith and Madison Mills to talk about how long cannabis businesses has been waiting for a change like this and what it signifies for the future of the industry and the SAFE Banking Act. "It's a long time coming, but I think the findings are really backed in science and backed under a very detailed review that the government did to evaluate the medicinal benefits of cannabis," Darin says, "and that it truly does belong as a Schedule Three, a substance versus Schedule One on par with things like heroin and fentanyl which all Americans have known for quite some time, just was not right." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
NewsThe Canadian PressWhat marijuana reclassification means for the United States
WASHINGTON (AP) — The U.S. Drug Enforcement Administration is moving toward reclassifying marijuana as a less dangerous drug. The Justice Department proposal would recognize the medical uses of cannabis, but wouldn't legalize it for recreational use. The proposal would move marijuana from the “Schedule I” group to the less tightly regulated “Schedule III." So what does that mean, and what are the implications? WHAT HAS ACTUALLY CHANGED? WHAT HAPPENS NEXT? Technically, nothing yet. The proposal m
