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SAFE Banking Act Left Out of Defense Spending Bill

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A bid to include the SAFE Banking Act in a must-pass defense spending bill has failed, leaving advocates searching for a way to pass the legislation that would grant the legal cannabis industry access to banking services. Proponents of the measure had hoped to include provisions of the banking bill, known as the Secure and Fair Enforcement (SAFE) Banking Act, in the National Defense Appropriations Act (NDAA), an annual spending bill that funds the military. But the latest version of the NDAA released on Tuesday did not include the cannabis banking language.

Under the SAFE Banking Act, federal banking regulators would be prohibited from penalizing banks that choose to serve cannabis firms doing business in accordance with state law. Under current regulations, banks are subject to penalties under federal money laundering and other laws for servicing such companies, leaving the cannabis industry to operate in a risky environment heavy in cash. 

The legislation was initially introduced in the House in 2013 by Democratic Rep. Ed Perlmutter of Colorado, who has reintroduced the bill each subsequent congressional cycle. The bill has been passed seven times since 2019 by the House of Representatives, but each time the Senate has failed to bring the legislation to the floor for a vote.

Another amendment supported by cannabis policy reform advocates that would have given the states assistance with expunging past marijuana-related convictions also failed to make it to the final version of the defense spending bill. Before the latest text of the NDAA was released on Tuesday, Senate Majority Leader Chuck Schumer of New York told reporters that he was still working on getting the cannabis banking measure passed.

“It’s a priority for me,” Schumer said. “I’d like to get it done. We’ll try and discuss the best way to get it done.”

Republicans Balk At Adding SAFE To Defense Bill

But later in the day, Senate Minority Leader Mitch McConnell of Kentucky admonished Democrats for attempting to attach amendments not related to defense, including the SAFE Banking Act, to the spending bill.

“Even now, House and Senate Democrats are still obstructing efforts to close out the NDAA by trying to jam in unrelated items with no relationship to defense,” McConnell said on the Senate floor on Tuesday. “We’re talking about a grab bag of miscellaneous pet priorities — like making our financial system more sympathetic to illegal drugs, or the phony, partisan permitting-‘reform’-in-name-only language that already failed to pass the Senate this year.”

“If Democrats wanted these controversial items so badly, they had two years to move them across the floor. Heck, they could have scheduled those matters for votes this week. But no — we’re doing more mid-level nominations, while Democrats keep half-threatening to take our Armed Forces hostage over these extraneous matters,” said McConnell, adding “The Democrats’ failure to plan ahead for unrelated liberal pet priorities should not be creating uncertainty and confusion for the brave servicemembers who keep us safe. My colleagues across the aisle need to cut the unrelated hostage-taking and put a bipartisan NDAA on the floor.”

What’s Next?

The failure to include the SAFE Banking Act in the NDAA leaves the prospect of passing the cannabis banking legislation before the current Congress adjourns in two weeks unsettled. Morgan Fox, the political director for the cannabis policy reform group the National Organization for the Reform of Marijuana Laws, said that SAFE could be attached to a pending omnibus appropriations bill or perhaps be approved as standalone legislation.

“I’m glad that we still have other options,” Fox said Wednesday. “It’s pretty disappointing.”

“While there has been momentum and optimism around getting SAFE included in the National Defense Authorization Act, it has been known for some time that getting this through would be a challenge,” Sahar Ayinehsazian, partner at the cannabis law firm Vicente Sederberg LLP, wrote in an email to High Times. “The focus now is on the omnibus appropriations bill, which congress is currently negotiating. SAFE has growing support on both sides of the aisle and I, and many others in the industry close to this issue, think that there is a still a chance that movement can be made on SAFE via the omnibus bill during this session of Congress.”

The SAFE Banking Act is supported by a bipartisan coalition of lawmakers made up primarily of representatives and senators from states that have legalized medical marijuana or adult-use cannabis. The bill passed with overwhelming bipartisan support by a vote of 321-110 in the House last year, and senators from both parties are also in favor of passing the measure.

“The Senator is continuing to work every day to build consensus so we can pass “SAFE Banking” into law this year,” a spokesperson for Montana Republican Senator Steve Daines said in an email on Wednesday.

The senior senator from Montana, Senator Jon Tester, a Democrat, also said he “would like to see it pass this Congress.”

The banking bill is also supported by nearly two dozen governors in states that have liberalized marijuana policy. In a written statement, Conor Cahill, a spokesman for Democratic Colorado Governor Jared Polis, praised the work of Perlmutter and said he expects the legislation to pass this year.

“Governor Polis has long advocated for the passage of the SAFE Banking Act, and has repeatedly called upon Congress to pass this important legislation to protect cannabis-related businesses, support minority, women, and veteran-owned small businesses owners, create jobs, and strengthen public safety in Colorado communities and in the states,” Cahill wrote in a Tuesday email. “We hope and expect to see the final passage of his decade-long effort by the end of the lame-duck session.”

The post SAFE Banking Act Left Out of Defense Spending Bill appeared first on High Times.

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All You Need To Know About Import And Export Of Cannabis

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Cannabis, due to its ever-growing health benefits, is getting popular. It can be found in various forms in a number of industries. Over the past few years, an immense increase has been registered in the import exports of medical cannabis. Among many countries, the suite of clients related to cannabis is expanding. For this purpose, one needs a thorough, detailed legal advice related to manufacturing, overseas hemp import-export issues, and legal procedure or customs. 

Cannabis Import

Due to cannabis being a drug, the import and export of the products of medical cannabis internationally, including the ones made of low THC cannabis, are highly administered and subject to International Drug Convention.

It requires a legal approval of the national governments of both of the countries that are importing and exporting the products before the shipment can proceed. Some of the countries are lenient about food or nutritional products having cannabis, but it depends on the laws of different countries.

Cannabis Export

The supply of medicinal cannabis is not really affected, but it requires a legal import export license and permits to export.

There are several products of cannabis that are eligible for export with the license:

  • Cannabis resin extracts that are manufactured under Narcotic drugs act 1967 license and permit. But, it is applicable for the one that is not in the form of final dosage.
  • In Australia, medicinal cannabis products can be exported under a GMP license.
  • Export-only enlisted medicinal cannabis products or products that are registered on the Australian Registered Therapeutic Goods may also be eligible.

How to ship medical cannabis internationally?

Before you start shipping cannabis internationally, here is what must be kept in mind:

  1. Try to start with countries having developed health departments and strong export authorities. For example, countries like Colombia, South Africa, Lesotho, Jamaica, Australia, Canada, The Netherlands would do great.
  2. Take a start in countries in which federal laws allow the production of cannabis. There are quite a few countries like Mexico, Switzerland, Luxembourg.
  3. There are countries that allow medicinal cannabis imports, especially in the E.U.; so, find such countries to trade.
  4. Acquire cannabis import and export permits and make suitable deals. And always make sure you report all imports and exports to the International Narcotics Control Board (INCB).

For your information, The International Narcotics Control Board (INCB) is the “independent control body for international drug conventions” of the United Nations (UN). The 1961 Single Convention allows the manufacturing and administering of cannabis for research and medical purposes only, that too under certain conditions. The authorities decide a specific space or area where cannabis can be cultivated and has the exclusive right to import or export cannabis, trade at wholesale, and maintain supply. The countries having businesses related to cannabis have already taken such steps to proceed. 

The import export market for medical cannabis is expanding considerably. However, apart from the difficulties regarding permits and other legal issues, there are many other important matters to work through. Especially the quality standards of the product matter a lot. 

For that purpose, Good Manufacturing Practice (GMP) assurance is compulsory to trade medical cannabis. For instance, as such there are no designated standards of regulations between and among countries for medical cannabis quality check. That includes all contents, like adulterants, composition, ingredients, and the levels of toxic residues in the product. That is somehow scary thinking cannabis as a medicine. Supply chain integrity is also an issue. 

International trade laws of cannabis 

International trade is regulated by UN drug Control treaties (three-core), and notably by international trade and investment law. For instance, The UN drug control treaties like single Convention on Narcotic Drugs of 1961 (amended later) deal with this subject. Specific UN control treaties make sure the international import export of cannabis restricts to medical and research purposes only. Moreover, they set measures for export import of cannabis, such as schemes for permits and licensing.

To be brief, the treaties provide for some of the following purposes related to cannabis trade or import export:

  • The 1961 Convention includes cannabis and cannabis resin as a Schedule IV drug. Further, it restricts the import and export of schedule drugs for research and medical purpose only. This convention also limits the quantity of import of such drugs.
  • The 1971 Convention includes THC and its isomers in Schedule II  and prohibits the import and export of THC and similar drugs for research.
  • The 1988 amendment conclusively requires parties to criminalize imports and exports done in infringement to permitted trade under the above (1961 and 1971) conventions.

Companies that legally supports the import export of cannabis

Lately, with the legalization proceedings in U.S and Canada, this industry has flourished. Companies are now legally trading from Canada to U.S. 

The prominent companies that are legally trading medical cannabis are:

  • Tilray (TLRY)
  • Canopy Growth (CGC) 

References 

https://www.investopedia.com/insights/marijuana-companies-legally-export-cannabis-us/

https://www.healtheuropa.eu/seed-to-science-importing-and-exporting-cbd/96675/

https://www.dentons.com/en/insights/alerts/2020/january/15/global-cannabis-trade-a-primer-on-canadian-import-export-requirements-for-cannabis

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Popular CBD Beverages You Might Want to Try!

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Cannabidiol, or more commonly known as CBD, has always been a much talked about topic over the years. It is being widely promoted for providing relief for depression, anxiety, and PTSD. There are also claims that it can help you sleep. Given all its benefits, it’s no surprise that CBD has already penetrated the F&B industry. CBD beverages are among the easiest ways to access this substance. A survey conducted by High Yield Insights reported that 17% of the respondents had consumed CBD beverages. Thirty percent of the non-users also expressed interest in trying a CBD drink. 

Four CBD Beverages will Quench Your Thirst

Are you curious about the types of CBD beverages that are available out there? Here are some of the most popular ones. 

  1. CBD Water 

CBD water is manufactured by infusing water together with CBD particles. One of the issues with CBD water is that most of the brands available contain minimal amounts of CBD.

The amount in each serving differs by brand. Most have approximately 2 to 5 mg. Although recommended doses may vary, the majority of the studies that evaluate its beneficial effects have used amounts of at least 15 mg per day.

A word of caution: this type of water is quite expensive. A 16-ounce serving will set you back for about 4 to 7 USD. Buying in bulk may help you save a little, but a bottle can still cost you at least 3 USD. That is more expensive than other forms of CBD. 

  1. Cold Brews

Most people enjoy drinking cold brews. Unfortunately, some experience nervousness, anxiety, or “jittery” sensations with this drink. A cold brew with CBD allows you to get the boost offered by caffeine without the jitters! It also removes the harmful effects of over-caffeination.

  1. Kombucha

The Kombucha is a tea-based beverage that is highly known for its probiotic qualities. Meanwhile, its CBD-infused version helps in boosting your immunity. It also helps in relieving different symptoms. Unfortunately, the beneficial effects of the Kombucha-CBD combination have not yet been validated. 

  1. Cocktails

Bartenders have been experimenting in mixing CBD with booze. Given the fact that the substance offers sedation and relaxation without getting you high, it’s not a bad idea at all. 

Aside from its health benefits, the incorporation of CBD in cocktails can enhance the flavor and texture of your drink. Its taste is mostly neutral. It has green, chlorophyll-like notes that can provide a pleasant complexity to some drinks.

An owner-bartender even suggested that the top three cocktails that work best with CBD are spirits with strong flavors such as tequila, mezcal, or bourbon.

CBD Beverages: the next big thing in the market

Being highly touted to be the next big thing, CBD beverages forecast average annual growth of 75% in the U.S. from 2018 to 2023. 

Indeed, the impact and demand for CBD beverages are hard to ignore. One must proceed with caution, however, since the FDA still has not included it in its “generally recognized as safe” list. Drink at your own risk!

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Is Marijuana a CNS Depressant?

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Marijuana is a drug that people often use recreationally and also call it to weed. However, some even use it for medicinal purposes to cope with symptoms of chronic conditions. It can have depressant effects, but it is not a depressant. Also, it can act as a hallucinogen or stimulant. 

It contains delta-9- Tetrahydrocannabinol (THC), a psychoactive chemical that alters the mental state of the person who uses marijuana. Consuming, vaping, or smoking weed or marijuana can affect each person differently. It can have a strong depressant effect for many and may not on others. Different strains and types of plants can have a different effect on the mind and body. 

When a person uses marijuana, his stomach and lungs absorb THC in the bloodstream. This absorbed THC moves to the brain and other parts of the body. When it reaches the brain, it acts on brain cell receptors causing stimulant, hallucinogenic, and depressant effects. 

Marijuana or hemp is similar to alcohol as it contains both depressant and stimulant properties, as suggested by the National Institutes of Health in a publication. The side effects of marijuana begin quickly and also last longer than alcohol.

Many of the cannabinoids present in marijuana can cause side effects, just like depressants. The National Institute on Drug Abuse (NIDA) and Drug Enforcement Administration (DEA) has categorized marijuana as a psychoactive drug, with hallucinogen effects. Hence, marijuana is used widely across the globe as a powerful hallucinogen, according to the Center for Disease Control and Prevention. 

What are Psychoactive Drugs?

A psychoactive drug is a substance that has the potential to change the brain functions of a person. This type of mind-altering or recreational drug can lead to shifts in mood, perception, level of awareness, consciousness, and cognitive behavior or functioning. 

Regular marijuana consumption, especially higher doses, can cause unpleasant thoughts, disorientation, feelings of paranoia, or anxiety. It can affect emotions, attention, learning ability, coordination, decision-making, memory, and reaction time of a person.

Excessive usage can also interfere with work, daily functioning, relationship, and other regular activities. As these psychoactive substances are rewarding and have potential drug abuse, they can reinforce drug-seeking behaviors in the consumers, which can lead to addiction and dependence on these products. 

What are CNS Depressants?

CNS Depressants are substances that can slow or depress the central nervous system of a person. The Central Nervous system consists of the spinal cord and brain. The system is a complex network of nerves and neurons, which send messages or signals to all the parts of the body. 

CNS Depressants slow down the rate of regular activities occurring in the spinal cord and brain by slowing or depressing the rate at which the nerves of the body sends the signal. Depressants increase the amount of neurotransmitter gamma-aminobutyric acid (GABA) in the body, which hampers the transmission of signals in the nervous system. 

Sleep medications, benzodiazepines, and barbiturates are three common types of CNS depressant drugs. Prescription drugs like Valium and Xanax are used for the treatment of medical conditions like insomnia, anxiety, and seizures. Generally, these medications are safe and effective only when used as per prescription and for appropriate medical conditions.

Even though marijuana can cause effects similar to CNS depressants, it cannot be considered as a CNS depressant. The main reason for the sedative effect of marijuana is its ability to increase the level of dopamine in the body. However, marijuana doesn’t affect the level of neurotransmitter gamma-aminobutyric acid in the body.

A study conducted in the year 2016 has clearly indicated that the initial use of marijuana can increase the levels of dopamine in the body. However, long-term use of the drug can affect the level of neurotransmitter release. When the level of dopamine in the body goes down to normal, the user may experience low energy and lethargy. On the other hand, consistent use of the drug can cause the effects of CNS depressants. 

Risks associated with CNS Depressants

Risks of CNS depressants include addiction and dependence. When depressant is misused or taken for long-term, the risks associated are even higher. Consuming CNS depressants to achieve a high can cause dangerous and severe side effects. 

When consumers combine these drugs with other substances, it can lead to CNS depression or sleepiness. Overdose can result in a significant slowdown of breathing and heart rate of a person, which in turn can lead to deadly consequences that need emergency medical attention.

Depression and Marijuana

Specific evidence for the role of marijuana in causing depression is lacking. There is only limited research on the drug due to its classification into the Schedule I category. However, some studies have shown that marijuana’s high dose can aggravate depression. People who are suffering from depression may use weed or marijuana to numb or lighten the negative feelings. Similarly, people who use marijuana may feel depressed due to the CNS depressant effects of marijuana. 

The CNS depressant effect of marijuana includes:

  • The lesser feeling of anxiousness
  • Relaxation
  • Aiding sleep
  • Reducing insomnia

However, with long term use and overdose of marijuana, a person can experience side effects like:

  • Dizziness
  • Confusion
  • Slurred speech
  • Memory problems
  • Slow breathing
  • Poor concentration levels
  • Loss of interest
  • Dependency and addiction to marijuana 

It needs to be noted that the classification of a drug as a CNS depressant is different from the potential effect of the drug on depression. A drug that can depress the central nervous system of your body doesn’t cause depression symptoms like insomnia, loss of interest, or sadness unless the drug is used chronically for an extended duration.

Marijuana to treat Depression

Recent studies have shown that controlled use of marijuana or medicinal products derived from marijuana can help relieve symptoms of depression. The studies have shown the correlation between marijuana and depression depends directly on the amount and duration of use. 

In 2014, the Journal of Psychoactive Drugs had published clinical research that showed the use of marijuana is associated with reduced symptoms of post-traumatic stress disorder. The research showed that, on average, 75 percent of symptoms of PTSD were reduced with effective use of marijuana. However, scientists feel that there is a need for more research to account for variables.

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