The Food and Drug Administration (FDA) has issued an announcement seeking public comment on the “abuse potential, actual abuse, medical usefulness, trafficking, and impact of scheduling changes on availability for medical use” of cannabis and several other substances now under international review.
This announcement comes in response to the upcoming meeting of the World Health
What if a company patented any liquid form of high-potency cannabis? And, what would happen if that company used the patent to shut down the operations of anyone making these liquid forms? Those are the questions raised by a lawsuit filed in Colorado federal court on July 30, 2018, and the answers could have existential
On June 7, 2018, a supermajority of the Washington Legislature blessed financial institutions and accountants providing services for the licensed marijuana industry. The new law is comfort legislation for a special class in Washington. It is also a protest against impressions about the threat of federal prosecution. But what comfort is the legislation for persons falling outside the protected group? Does it provide any comfort or is it the proverbial cold comfort? The answer may be economics and politics (limited funds to target violent crime, federal/state relations and votes) should reduce the threat of prosecution, regardless of the new legislation.
Continue Reading 2018 Washington State Comfort Legislation for the Financial Industry and Accountants Dealing With Licensed Marijuana Businesses
As we reported last week, U.S. Attorney Jeff Sessions issued a memorandum on January 4 rescinding the seminal cannabis “Cole Memo” and other DOJ guidance involving cannabis. This has raised continuing issues and confusion for financial institutions concerning what the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) would do concerning the guidance it
In what could hardly be characterized as a surprise, on January 4, U.S. Attorney General Jeff Sessions issued a memorandum (the “Sessions Memo”) that rescinds the seminal cannabis “Cole Memo” of August 29, 2013 and other previous Department of Justice (DOJ) guidance involving cannabis. The implications of this rescission for the medical and
Our client Periodic Edibles has launched a podcast focused on the business and science of cannabis. Wayne Schwind, the CEO and Founder of Periodic Edibles — a cannabis-infused caramel company — hosts the show. The podcast takes a deeper look at business owners, founders and executives inside the cannabis industry and features stories about how
In the recent issue of GQ magazine, an article entitled, “The Great Pot Monopoly Mystery,” sought to unravel some of the mystery behind the “shadowy” BioTech Institute LLC. The article made a particular point that should be of immediate concern to those in the Cannabis industry – BioTech’s burgeoning patent portfolio.
Continue Reading The Cannabis Patent War: In the Midst of Chaos, There is Opportunity*
Adult consumption of marijuana for medical or recreational purposes is legal in many states, including Washington State. Consumption also effectively is decriminalized (but still illegal) in British Columbia, Amsterdam, and other cities and provinces. Yet foreign citizens who have ever smoked pot or consumed any type of cannabis — even where it is legal —
In the past five years, twenty-nine states and the District of Columbia (DC) have voted to legalize medicinal marijuana; and seven states and DC have legalized recreational marijuana use. The federal government has historically classified cannabis, whether in the form of marijuana, hashish or hash oil, as an illegal controlled substance. However, in 2011, the Department of Justice (DOJ) changed its policy regarding the enforcement of the Controlled Substances Act in states where marijuana is legal. The Cole Memo explained the DOJ’s new policy of not prosecuting or seizing assets from marijuana businesses and users that complied with state law.
Continue Reading Medicinal marijuana patients’ protection from federal enforcement extended through the end of the fiscal year on September 30.
The U.S. Drug Enforcement Agency (DEA)’s recent decision declining to reschedule cannabis is a step bridging the national discussion — a step toward a possible agreement on medical cannabis through scientific research. The federal agencies are calling for more research and “work to … ensure support by the federal government for the efficient clinical research using marijuana.” These calls create an opportunity for research scientists in Oregon, Washington and elsewhere, as well as opportunities for universities and initiatives like the University of Washington Cannabis Law and Policy Project. They are also a reminder not to squander first-mover benefits.
Continue Reading The DEA Is Getting Past Just Saying No: Scientific Research Into Medical Uses of Marijuana Is a Bridge Toward a Policy Shift