Connect with us

Government

Federal Cannabis Legalization Slips Further Away – SAFE Banking Act Removed from the China Competition Bill

Published

on

Many in the cannabis industry saw the SAFE Banking Act as the saving grace for the financial troubles of the cannabis industry. The act was meant to change the scope of the financial constraints and burdens of the industry. However, changes and moves in the Senate have seen it removed from the COMPETES Act thanks to the Republican senators. Read on as we take a look back into the history of the act and the implications of this removal on the cannabis industry.

The SAFE Banking Act so far….

Before we delve into the happenings around the removal of this act and the impact it will have, we will go back to check its history. The SAFE Banking Act is a special bill put forward to help stabilize the finances of the cannabis industry at the federal level. The act is known as the Secure and Fair Enforcement Act and it is seen by many as the solution to the financial systems problems of cannabis business owners. The current financial system puts services such as loans and payrolls, and checking and deposit accounts under tight regulations from the cannabis industry. This means that limited financial institutions are open to serving cannabis business owners with the financial services they so desperately need.

The special act was included in the COMPETES Act of the House which was spearheaded by the Democrats. The COMPETES Act was set up to enable the U.S effectively increase its ability to compete with China on all fronts. The America COMPETES Act stands for Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength Act of 2022. The act comprises different bills to strengthen manufacturing in the U.S. and also put it in the right place to compete with China.

The SAFE Banking Act has been included when this bill passed the House fives times in the past three years yet it hasn’t been validated. Until recently, it had been passed as a standalone bill after its first introduction in 2013 yet it has always failed to gain needed approval. This failure has been disappointing as hopes have been very high every time the bill made its way to the house. The temperature in the cannabis industry and from some lawmakers shows this might not be the last of the SAFE Banking Act.

What does this removal mean for the Cannabis industry?

The prime sponsor of the bill, Rep. Ed Perlmutter (D-CO) has reacted to the inability of this bill to be passed as being unfortunate. He believes sidelining the cannabis industry from the financial system is affecting lives and businesses beyond measure. The bill has been unable to scale past the Senate’s bipartisan U.S Innovation and Competition Act after the COMPETES Act passed last year. This has kept help away from the cannabis business owners in the industry who need assistance from the financial system.

The Republican lawmakers who repelled the Act were also without reason as they purported the action. Their argument remains that the bill is not a good fit with the legislation of the COMPETES Act which is a China Competition bill. The Democrats on the other hand are seeking to pair the bill as a form of social justice measure that will be hard to get passed in a committee. This has put the bipartisan agreement needed to pass the bill and enact it to a standstill and halted progress.

Reactions from the cannabis industry

Reactions around the cannabis industry have been flying in following the recent actions around the SAFE Banking Act in the House. The president of the U.S Cannabis Council, Steven Hawkins still believes that there is enough political will and support to help pass the bill. He believes this can be done by pairing the bill with other cannabis and criminal justice reforms. Hawkins has stated that the council aims to work with allies and members to ensure that this gets done soon. He doesn’t accept the present setback as a final stop and believes with the needed willpower and support, the bill will be finalized.

The U.S Conference of Mayors is the latest to speak on the need for the SAFE Banking Act to come to life. In its last meeting, the body endorsed a resolution that calls on Congress to pass federal banking reforms for the cannabis industry. The body addresses the loopholes of state laws and federal laws of cannabis as a problem for legal cannabis business owners. Without proper structures and laws, the body believes owners of legal cannabis businesses will be at the losing end except the lawmakers act.

The political director of the National Organization of Reform of Marijuana Laws (NORML), Morgan Fox, has reacted to the news of the removal. Fox believes that it is unfathomable that the house has refused to pass this bill for the sixth time of asking. He believes that it’s disappointing that the lawmakers are allowing politics to come first when many businesses and people are suffering. He also described the SAFE Banking Act as being in a legislative twilight zone making it hard to see the light of day.

Michael Sassano, CEO of Somaí Pharmaceuticals, a company that manufactures cannabis products believes the SAFE Banking Act is a way for lawmakers to make the industry safer. He believes Congress is missing out on this chance because they are proving to play it easy. A move that doesn’t factor in the owners of the cannabis businesses and their employees.

Bottom line

The present reality now is that advocates of reforms will have to try again to get passage of the bill. The U.S is sizing up to head into the midterm elections and the window to pass some cannabis reforms is passing. Fox has stated that the House is wasting a unique opportunity to help hundreds of thousands of Americans through meaningful bipartisanship. Activists and reform advocates have restated their commitment to seeing this bill come to life and we might see it come to life in no time.

Source: https://cannabis.net/blog/news/federal-cannabis-legalization-slips-further-away-safe-banking-act-removed-from-the-china-compet

Corruption

Vigilance Arrests Officials After Bribery Complaints at Supply Office

Published

on

By

HARIDWAR, Uttarakhand — Officials from the Dehradun-based Vigilance Department have arrested Haridwar District Supply Officer Shyam Arya and two other employees on charges of accepting a bribe of ₹50,000, authorities confirmed. The arrests took place during a planned operation after investigators laid a trap at the District Supply Office in response to repeated complaints from the public.

According to vigilance sources, the accused were caught “red-handed” while receiving the alleged bribe, reportedly demanded in exchange for official services within the department. The operation, coordinated from the state capital of Dehradun, underscores the department’s commitment to tackling corruption.

Complaints That Triggered the Operation
The arrests followed months of complaints alleging that officials at the Haridwar District Supply Office were routinely soliciting illegal payments for government services. These included the issuance of ration cards, approvals for licenses, and other administrative clearances under the public distribution system.

Vigilance officials said preliminary verification of the complaints indicated a recurring pattern rather than isolated incidents. Following this assessment, the department used a standard anti-corruption tactic of laying a trap to obtain direct evidence of bribe solicitation and acceptance.

Inside the Supply Office
After the arrests, vigilance teams established a presence inside the office, sealing parts of the premises while examining files and records. Investigators are reviewing documentation related to recent approvals and transactions to determine whether the alleged bribery was systemic.

The accused are also being questioned to identify potential accomplices and to ascertain whether accepting bribes was a routine practice. Officials noted that the investigation could expand depending on findings from the document review and interrogations.

A Broader Anti-Corruption Push
The case has drawn attention across Uttarakhand’s administrative machinery, particularly within the Supply Department, which plays a vital role in delivering welfare services. Vigilance officials said the arrests reflect a “zero-tolerance” approach toward corruption and warned that similar operations will continue wherever credible complaints arise.

The state’s anti-corruption drives have intensified in recent months, emphasizing both deterrence and accountability. While the investigation in Haridwar remains in its early stages, officials say it highlights the risks faced by public servants accused of exploiting their positions and the growing willingness of enforcement agencies to act on citizen complaints.

Continue Reading

Business

A Tipping Point for Cannabis: President Trump Champions CBD & Cannabis Science on Truth Social

Published

on

By

When the President of the United States shares a video about the life changing potential of hemp derived CBD on his personal social media platform, it is more than news, it is a cultural shift.

For decades our government lied to us about cannabis. It demonized the plant, waged war on its users, and filled prisons while allowing pharmaceutical companies to flood the nation with addictive and deadly drugs. For over a century we have been fighting uphill, not just for legalization, but for truth, for science, and for the right to heal ourselves naturally.

Now in 2025, the most powerful political figure on Earth is using his own voice and platform to talk about the endocannabinoid system and the science backed benefits of CBD. That is monumental. It is validation for everyone who has fought, been arrested, been silenced, and been dismissed for telling this truth. The President’s video post is already being described as a pivotal moment in cannabis history, and President Trump CBD Cannabis Science Truth Social is trending across platforms as advocates celebrate the breakthrough.


The Science Behind the Endocannabinoid System

The video begins by introducing something most people, including many doctors, still know little about, the endocannabinoid system. Discovered in the 1990s, the ECS is a network of receptors and signaling molecules that works as the body’s master regulator, coordinating communication between major systems like the nervous, immune, cardiovascular, and digestive systems.

The roots of this discovery go back much further. CBD was first isolated in 1940 by American chemist Roger Adams, but it was Dr. Raphael Mechoulam, an Israeli organic chemist, who fully elucidated the chemical structure of CBD and identified its stereochemistry in the 1960s. His pioneering work not only opened the door to modern cannabinoid science but also earned him the title “Godfather of Cannabis Research.” It was this foundation that led to the identification of the endocannabinoid system itself decades later, revealing how cannabinoids interact with our physiology on a fundamental level.

The ECS is now widely recognized as a vital part of human biology, with extensive research supported by the National Institutes of Health. When functioning properly, the ECS acts like the conductor of an orchestra, ensuring every section plays in harmony. As we age, the system weakens. That imbalance is linked to inflammation, chronic pain, cognitive decline, sleep problems, and many other conditions associated with aging.

Mainstream medicine often addresses these issues with pharmaceutical band aids, dangerous and addictive drugs that treat symptoms rather than root causes. Lifestyle changes such as diet and exercise help, but they only partially support the ECS and do so slowly over time.


Hemp Derived CBD: A Game Changer for Aging

Here is where the science gets exciting. As the video explains, the ECS can be restored much more quickly with hemp derived CBD. Strengthening this system naturally helps the body regain balance, reducing pain, improving sleep, lowering stress, slowing disease progression, and even extending healthy lifespan.

It is not theoretical. One in five seniors is already using CBD to manage pain, arthritis, cancer symptoms, sleep disorders, Alzheimer’s, and more. Despite decades of research and acknowledgment from institutions like the National Institutes of Health, most physicians receive no training on the ECS. There are still no FDA standards for CBD products on the market. If that were the case for any other class of medicine, it would be considered malpractice.

The World Health Organization has confirmed CBD’s excellent safety profile and non addictive nature in its critical review report. The result is that millions of older Americans are suffering unnecessarily when a safe and natural solution exists.

Hemp derived CBD is a powerful first step in restoring balance to the endocannabinoid system, but it is only part of the picture. Research shows that full spectrum cannabis extracts, which include a broader range of cannabinoids and terpenes, can work even more effectively. Complete concentrated cannabis oil, containing the full spectrum of natural endocannabinoids, may deliver the most profound results for certain patients. Expanding access to these therapies will be essential if we want to unlock the full healing potential of this plant.


The Economic and Social Impact

The video cites a powerful figure. A PricewaterhouseCoopers analysis estimates that fully integrating cannabis into the healthcare system could save the United States nearly 64 billion dollars annually. These savings reflect reduced pharmaceutical dependency, fewer hospitalizations, improved chronic disease outcomes, and enhanced quality of life for aging Americans. You can read more about PwC’s research on healthcare innovation here.

It is a financial argument, but it is also a moral one. Why should our elders endure pain, anxiety, and cognitive decline when nature has given us tools to help them live longer, happier, and healthier lives?


A Call to Action: Finish What the Farm Bill Started

The message concludes by crediting the 2018 Farm Bill, championed by President Trump, for legalizing hemp and laying the groundwork for today’s CBD market. The Farm Bill was just the first step.

Now the call is for bold next moves.

  • Educate doctors about the endocannabinoid system
  • Include CBD under Medicare coverage
  • Provide clear federal standards for CBD quality and dosing

These steps would constitute the most significant senior health reform in modern history, one that would transform aging and cement a powerful legacy for any administration that makes it happen.


What This Means for Future Cannabis Medicine

For those of us who have been in the cannabis community for decades, this is not just another news story. It is a signal that our movement is winning. A conversation that was once criminalized and censored is now being amplified by the President of the United States on his own platform.

It means the science is undeniable. It means the truth can no longer be buried. It means the wall of prohibition is cracking, not just legally, but culturally, scientifically, and politically.

It also means that everything we have been fighting for at 420 Magazine since 1993, education, access, healing, and justice, is finally moving full steam ahead. The President Trump CBD Cannabis Science Truth Social moment is proof that science and policy are finally converging.

Continue Reading

Business

New Mexico cannabis operator fined, loses license for alleged BioTrack fraud

Published

on

New Mexico regulators fined a cannabis operator nearly $300,000 and revoked its license after the company allegedly created fake reports in the state’s traceability software.

The New Mexico Cannabis Control Division (CCD) accused marijuana manufacturer and retailer Golden Roots of 11 violations, according to Albuquerque Business First.

Golden Roots operates the The Cannabis Revolution Dispensary.

The majority of the violations are related to the Albuquerque company’s improper use of BioTrack, which has been New Mexico’s track-and-trace vendor since 2015.

The CCD alleges Golden Roots reported marijuana production only two months after it had received its vertically integrated license, according to Albuquerque Business First.

Because cannabis takes longer than two months to be cultivated, the CCD was suspicious of the report.

After inspecting the company’s premises, the CCD alleged Golden Roots reported cultivation, transportation and sales in BioTrack but wasn’t able to provide officers who inspected the site evidence that the operator was cultivating cannabis.

In April, the CCD revoked Golden Roots’ license and issued a $10,000 fine, according to the news outlet.

The company requested a hearing, which the regulator scheduled for Sept. 1.

At the hearing, the CCD testified that the company’s dried-cannabis weights in BioTrack were suspicious because they didn’t seem to accurately reflect how much weight marijuana loses as it dries.

Company employees also poorly accounted for why they were making adjustments in the system of up to 24 pounds of cannabis, making comments such as “bad” or “mistake” in the software, Albuquerque Business First reported.

Golden Roots was fined $298,972.05 – the amount regulators allege the company made selling products that weren’t properly accounted for in BioTrack.

The CCD has been cracking down on cannabis operators accused of selling products procured from out-of-state or not grown legally:

Golden Roots was the first alleged rulebreaker in New Mexico to be asked to pay a large fine.

Source: https://mjbizdaily.com/new-mexico-cannabis-operator-fined-loses-license-for-alleged-biotrack-fraud/

Continue Reading

Trending

Copyright © 2022 420 Reports Marijuana News & Information Website | Reefer News | Cannabis News