Business
We’ll Get to It When We Get to It Says Biden Administration about Marijuana Legalization Review
DEA Chief throws Biden Adminstration under the bus as she has recieved no guidance on early promises of reviews
According to the DEA’s administrator, the agency has not received a clear timeline from the Biden administration regarding the study of marijuana’s federal status, as suggested during a congressional hearing. In response, Tennessee Democrat U.S. Rep. Steve Cohen stated his intention to speed the process.
Last autumn, President Joe Biden initiated an “administrative review” to reevaluate marijuana’s classification under the Controlled Substances Act. As part of this process, public health agencies such as the U.S. Food and Drug Administration (FDA) and the Department of Health and Human Services are currently studying published scientific data, including information from state regulators’ medical marijuana programs.
The health agencies will then provide a recommendation to the DEA after considering the scientific evidence. Health Secretary Xavier Becerra stated in June that the aim is to complete this process by the end of the year.
However, during the recent congressional hearing, DEA Administrator Anne Milgram was less definitive about the timeline, stating that she had yet to receive a specific timeframe for the consideration and rescheduling recommendation.
President Biden has expressed his support for federal medical cannabis legalisation and marijuana decriminalisation. Rescheduling marijuana, currently categorised as a Schedule 1 controlled substance, would significantly benefit the marijuana industry, as it would remove tax restrictions under Section 280E of the federal tax code.
Congressional Pressure Mounts for Swift Action
DEA Administrator Anne Milgram’s disclosure that the Biden administration has not provided a specific timeline for rescheduling marijuana has sparked growing congressional pressure for a swift resolution. Leading the charge is Tennessee Democrat U.S. Rep. Steve Cohen, who expressed concerns over the lack of clarity and called on the DEA and relevant agencies to expedite the process. The potential benefits rescheduling drives Rep. Cohen’s urgency could bring to the cannabis industry and the public.
The current Schedule 1 classification presents challenges for legitimate cannabis businesses operating within state laws, including restricted access to banking services and burdensome tax restrictions under Section 280E. By advocating for a quicker resolution, Rep. Cohen aims to unlock the industry’s potential, stimulate economic growth, and improve patient access to medical cannabis. However, opponents of marijuana reform still raise concerns about potential abuse, increased access by minors, and long-term health effects, underscoring the need for a balanced approach in the ongoing deliberations.
Rep. Cohen’s demand for a specific and accelerated timeline underscores a rising belief that it is time for the federal government to take decisive action on marijuana rescheduling, even as the marijuana industry, patients, and advocates wait for additional details. Although it’s unclear whether the Biden administration will respond with a more specific strategy, the situation will be widely studied in the coming months. A crucial part of the ongoing discussion will be striking the correct balance between the benefits of rescheduling for the economy and society and public health considerations.
The Impact of Marijuana Rescheduling on the Industry
Marijuana’s potential rescheduling from Schedule 1 to a lower classification carries significant implications for the cannabis industry. A key advantage would be removing tax restrictions under Section 280E of the federal tax code. Currently, legal cannabis businesses face high tax rates due to their inability to deduct ordinary expenses, hindering their growth and financial viability. Rescheduling could alleviate this burden, enabling companies to reinvest in research, development, and expansion, stimulating economic growth within the industry.
Additionally, rescheduling could pave the way for increased research and development in the medical cannabis sector. As a Schedule 1 substance, marijuana’s classification restricts scientific research on its medical benefits. A shift in classification would facilitate more extensive studies, allowing scientists to explore its therapeutic potential further. This could lead to the development of new and more effective medical treatments, benefiting patients and potentially contributing to advancements in public health.
Beyond economic and scientific impacts, marijuana rescheduling may transform public perception. The Schedule 1 label has long been associated with criminality, perpetuating the stigma around cannabis. By rescheduling, the federal government could help dispel negative stereotypes, promoting a more positive image of the cannabis industry as a legitimate sector. As the stigma subsides, it may engender increased public support for cannabis reform efforts at the state and federal levels.
However, successful rescheduling necessitates a well-crafted regulatory framework. The transition to a new classification would require careful consideration of quality control, safety standards, and equitable access. Striking the right balance between regulation and free market principles will be pivotal in ensuring the industry’s responsible growth and safeguarding public interests.
The Biden Administration’s Stance on Cannabis Policy
President Biden’s stance on cannabis policy has transformed over time. During his tenure as Vice President, he adopted a cautious approach, opposing federal legalisation and supporting strict enforcement of drug laws. His stance has changed, though, becoming more progressive, particularly regarding the decriminalisation of marijuana and the use of medical cannabis. Biden advocated for cannabis policy changes throughout his 2020 presidential campaign, including federal decriminalisation, expunging prior convictions, and allowing states to enact their marijuana laws free from federal meddling. He also underlined the significance of giving cannabis research top priority to better grasp its possible advantages and disadvantages.
The “administrative review” launched last year to reevaluate marijuana’s classification under the Controlled Substances Act was considered a positive step forward. It demonstrated the administration’s willingness to reconsider the long-standing federal stance on marijuana and explore its potential medical applications. However, the lack of a specific timeline for completing the review has left stakeholders in the cannabis industry and advocacy groups eagerly awaiting more definitive action from the Biden administration. The delay has sparked calls for greater transparency and urgency in addressing this critical issue.
Proponents of rescheduling marijuana highlight the potential benefits of such a move. The cannabis sector might gain from fewer tax limitations and easier access to financial services by eliminating the plant from its present Schedule 1 status. Additionally, rescheduling would create new opportunities for cannabis research, enabling researchers to explore the drug’s therapeutic potential fully. This might result in the creation of cutting-edge cannabis-based therapies and pharmaceuticals that could help people with various illnesses. Rearranging the data could also help with social justice issues, as marijuana-related arrests and convictions have disproportionately harmed persons of colour. Federal limitations could be loosened, which could help lessen the prosecution of cannabis-related offences that are not violent.
Bottom Line
Growing pressure from Congress and advocates for a speedy settlement has been sparked by the Biden administration’s failure to provide an explicit schedule for marijuana’s reclassification. Although there are clear advantages to rescheduling for the cannabis sector and general health, abuse and public safety remain worries. Finding the correct balance between economic growth, social justice, and public health considerations will be crucial in determining the future of marijuana legalisation and regulation in the United States as the government considers its approach to cannabis policy.
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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