This week’s CBD and cannabis updates from the U.S. and around the globe
By NACS Online // August 19, 2019
Each week, NACS brings you a roundup of news and information on cannabis and CBD to help update you on the fast-moving products and their legality. Here are the topics in the news for the week of August 19–23:
U.S. Federal Activity
- Schumer Asks Federal Regulatory to Clarify Hemp Banking Rules. On August 12, Senate Minority Leader Charles Schumer (D-NY) sent a letter to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) urging them to issue guidance to financial institutions confirming the legality of providing services to the industrial hemp industry. (Source: Senator Schumer)
- ABA Urges Congress to Let States Decide Marijuana Laws. The American Bar Association adopted a resolution on August 12 that asks Congress to pass legislation that would allow states to make their own marijuana laws. (Source: ABA Journal)
State and Local Activity
- Georgia County Suspends Marijuana Enforcement Because of Hemp Law. Officials in Georgia’s Cobb County announced they will suspend enforcement of some misdemeanor marijuana violations citing Georgia’s new hemp law. Cobb County police officials say that it is difficult for law enforcement to distinguish hemp from marijuana. (Source: The Atlantic Journal-Constitution).
- Ohio AG Tells Prosecutors to Hold Marijuana Indictments. Because of the state’s recently passed hemp law, Ohio Attorney General Dave Yost sent prosecutors a letter suggesting they hold off on marijuana crime indictments until the cannabis can be tested. (Source: Cincinnati Enquirer)
- Retailers Are Looking to Locate Marijuana Shops on High-End Michigan Avenue in Chicago. Cannabis businesses are considering pricy retail locations, including Michigan Avenue, known as the Magnificent Mile, to sell recreational marijuana in Illinois. (Source: Chicago Tribune)
- Arizona Group Files Marijuana Legalization Ballot Measure with the State. A group working to legalize recreational marijuana for adults in Arizona filed its initiative with the Secretary of State’s Office on August 9. The group is now trying to get enough signatures to have it placed on the ballot. (Source: Arizona Republic, AZFamily.com)
Miscellaneous
- Gallup Poll Finds 14% of Americans Say They Use CBD. Gallup released a poll on August 7 that indicates one in seven Americans say they use cannabidiol (CBD) products. Twenty percent of adults younger than 30 say they use CBD, but usage and familiarity decrease progressively in older age groups. (Source: Gallup)
- California Music Festival Allows Legal Sale of Cannabis. Outside Lands, a Northern California music festival, became the largest event to allow legal the legal sale and consumption of cannabis. (Source: Los Angeles Times)
NACS has prepared a fact sheet (for members only) to help you navigate what’s legal and what’s not for CBD retailing. Don’t miss the Federal Cannabis Legislation Tracker covering bills that have been introduced in Congress in 2019 pertaining to marijuana legalization that may affect retailers.
NACS has designed two specialized education sessions for this year’s NACS Show in Atlanta to help convenience retailers better understand CBD product offerings: “Cannabis, Marijuana, CBD: The Practical and Legal Outlook” and “CBD, Hemp, Edibles: What Retailers Need to Know About this New Category.” In addition, the Expo will include a new pavilion in Hall C featuring CBD products.
