'Cease And Desist': NY Regulators Warn Businesses To Stop 'Gifting' Cannabis

The New York State Office of Cannabis Management (OCM) is sending letters to unlicensed businesses suspected of illegally selling cannabis as “gifts” with a purchase.

“The letter informs the businesses that continuing to sell cannabis illegally, including the act of gifting, would risk the opportunity to get a license in the legal market in addition to substantial fines and possible criminal penalties,” reported WGRZ.

In response to reports about gifting, Cannabis Control Board chairwoman Tremaine Wright noted that since October 2021 this “conduct is not legal and must stop. Individuals who do not cease run the risk of severe financial penalties.

“We have an obligation to protect New Yorkers from known risks and to strengthen the foundation of the legal, regulated market we are building,” Wright said.

OCM executive director Chris Alexander stressed the point.

“We want to make sure these operators fully understand the law and the consequences they face and now that these letters have been sent, we fully expect them to cease and desist their activities – if they don’t, we will take action,” Alexander said. “New York State is building a legal, regulated cannabis market that will ensure products are tested and safe for consumers while providing opportunities for those from communities most impacted by the over-criminalization of the cannabis prohibition, and illegal operations undermine our ability to do that. We encourage New Yorkers to not partake in illicit sales where products may not be safe and we will continue to work to ensure that New Yorkers have a pathway to sell legally in the new industry.”

Photo by John Matychuk on Unsplash.

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisESGGovernmentNewsRegulationsPoliticsMarketsGeneralChris AlexanderNew York State Office of Cannabis ManagementTremaine Wright
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...