DEA May Reschedule Certain Hemp-Derived Cannabinoids, NY Streamlines Licensing Process & More Pot Regulations

International Group Advocates For Common Hemp Language

The Federation of International Hemp Organizations (FIHO) issued a position paper this week, stating that developing a common language for hemp could facilitate its incorporation into global supply chains and spur innovation, reported Hemp Today.

The paper seeks to clarify terminology for policymakers to reduce risks and costs for farmers, particularly in regard to the intersection of hemp and marijuana, which often causes confusion among consumers and consequently dampens demand.

“As both hemp production and regulated markets for other uses of Cannabis are strongly re-emerging in many countries across the world, confusion will only increase without informing and educating political policymakers and professional regulators,” the paper stipulates.

New Hampshire Senate Strikes Down Marijuana Legalization Bill

Senate members nixed a measure to legalize recreational cannabis on Thursday in a 14-10 vote, reported Marijuana Moment.

The news comes on the heels of the Senate Judiciary Committee voting down HB 639 from a bipartisan duo. The measure, which House members earlier approved, would have allowed those over 21 to buy, possess or give away up to four ounces of marijuana.

DEA To Reschedule Certain Hemp-Derived Cannabinoids

Terrance Boos, DEA section chief of the Drug and Chemical Evaluation Section, said last week the agency would soon release a change in the classification of certain hemp-derived cannabinoids.

Michelle Bodian, a partner at cannabis law firm Vicente LLP, said that even though “a copy of the rule or information on the timing of issuance” is not available yet, “the implications are significant and far-reaching.”

The DEA previously attempted to define hemp, but ended up designating any hemp derivative, extract or product exceeding 0.3% THC a Schedule I substance.

NY Regulators Streamline Licensing Process & Consumption Lounge Guidelines 

On Thursday, the Cannabis Control Board (CCB) of the Office of Cannabis Management took action to speed up the licensing process.

Cannabis regulators awarded five additional marijuana licenses to Central New York-based businesses bringing the total number of dispensary licenses in the region to 10, reported Syracuse.

Operators that scored a license include:

  • Loud Pack Exotics LLC.
  • Syracuse Halal Guys INC.
  • Raven Dispensaries LLC.
  • Leafy Wonder LLC.
  • Dank Street LLC.

Members of the CCB have also been working on drafting a regulatory framework for businesses that will serve as venues for the controlled consumption of marijuana, reported Niagara Gazette.

Regulators stressed that permitting adults to consume marijuana in regulated settings near dispensaries will help reduce public smoking in parks and on sidewalks.

Minnesotans Want Legal Weed

Minnesotans seem to be pleased about the upcoming cannabis reform according to a KSTP-TV/SurveyUSA poll that found that 64% of registered voters support marijuana legalization efforts. The bill seeking to legalize recreational use of cannabis statewide is supported by Democrats (81%), independents (63%) as well as Republicans (49%). Still,46% of Republicans are opposed.

“This is a win-win for the DFL,” Steven Schier, Carleton College political analyst, said. “They are probably going to destroy the marijuana party that they believe is taking votes from them … by passing a measure that is very popular with most Minnesotans, which is legalization of recreational cannabis.”

Photo: Courtesy of Ramdlon, ganjaspliffstoreuk by Pixabay

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisGovernmentNewsRegulationsPoliticsMarketsGeneralcannabis regulatory updateCBDDEAHB 639HempJason Osbornemarijuana legalizationMatthew WilhelmMichelle BodianMinnesota cannabisNew Hampshire cannabisNew York CannabisSteven SchierTerrance Boos
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 – Prices will increase very soon!