Marijuana Rescheduling Is Not Solution To Industry's Banking Issues, Congressional Researchers Say And More Cannabis Regs

Rhode Island Regulators Could Ease Weed Packaging Rules

Cannabis regulators in Rhode Island are seeking to amend marijuana product packaging rules to make them less strict.

An 18-member Cannabis Advisory Board recommended the state Cannabis Control Commission last month should allow cannabis brands to use more colors on packaging instead of simple plain colors like white, black, gray and navy blue, which are currently allowed, reported Rhode Island Current.

"We're trying to give the people the ability to brand the product, which gives them the ability to differentiate themselves in the market," said Stuart Procter, co-founder and lab director for cannabis testing facility PureVita Labs in West Warwick and an advisory board member. 

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Cannabis Rescheduling Is Not A Solution To Banking Issue, Congressional Researchers Say

A new report from the Congressional Research Service suggests the Biden administration’s proposal to reschedule marijuana from Schedule I to Schedule III is not a solution to the banking challenges faced by the U.S. cannabis industry, reported Green Market Report's John Schroyer.

Read Also: Congressman Blumenauer Slams DEA For Postponing Marijuana Rescheduling, Places Hope In ‘Soon-To-Be President Harris’

The report, issued Monday, points out that federal regulators still have significant authority to penalize banks working with state-legal marijuana businesses, suggesting policy change proposed by the U.S. Department of Justice alone will not significantly reduce the risks for financial institutions.

"DOJ's proposed rescheduling of marijuana, in and of itself, is not likely to alter substantially the risk profile associated with providing financial services to the state-sanctioned marijuana business," notes the report.

New Jersey Cannabis Regulators Seek Input On MMJ Issues

The New Jersey Cannabis Regulatory Commission (NJ-CRC) will hold virtual private roundtables to gather input from patients, healthcare providers and cannabis business operators on the state's medical marijuana (MMJ) market, reported Heady NJ.

Sessions, scheduled for September and October, are organized by the Commission's Public Engagement and Education Committee (PEEC), the Product Safety Packaging and Labeling Committee (PSPLC) and Permitting and Licensing Committee (P&LC).

Their goal is to address the declining number of medical cannabis patients, which has dropped from a peak of 130,000 to 75,414.

Commissioner Krista Nash highlighted the importance of these discussions. "We want to offer an opportunity for healthcare providers, active patients, federally and non-federally qualified health centers, and operational businesses to express their opinions and share valuable feedback on critical issues related to cannabis regulation and the cannabis industry in New Jersey," she said.

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• $75 For An Eighth Of An Ounce? Why Are New Jersey Cannabis Prices Still So High?