Biden Signs Medical Marijuana Research Bill

Scientists are using marijuana oil to conduct research. There is a study looking at the effects of cannabidiol oil on the body.

The Medical Marijuana Research Bill was turned into law by President Biden.

The White House announced on Friday that President Biden signed the Medical Marijuana and Cannabidiol Research Expansion Act, which establishes a new registration process for conducting research on marijuana and for manufacturing marijuana products for research purposes.

The bill was unanimously approved by the Senate in November after it was unanimously approved by the House. The Cannabis Caucus co-chairs, Barbara Lee, Dave Joyce, and Brian Mast, released a joint press statement stressing the importance of such achievement.

The federal government has stood in the way of science and progress for decades. Our federal cannabis laws are being fixed today. The Medical Marijuana and Cannabidiol Research Expansion Act will make it easier to study the effects of cannabis.

The Representatives pledged to work on ending the war on drugs through a series of upcoming proposals that will change the status of marijuana at the federal level.

The law makes it easier for scientists to study marijuana for medical reasons as they don't have to follow strict regulations.

The new legislation removes federal restrictions in order to make it easier to conduct research on the plant.

The new law requires the federal government to make sure there is an adequate supply of marijuana for scientists to use.

Researchers will be able to learn more about the plant's medical properties and request a lot of marijuana for research.

Within 60 days of receiving a researcher's application, the U.S. Attorney General has to approve it, request more information, or deny it. The Attorney General has 30 days to make a decision.

Drug Enforcement Administration license to grow, manufacture, distribute, and possess marijuana for research purposes, with guidance from the Department of Health and Human Services and the U.S. Food and Drug Administration

If the quantity and form of marijuana, the source, and the storage conditions of the material don't change, scientists can update their protocol without telling the Drug Enforcement Administration.

The legislation encourages the FDA to develop marijuana-derived medicines and addresses the HHS to determine the medical benefits of marijuana or cannabidiol.

The Medical Marijuana and Cannabidiol Research Expansion Act intervenes in the doctor-patient relationship by allowing physicians to discuss the currently known harms and benefits of marijuana cannabinoids, such as CBD, as a treatment or the known possible damages and benefits of marijuana and its compounds.

Marijuana will remain illegal at the federal level.

The legislation doesn't allow scientists to get marijuana from a state-run dispensary and won't change marijuana's federal classification.

Medical research on marijuana in the U.S. is a step forward thanks to the legislation. Scientists in the U.S. had to get approval from multiple agencies to do research on marijuana, which can take years.

The University of Mississippi was the only place where scientists could use marijuana.

The Medical Marijuana and Cannabidiol Research Expansion Act was signed by Biden, following an executive order in October pardoning about 6,500 people who had been convicted for marijuana possession.

He asked the Secretary of the HHS and the Attorney General to start the review of how marijuana is scheduled under federal law.

Senate Democrats to reportedly push banking reforms for cannabis industry

Justice Department is scrutinizing measures’ implications on law enforcement investigations and marijuana  prosecutions

Democrats in the Senate will push to liberalize banking access to the cannabis industry during the lame duck session, it was reported on Saturday, in moves being watched closely by the Department of Justice which is concerned that reforms could ‘complicate’ the industry’s legal status.

A justice department memo, obtained earlier this week by Punchbowl News, outlines how the implementation of a bill to reform the banking rules for cannabis companies “could significantly complicate law enforcement investigations and prosecutions”, though it also notes that the department believes that subject to minor changes “it can effectively implement the legislation”.

The legislation, titled the Secure and Fair Enforcement Banking Act, would provide a “safe harbor” for regulated banks to work with cannabis firms in states where it’s legal. While that would not legalize cannabis at a federal level, it would release the industry from a key limitation to its growth.

The passage of the bill through the Senate has become a priority for Senate majority leader Chuck Schumer ahead of the new session in January, Axios reported on Saturday.

In July, the New York democratic senator, along with Senators Cory Booker of New Jersey and Oregon’s Ron Wyden introduced the Cannabis Administration and Opportunity Act that would decriminalize cannabis at the federal level.

The bill’s sponsors argued that the cannabis industry, which employs nearly 430,000 workers and generated over $25bn in sales last year, “presents a significant opportunity for entrepreneurship and economic empowerment”. By 2025, the bill said, “it is estimated that the cannabis industry could exceed $45bn in annual sales”.

It said that nearly all Americans live in a state with some form of legal cannabis, including 19 states that have legalized adult-use cannabis – reaching over 40% of Americans – and that 91% of adult Americans believe that cannabis should be legal for either adult or medical use.

“The ‘war on drugs’ has failed, and it’s time for lawmakers in Washington to respect the rights of states that have chosen to legalize cannabis,” they argued. Despite bi-partisan support, the bill stalled.

Legalization of the industry’s access to the banking system is an incremental work-around to federal prohibition, which came into effect across the US a century ago.

Most of the changes suggested by the justice department revolve around language relating to “cannabis-related legitimate businesses” that it said “could create an immunity shield around activities of cannabis businesses that involve other illicit drugs or activities”.

Other potential complications in the wording could complicate the enforcement of anti- money laundering efforts, the DoJ said.

The Department of Justice sent a memo to the congressional lawmakers about a marijuana banking bill that’s expected to be taken up imminently, saying the legislation as drafted could “significantly complicate law enforcement investigations and prosecutions” of crimes involving other drugs or money laundering.

However, the agency did suggest that the Secure and Fair Enforcement (SAFE) Banking Act is fixable from its perspective and offered guidance on how to resolve various issues. And Senate sources told Marijuana Moment on Friday that since receiving the memo earlier this year, lawmakers have effectively addressed DOJ’s concerns as a product of bipartisan negotiations over a forthcoming cannabis reform package.

The memo, first noted by Punchbowl News, is reportedly the result of a request from Republican senators for DOJ to analyze the bill.

“Because marijuana would remain illegal under federal law, Congress should ensure efforts to provide access to financial services for state-legal businesses does not unintentionally erect obstacles to prosecution of other illicit activity or activities involving money laundering of proceeds of other illegal drugs or sales of marijuana that do not comply with state requirements,” DOJ wrote.

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