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The Cannabis Industry is Booming on New York’s Tribal Lands, Lawmakers Want to See an End to International Ban on Marijuana, WA State Treasurer Pushes for Cannabis Banking Reform After Increase in Retail Marijuana Store Robberies

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The Cannabis Industry is Booming on New York’s Tribal Lands

Retail cannabis sales are expected to start in New York before the end of this year. But, many tribal lands have already opened fully functioning dispensaries. Because the reservations are sovereign lands, state officials said that it is legal for tribes in New York to begin cannabis sales before regulations are in place for the rest of the state. Tribal governments are creating and implementing their own policies for retail cannabis and are financially benefiting from the jumpstart on sales. In the last several months, over 20 retail locations have emerged on the Seneca Nation of Indians’ reservation. For many individuals living in the western part of the state, these dispensaries are the closest place to legally purchase marijuana – and they are willing to make the drive to do so.  

Lawmakers Want to See an End to International Ban on Marijuana

A pair of bipartisan lawmakers introduced a measure last week asking President Biden to utilize his influence to get the United Nations to remove marijuana from the list of controlled substances in a global drug treaty. Representatives Nancy Mace and Barbara Lee filed the legislation as the UN’s Commission on Narcotic Drugs finished its meeting for the 65th session. The resolution also asks that Biden push the UN to expunge prior cannabis convictions and “treat cannabis as a commodity similar to other agricultural commodities.” In a press release regarding the measure, Rep. Mace said that many other countries would deschedule marijuana if the UN did so. She went on to say, “Descheduling at the UN would support global research into how cannabis can treat a wide range of ailments and conditions.”

WA State Treasurer Pushes for Cannabis Banking Reform After Increase in Retail Marijuana Store Robberies

Washington state has recently seen an increase in violent robberies targeting cash-only retail marijuana stores. To try to help cannabis retailers in his state combat this issue, State Treasurer Mike Pellicciotti traveled to Washington, DC to meet with the state’s congressional delegation and push the passage of the Secure and Fair Enforcement (SAFE) Banking Act. The SAFE Banking Act would permit financial institutions to do business with the cannabis industry without fear of federal repercussions. Cannabis businesses have long been a target for criminals due to the cash-only nature of the industry, and Pellicciotti feels it is time for a change. The SAFE Banking Act has passed the House multiple times but has not yet successfully advanced in the Senate.