Dan writes on Linked In
FEDERAL CANNABIS UPDATE – THE EXECUTIVE ORDER
Most of today’s headlines are wrong.
Today’s executive order does not reschedule cannabis to CSA Schedule III. It also does not itself change federal law, legalize cannabis, immediately enact tax or market reforms, or automatically reverse recent federal bans or limits on intoxicating hemp products.
But it does constitute a colossal federal shift toward recognizing the benefits of medical cannabis use, expanding research, and unlocking significant tax relief related to 280E via eventual rescheduling to Schedule III (which the Attorney General is to complete “in the most expeditious manner in accordance with Federal law”), and instructs the administration to work with Congress to update statutory definitions and regulatory frameworks for hemp-derived cannabinoid products.
A monumental day in American cannabis.
Questions? Contact the Scarinci Hollenbeck Cannabis Group.
https://lnkd.in/ezqDTBdY
And as always… Stay tuned.
