Cannabis companies battle it out in Henrico court over rights to open dispensary in Southwest Va.

An attorney representing New Age, told the judge the pharmacy board held an “illegal” closed-door meeting that…

Posted by Cannabis Business Association of Virginia on Saturday, June 8, 2019
An attorney representing New Age, told the judge the pharmacy board held an “illegal” closed-door meeting that “concealed the real reason why Dharma was chosen over New Age.” Instead of giving the potentially lucrative license to the top scorer in the Southwest Virginia health region, he argued, the board inexplicably gave it to a company that “barely cracked the top five.”

Federal Reserve Nominee Promises to Tell Banks that Hemp is Legal

Federal Reserve Governor nominee Michelle Bowman today pledged to clarify to U.S. banks that hemp is now a legal product, amid confusion about whether banks can do business with the industry.

The 2018 Farm Bill legalized hemp production and the sale of hemp products . But farmers and business owners from hemp-growing states are warning that financial services firms remain skittish about transactions tied to the crop.

Sen. Jon Tester (D-Mont.) urged Bowman to take action on the issue at a Senate Banking Committee hearing today. Bowman told Tester that “we’ll try to clarify that hemp is not an illegal crop.”

“We would not discourage banks from banking these types of customers,” she said.

Separately, Tester last month wrote to the head of the Treasury Department’s Financial Crimes Enforcement Network and pressed him to update the agency’s hemp policies.

“Let’s be proactive about it,” Tester said today. “We decriminalized it in the farm bill. This ain’t pot.” To view Bowmans comments, click here and go to 1:07 in the video.

Cannabis group seeks to influence Virginia hemp, marijuana regulations

Virginia could have millions of patients qualify for CBD and THC-A treatments, but its highly regulated medical cannabis…

Posted by Cannabis Business Association of Virginia on Tuesday, May 21, 2019

Virginia could have millions of patients qualify for CBD and THC-A treatments, but its highly regulated medical cannabis market was only designed to serve 25,000. CannaBizVA wants to cut the red tape, prioritize patient access, and allow small businesses to prosper.