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* Politics * Science & Health * Culture * Business * Video * Newsletter * Subscribe * Remove Ads * Bill Tracking * About * Login Instructions * All 2024 Cannabis Bills * Bill Hearing Calendar * About Marijuana Moment * Support Marijuana Moment * Subscribe To Newsletter Connect with us * * * MARIJUANA MOMENT DELAWARE LAWMAKERS APPROVE MARIJUANA BANKING BILL THAT AIMS TO PROVIDE STATE-LEVEL PROTECTIONS * Politics * DEA Officials Discuss Marijuana Scheduling Timeline, Seeking To ‘Correct Misperceptions’ That Decisions Are Made In A ‘Shroud Of Secrecy’ * Vermont Senate Passes Psychedelic Working Group Bill To Study How Entheogens Might Benefit Physical And Mental Health * New Hampshire House Panel Rejects Franchise-Based Marijuana Legalization Amendment, Setting Up Showdown With Senate And Governor * Only One Out Of Ten Americans Wants To Keep Marijuana Totally Illegal, Pew Poll Shows * Minnesota Lawmakers Propose Raft Of Changes To State Marijuana Law, Including Homegrow And Equity Adjustments * Science & Health * A Citrusy-Smelling Terpene In Marijuana Can Reduce Anxiety And Paranoia Caused By THC, Federally Funded Study Finds * Study Shows Colorado Marijuana Products Are Overstating THC Potency, With Researcher Citing Possible ‘Lab Fraud’ * CBD Has Potential To Manage Symptoms Of Alcohol Use Disorder, New Scientific Review Finds * USDA Approves Genetically Modified Hemp That Produces No THC Or CBD * Organ Donations From Marijuana Users Pose No Significant Infectious Risks, Study Finds * Culture * Former Minnesota Governor Jesse Ventura Launches His Own Cannabis Brand, Fulfilling A ‘Lifelong Dream’ * Marijuana Rolling Paper Company Seeks Content Creator To ‘Get Paid To Smoke Weed’ For $70,420 Salary * Nevada’s First Marijuana Consumption Lounge Officially Opens, With Top Lawmaker Hitting A Joint At 4:20 * Rapper Killer Mike Suggests Giving Black People Control Over Marijuana Industry As A Form Of Reparations * Brooklyn Nets And New York Liberty Become First NBA And WNBA Teams To Partner With CBD Company * Business * Arizona Marijuana Sales Surpassed $1.4 Billion In 2023, With Bulk Of Transactions Coming From Adult-Use Buyers * Missouri Marijuana Workers Can Count Ballots In Employer-Challenged Union Election, Federal Labor Official Rules * Ready, Set, Recall: What Cannabis Businesses Should Consider When Recalling Products (Op-Ed) * Massachusetts Marijuana Sales Pass $7 Billion Mark As Prices Hit Record Low * U.S. Company Offers Free Psychedelics Training Services To Ukraine Health Professionals To Treat Trauma From War With Russia * Video * DEA Officials Discuss Marijuana Scheduling Timeline, Seeking To ‘Correct Misperceptions’ That Decisions Are Made In A ‘Shroud Of Secrecy’ * New Hampshire House Panel Rejects Franchise-Based Marijuana Legalization Amendment, Setting Up Showdown With Senate And Governor * Former Minnesota Governor Jesse Ventura Launches His Own Cannabis Brand, Fulfilling A ‘Lifelong Dream’ * Virginia Governor Says Anyone Who Thinks He’ll Sign A Marijuana Sales Bill ‘Must Be Smoking Something’ * New Hampshire Panel Hears Testimony On Amendment To Pivot Marijuana Bill To Governor-Backed Franchise Model * Newsletter * Virginia gov won’t sign cannabis sales bill (Newsletter: March 28, 2024) * Hawaii AG’s office describes cannabis plan (Newsletter: March 27, 2024) * GOP’s anti-cannabis report in Congress (Newsletter: March 26, 2024) * Schumer’s cannabis banking petition (Newsletter: March 25, 2024) * VA testifies on cannabis & psychedelics bills (Newsletter: March 22, 2024) * Subscribe * Remove Ads * Bill Tracking * About * Login Instructions * All 2024 Cannabis Bills * Bill Hearing Calendar * About Marijuana Moment * Support Marijuana Moment * Subscribe To Newsletter POLITICS DELAWARE LAWMAKERS APPROVE MARIJUANA BANKING BILL THAT AIMS TO PROVIDE STATE-LEVEL PROTECTIONS Published 24 hours ago on March 27, 2024 By Kyle Jaeger A Delaware legislative panel has approved a bill that would enact state-level protections for banks that provide services to licensed marijuana businesses. The bill, filed by Rep. Ed Osienski (D) and Sen. Trey Paradee (D), has the endorsement of state Treasurer Colleen Davis (D). Its approval on Tuesday by the House Economic Development/Banking/Insurance & Commerce Committee comes amid mounting pressure on Congress to enact federal cannabis banking reform. “This legislation will provide more financial transparency, customer convenience and a much safer environment when retail marijuana traction transactions begin,” Osienski, who also sponsored legislation that legalized marijuana last year, told the committee ahead of the vote. Study finds cannabis increases productivity when working out Study finds cannabis increases productivity when working out Research study suggests cannabis use before physical activity could have positive effects. FOX 5 NY's Kendall Green explains More Videos 0 seconds of 2 minutes, 7 secondsVolume 0% Press shift question mark to access a list of keyboard shortcuts Keyboard ShortcutsEnabledDisabled Play/PauseSPACE Increase Volume↑ Decrease Volume↓ Seek Forward→ Seek Backward← Captions On/Offc Fullscreen/Exit Fullscreenf Mute/Unmutem Decrease Caption Size- Increase Caption Size+ or = Seek %0-9 Next Up Biden administration tackles marijuana reform 01:50 facebook twitter Email pinterest Linkhttps://cdn.jwplayer.com/previews/FRe6nk5z Copied Live 00:00 02:42 02:07 “The way things are operating right now in Delaware increases the costs to legal marijuana businesses, which then those increased costs get passed on to the customers,” he said. “What we’re trying to do here in Delaware is to compete against the illegal market. So this is good legislation to help those in Delaware that are getting into this industry to be able to have banking services that our other businesses have the opportunity to have in Delaware.” The Delaware measure is designed to clarify that banks, credit unions, armored car services and accounting services providers are not subject to state-level prosecution simply for working with cannabis businesses. “This Act aims to facilitate the operation of cannabis-related businesses by helping to ensure that such businesses have access to necessary financial and accounting services,” the bill synopsis says. Davis, the treasurer, said in a press release last week that “H.B. 355 will provide state-level legal protection, and a clear legal framework for banks, payment processors, and other financial service providers to follow.” “It can also ease concerns about federal enforcement and regulatory compliance among these businesses—since it allows them to demonstrate to federal agencies that they’re following a clear legal framework, ultimately leading to a safer and more transparent marijuana industry,” she said. A press release from Davis’s office also says that, in addition to providing the basic protections, the bill would effectively boost the economy, enhance safety and promote competition. The banking bill comes as regulators are rolling out a series of draft regulations to stand up the adult-use cannabis market. The current timeline puts the launch of the market at March 2025, according to Delaware Marijuana Commissioner Robert Coupe. Coupe also weighed in on the banking measure, stating that the “inability to access traditional banking services presents a serious challenge for Delaware’s marijuana businesses.” “Cash-intensive operations leave the businesses vulnerable to theft and other crimes, and present additional obstacles in their efforts to comply with tax laws,” he said. Meanwhile, a Delaware Senate committee approved a House-passed bill last week to significantly expand the state’s medical marijuana program by removing limitations for patient eligibility based on a specific set of qualifying health conditions. Instead, doctors could issue marijuana recommendations for any condition they see fit. The legislation would also allow patients over the age of 65 to self-certify for medical cannabis access without the need for a doctor’s recommendation. — Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments. Learn more about our marijuana bill tracker and become a supporter on Patreon to get access. — ADVERTISEMENT The new financial services legislation, meanwhile, is the latest example of a state proactively seeking to provide marijuana banking protections as federal reform continues to stall. However, congressional leaders have signaled that they intend to prioritize the Secure and Fair Enforcement Regulation (SAFER) Banking Act this year. Senate Majority Leader Chuck Schumer (D-NY) recently asked people to show their support for a marijuana banking bill by signing a petition as he steps up his push for the legislation. Schumer told Marijuana Moment earlier this month that the bill remains a “very high priority” for the Senate, and members are having “very productive” bicameral talks to reach a final agreement. Ongoing federal marijuana prohibition has created a “real problem” for banks amid the growing state legalization movement, Treasury Secretary Janet Yellen recently said, adding that it would be “desirable” for Congress to pass reform legislation to address the issue. > Virginia Governor Says Anyone Who Thinks He’ll Sign A Marijuana Sales Bill > ‘Must Be Smoking Something’ Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge. Related Topics:featured Up Next Germany’s Marijuana Legalization Bill Is Officially Signed Into Law And Will Take Effect On Monday Don't Miss Massachusetts Lawmakers Take Up Psychedelics Legalization Ballot Initiative Kyle Jaeger Kyle Jaeger is Marijuana Moment's Sacramento-based managing editor. His work has also appeared in High Times, VICE and attn. YOU MAY LIKE DEA Officials Discuss Marijuana Scheduling Timeline, Seeking To ‘Correct Misperceptions’ That Decisions Are Made In A ‘Shroud Of Secrecy’ Vermont Senate Passes Psychedelic Working Group Bill To Study How Entheogens Might Benefit Physical And Mental Health Virginia gov won’t sign cannabis sales bill (Newsletter: March 28, 2024) New Hampshire House Panel Rejects Franchise-Based Marijuana Legalization Amendment, Setting Up Showdown With Senate And Governor Former Minnesota Governor Jesse Ventura Launches His Own Cannabis Brand, Fulfilling A ‘Lifelong Dream’ Only One Out Of Ten Americans Wants To Keep Marijuana Totally Illegal, Pew Poll Shows Advertisement MARIJUANA NEWS IN YOUR INBOX Get our daily newsletter. Email address: Leave this field empty if you're human: SUPPORT MARIJUANA MOMENT Become a Patron! * * * * About Marijuana Moment * Subscribe * Sponsorship and Advertising * Privacy Policy All the cannabis news you need, all in one place. 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