NEWS

July News

So Much for Lockdowns Making Us More Health-Conscious 

 

Market researcher Mintel found in a survey of 2,000 adults revealed that more than half of cigarette users were stress smoking more than before the pandemic. Some 10% started smoking again after giving up. Overall, 30% of the smokers surveyed reported lighting up more regularly since the outbreak.  

Electronic cigarette sales also appear to be recovering, according to Nielsen data, and are poised to grow much faster than traditional tobacco products. 
 

Will Biden Slash Nicotine Levels? 

The White House is considering implementing a measure that would force cigarette companies to adjust the levels of nicotine in their products to a non-addictive or minimally addictive level, according to The Wall Street Journal.  

Most cigarettes have 10 to 14 milligrams of nicotine, making them addictive to smokers, who face health risks from cancer-causing byproducts of burning tobacco. Researchers contend cigarettes with 0.4mg of nicotine or less are minimally addictive. 

 

Cannabis Research Gets Level Playing Field 

 

The question for the ages has been answered — 5mg is the standard dose of THC. That’s the word from the National Institute on Drug Abuse (NIDA) where human subject research is concerned. 

NIDA said that inconsistencies in measuring and reporting THC exposure “has been a major limitation in studies of cannabis use, making it difficult to compare findings among studies.” Therefore, a “standardized measure of THC in cannabis products is necessary to advance research by providing greater comparability across studies of both its adverse effects and potential medical uses.” 

 

Canada Proposes New Federal Vape Tax 

 

Several provinces across Canada have in the past year set their own taxes in a bid to discourage teen vaping. Now the government’s plans to introduce a “new taxation framework” to start imposing excise tax on all e-liquids regardless of the level of nicotine they contain. However, the tax would only apply to e-liquids that are either manufactured in Canada or imported to be used locally. 

The tax would be a flat rate of $1 on every 10-milliliter based on the volume of the smallest immediate container holding the liquid, and Cannabis-based vape products would be exempt since they are already subject to excise duties on cannabis. 

“The last federal licensee in the supply chain who packaged the vaping product for final retail sale, including vape shops holding an excise license, as applicable, would be liable to pay the applicable excise duty,” reads the proposal, explaining which entity handles paying the tax. 

 

Dama Financial Introduces Smart Safe Solution  

 

Dama Financial (damafinancial.com), the nation’s largest provider of access to banking and financial services for the cannabis industry, has added Dama Smart Safe to its business toolkit. 

Smart safes allow business owners to monitor their cash at every step of the handling process. With rapid advancements in counterfeit technology, the detection of fake currency with the naked eye has become nearly impossible. Smart safes are equipped with bill validators that significantly decrease the risk of fraud. At the same time, the cash is reconciled automatically, ending the need to spend hours doing it manually. With Dama Smart Safe, the safe can promptly record any deposit as a credit to the customer’s Premier Business account, giving access to the money the next business day. Dama’s other offerings include access to Premier Banking (FDIC-insured accounts), credit, cash management, and merchant services. 

 

US Needs to Prepare for Global Cannabis Market 

 

One in four cannabis related jobs revolves around international trade, and in the opinion of Senate Finance Committee Chairman Ron Wyden, when cannabis is federally legalized, it should also be normalized in global commerce with U.S. trade representatives advocating for domestic cannabis business interests. 

“This is really the dark ages in terms of dragging progressive, successful, innovative cannabis businesses back year after year after year. . . and it also affects the lack access to banking services,” Wyden remarked at an event organized by the National Cannabis Roundtable (NCR) and Leafly.  

 

California Bill Would Allow Veterinarians to Prescribe CBD for Pets 

 

Right now, California veterinarians can talk about CBD-infused oils, capsules and treats for pets, but they cannot make recommendations. That restriction could change under a bill being considered by state lawmakers. 

The new law would require the state Veterinary Medical Board to establish guidelines for veterinarians to recommend the use of cannabis products on an animal patient. It also would amend the 2016 California law legalizing cannabis for adult-use to include products intended for animals, which were not included in the existing law. 

The bill is supported by cannabis advocates, including the California Cannabis Industry Association, California NORML, and the California Veterinary Medical Association. 

 

 

 

 

 

 

 

 

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