Earlier this year, New York joined 18 states, Washington, D.C., and Guam in legalizing recreational cannabis sales through the Marijuana Regulation and Taxation Act. (Source)

On March 31, 2021, Governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act (“MRTA”), legalizing recreational cannabis use in New York state for adults 21 years or older. The move is expected to generate tens of thousands of jobs and hundreds of millions of dollars in revenue for the state. Consumers may purchase and possess up to three ounces of cannabis flower and up to 24 grams of concentrated cannabis, and may securely store up to five pounds of cannabis at their personal residence or grounds.

MRTA tasks The Office of Cannabis Management (“OCM”), governed by a five-person Cannabis…

NFTs are one of the hottest topics in the blockchain industry at the moment, but regulations are having to play catch up with technological innovation.

If you have any tangible connection to the crypto space, by now you have definitely heard of NFTs. What’s incredible is that even if you have no connection to the crypto space, there is still a good chance that you’ve heard about NFTs.

This is remarkable because as little as a few months ago, many crypto natives barely knew what an NFT was and if they did, they probably only thought of CryptoKitties. Over the last two months or so, this space has exploded and quite frankly it is just getting started. …

An idea long entertained by the crypto community, DAOs aim to create inclusive, fully formed businesses without hierarchical management.

This article is a law and regulatory focused missive on Distributed Autonomous Organizations (“DAO” or “DAOs”). I want to be clear that we are big fans of these structures and believe that they will have a major impact on our society because they can fundamentally alter how businesses are formed and run.

That said, there are certainly a lot of risks and pitfalls associated with DAOs as they are currently conceptualized and utilized. This article identifies some of these issues and offers a little insight into how they might be dealt with. Accordingly, this article may seem bearish on DAOs…

Once again, half of Congress seems to be on board with allowing the federal government to legally recognize cannabis.

On Friday, December 4, the U.S. House of Representatives approved yet another landmark piece of cannabis legislation, H.R.3884, or the MORE Act of 2019 (“MORE Act”), which aims to decriminalize cannabis at the federal level.

Passed in a 228–164 predominately party-line vote, the MORE Act would decriminalize cannabis by removing the plant from the Controlled Substances Act (“CSA”). By taking cannabis off of the CSA, a broad range of federal services and privileges — previously denied to the industry on the grounds of their involvement with a federally illicit substance — would become available.

The bill now awaits a decision…

Although we are all more than familiar with the Covid-19 pandemic, Colorado businesses may not be aware of new employee sick leave laws, presently in effect, relating to the pandemic.

Pursuant to the Healthy Families and Workplaces Act (“HFWA”), which was signed into law on July 14, 2020, virtually all private employers in Colorado, of any size, must provide paid sick leave to employees for Covid-19-related absences in accordance with the provisions of the federal Families First Coronavirus Response Act (“FFCRA”). …

In late October, the New York State Department of Health (“DOH”) announced the release of the state’s long-awaited cannabidiol (“CBD”) guidelines. Reversing the state’s ban from last year on the sale of hemp-derived CBD-infused consumables, the new regulations aim to implement both quality control standards and a licensing program for CBD businesses.

Spanning sixty-three pages, the new guidelines are intended to provide more standardized testing and labeling methods to ensure consumer safety. Food and beverage products cannot contain more than 25mg of cannabinoid per product, while dietary supplements may contain up to 3,000mg per product. …

On August 26, the U.S. Securities and Exchange Commission (“SEC”) announced several changes to the “accredited investor” definition, adding new categories of the eligible individual and corporate candidates for private capital markets. Passed in a 3–2 Commission vote, the agency press release describes the decision to expand investment opportunities as an ongoing attempt to simplify, balance, and further develop the existing exempt offering framework.

Accredited investors are unique in that, under SEC guidelines, they may participate in unregistered offerings for investments in start-ups, private placements, private equity funds, and venture capital funds (collectively the “Private Markets”), whereas non-accredited investors (most…

Under Massachusetts law, both medical and recreational marijuana are legal. The state is currently rolling out its recreational delivery program, as well as its social consumption establishment program. The state regulatory body, the Cannabis Control Commission (“ CCC”), has published a comprehensive guidance on its website regarding all aspects of licensure, renewals, application processes, and more.

License Types

Medical Marijuana Treatment Center (“MTC”)

An MTC acquires, cultivates, possesses, processes, transports, sells, distributes, delivers, dispenses, or administers marijuana, products containing cannabis or marijuana, related supplies, or educational materials to registered qualifying patients or their personal caregivers for medical use. MTCs may deliver marijuana…

In the 2020 election, Oregon voters demonstrated an overwhelming appetite for drug policy reform. Election results show landslide victories for two groundbreaking measures — one decriminalizing all drugs, and one legalizing psilocybin-assisted clinical sessions. Both measures came to the ballot as citizens’ initiatives, thereby bypassing the state legislature. Both measures also received substantial backing from national drug policy reformers, including the Drug Policy Alliance and Dr. Bronner’s Soaps. Although both measures create profound changes to Oregon law, neither has any effect outside of Oregon or on the federal Controlled Substances Act, which can still be enforced in Oregon.

Measure 110

Among the country’s first states to enact marijuana-friendly legislation, Colorado legalized medical marijuana via the passage of Amendment 20 in 2000 and subsequently legalized recreational (retail) marijuana via the passage of Amendment 64 in 2012.

Due to its robust implementation of these amendments, Colorado has been at the center of the burgeoning national marijuana industry. Since 2014, the state has amassed $1.21 billion in tax revenue generated from marijuana, with the marijuana industry totaling $7.79 billion in sales between 2014 and 2019.¹

Although to an outsider it may seem that all of Colorado is engrossed in marijuana, local jurisdictions have…

The Rodman Law Group

The Rodman Law Group specializes in business, cannabis, cryptocurrency and blockchain technologies, securities, and intellectual property law.

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