IRS hosts cannabis & crypto panel (Newsletter: August 19, 2021) – Marijuana Moment

WY marijuana ballot summary issued; CA Assembly advances psychedelics legalization; NC committee amends medical cannabis bill; VA could speed up sales

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/ TOP THINGS TO KNOW

Wyoming’s attorney general issued official summaries for medical cannabis legalization and marijuana decriminalization initiatives that activists want to put on the 2022 ballot.

The Internal Revenue Service hosted a forum on tax issues related to marijuana businesses and cryptocurrency. The presenter highlighted growing support for legalization, saying it “is becoming more and more mainstream.”

The California Assembly advanced a bill to legalize possession of psychedelics on second reading. The measure faces a critical hurdle next week in the body’s Appropriations Committee that will determine whether it can be enacted this year.

The North Carolina Senate Judiciary Committee acted on a revised version of a medical cannabis bill it had previously passed. Another formal vote to advance the measure to the next panel will take place at a subsequent hearing.

Lawmakers on the Virginia legislature’s Joint Commission on Cannabis Oversight discussed launching recreational marijuana sales early through existing medical cannabis dispensaries if those businesses agree to incubate social equity applicants.

/ FEDERAL

The U.S. Department of Agriculture’s Risk Management Agency tweeted, “A pilot hemp insurance program available in select counties through Multi-Peril Crop Insurance provides coverage against loss of yield because of insurable causes of loss for hemp

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