MJBizMag August 2022 - 18

INDUSTRY DEVELOPMENTS National & International
U.S. News
FDA Bans Juul E-cigarettes,
MJ Vape Impact Possible
The U.S. Food and Drug
Administration ordered popular
e-cigarette maker Juul's products
off the market, a move that could
impact the marijuana vape industry
going forward.
The FDA ordered Juul to stop
selling and distributing mentholand
tobacco-flavored vapes as part
of ongoing efforts to crack down on
youth vaping.
Juul Labs spun off Pax Labs, a
popular marijuana vape maker,
in 2017. Pax declined to comment
about the FDA order.
The federal illegality of
marijuana likely will keep
the industry safe from FDA
interference for the time being, but
" this doesn't mean that will be the
case forever, " said Arnaud Dumas
de Rauly, CEO and co-founder
of The Blinc Group, a vape
manufacturer based in New York.
Switzerland to Launch
Regulated Medical Market
Switzerland's seven-member Federal
Council presented its Parliament
with an amendment to the country's
Narcotics Act that would remove the
ban on medical cannabis, effectively
opening the door to a wider medical
marijuana market.
Additionally, a special permit
from the Federal Office of Public
Health will no longer be required,
and MMJ patients will be able to
get a normal prescription from
their doctor.
The government said demand
for such permits has been
increasing, adding an unnecessary
administrative burden and
ultimately delaying treatment.
National ordinance adaptations
will be necessary to implement
18 August 2022 | MJBizMagazine
the change, which the government
anticipates will take effect Aug. 1.
Authority to regulate the
cultivation of cannabis for medical
purposes will fall on the Swiss
Agency for Therapeutic Products, or
Swissmedic.
Lawmakers Ax SAFE Banking;
Similar Measure Introduced
The SAFE Banking Act has hit
another wall.
According to U.S. Rep.
Ed Perlmutter of Colorado,
co-sponsor of the legislation, a
committee tasked with reconciling
differences between House and
Senate stimulus bills dropped
SAFE Banking, which had been
included by the House but not
the Senate.
" The Senate continues to ignore
the public safety risk of forcing
cannabis businesses to deal in all
cash, " said Perlmutter, who filed to
have the legislation added as an
amendment to the national defense
budget bill for fiscal year 2023.
In a separate development, a
bipartisan bill with similar aims
as the SAFE Banking Act was
filed by U.S. Reps. Troy Carter of
Louisiana and Guy Reschenthaler of
Pennsylvania.
The two legislators introduced
the Capital Lending and Investment
for Marijuana Businesses (CLIMB)
Act of 2022.
The CLIMB Act would:
* Guarantee that financial
institutions working with
marijuana companies would
be protected from federal
regulators.
* Bolster business lending
to state-legal marijuana
companies.
* Protect federal agencies
such as the Small Business
Administration so they could
issue grants and loans to
cannabis companies.
The CLIMB Act already has
garnered endorsements from
several cannabis industry
associations.
MJBizMag

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