April was a game-changer for the cannabis industry. After deliberating for almost five months, the Drug Enforcement Administration moved to reschedule cannabis as lawmakers worked to combine the SAFER Banking Act with newly introduced stablecoin legislation. Meanwhile, controversy struck as legal cannabis was seized in New Mexico, Canada’s Federal Budget 2024 was released with no mention of reform to high excise tax rates, and the saga of a once high-end cannabis dispensary finally ended in bankruptcy. Keep reading to discover more about these industry-shaping events. The DEA finally moves to reschedule cannabis Marijuana Moment reported on Tuesday (April 30) that Attorney General Merrick Garland had submitted to the White House Office of Management and Budget a proposal to reschedule cannabis from a Schedule I substance, the same category as heroin and methamphetamines, to a Schedule III one. The Department of Health and Human Services suggested cannabis be reclassified on August…
