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Amidst potential shifts in U.S. cannabis regulation, Lance Boldrey, leader of Cannabis Law Practice at Dykema Gossett PLLC, analyzes the potential impact of reclassifying cannabis to Schedule III under the Controlled Substance Act.
The proposed changes to the rule would "allow the CRA to deny a license or license renewal based on civil judgments (and) court orders resulting from unpaid debt for work, services, products, or equipment provided solely in the cannabis industry."
For many producers, it's more expensive to grow marijuana than it is to buy surplus from competitors for use in their own recipe of edibles and oils.
"All options are on the table," Brian Hanna, executive director of the Cannabis Regulatory Agency, said after a vendor sent the industry into a spin following an error with its licensing software.
Due to lack of payment, upwards of 85 percent of the state's 800 licensees were due to lose access to the METRC (Marijuana Enforcement, Reporting, Tracking and Compliance) system on Wednesday, effectively halting marijuana sales in the state.