Close Menu
  • Home
  • News
  • Lifestyle
  • Law
  • Business
  • Education

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Facebook X (Twitter) Instagram
Monday, June 2
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram LinkedIn VKontakte
Smoke Professional
  • Home
  • News

    More Than 1,000 Arrested in Sweep of U.K. Weed Grows

    July 8, 2023

    Scotland Calls On UK To End ‘Failed’ Drug War With Decriminalization And Harm Reduction Approach

    July 8, 2023

    Germany’s draft law for first phase of cannabis reform

    July 8, 2023

    High Times Cannabis Cup Illinois: People’s Choice Edition 2023 Kicks Off

    July 8, 2023

    Pennsylvania Committee Advances Expansion to State Medical Cannabis Program

    July 7, 2023
  • Lifestyle

    How Watching the News Can Trigger Anxiety and Panic Attacks

    October 28, 2024

    Record High Cannabis and Hallucinogen Use Among Adults

    October 27, 2024

    Weekend Sleep Catch-Up May Lower Heart Disease Risk by 20%

    October 27, 2024

    Energy Drinks Linked to Poor Sleep Quality and Insomnia

    October 26, 2024

    First Psychedelic Church for Magic Mushrooms

    October 26, 2024
  • Law

    Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

    May 30, 2025

    Federal Lawmakers Call for Medicaid Fraud Investigation Into Florida Anti-Cannabis Political Group

    May 26, 2025

    Minnesota Ends Criminal Penalties for Bong Water

    May 23, 2025

    Minnesota Bill to Set Up Adult-Use Cannabis Industry Moves to Governor

    May 22, 2025

    Pennsylvania House Passes Cannabis Legalization Bill

    May 8, 2025
  • Business

    U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

    May 29, 2025

    Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

    May 28, 2025

    Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

    May 28, 2025

    Washington to Issue New Social Equity Cannabis Licenses This Summer

    May 27, 2025

    DEA Raid Confiscates Over 29,000 Cannabis Plants in New York

    May 26, 2025
  • Education

    CBD and the Aging Population—What Science Says Today

    March 12, 2025

    Wholesale Nootropic Skincare: Boost Your Product Line

    March 10, 2025

    Ideal for Your Business Needs

    March 8, 2025

    A Must-have For Every Smoke Shop

    March 3, 2025

    The Perfect Addition to Your Product Line

    March 1, 2025
Smoke Professional
You are at:Home»News»Marijuana Lobbying Firm Apologies For ‘Misguided’ Letter Referencing ‘Chinese-Backed Investors’ In Push For Banking Bill Amendments
News

Marijuana Lobbying Firm Apologies For ‘Misguided’ Letter Referencing ‘Chinese-Backed Investors’ In Push For Banking Bill Amendments

adminBy adminMay 26, 2023No Comments7 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

A major marijuana lobbying firm has apologized after sending a letter to Senate committee leadership concerning a bipartisan cannabis banking bill that contained “inappropriate” references to investments from China in a “misguided attempt” to push for amendments expanding the legislation.

The original letter that was sent to Senate Banking Committee leaders last week took some by surprise—in part because it advocated for a significant revision to free up all financial services to the cannabis industry, including representation on major U.S. stock exchanges. But controversy also swelled around its argument that the expanded reform is necessary in order to compete against an illicit market funded by “Chinese-backed investors.”

The language was read by some as racially inflammatory, playing into xenophobic concerns over China and Chinese people in a way that risked alienating Asian advocates in the community.

Now The Liaison Group (TLG), which led the letter on behalf of SAFE Banking for Equity, is walking it back and apologizing to the various organizations that were listed as signatories but which did not receive an opportunity to review the draft before it was sent.

“The Liaison Group acknowledges that language referencing ‘Chinese-backed investments’ was a misguided attempt and poor judgment,” the statement says. “The reference was inappropriate and should not have been utilized. We wrongfully characterized and inappropriately singled out one element of the unregulated market by doing so.”

“TLG sincerely apologizes for the harm caused by this language and letter and is committed to doing better. Words matter, and it was never our intention to further harmful racist and xenophobic sentiments,” it says. “The SAFE4Equity affiliate organizations work to build and represent a more diverse and equitable industry and do not support the reference made in this letter. As the authors of this letter, we take full responsibility for our inappropriate actions and any harm they have caused.”

(Disclosure: TLG staffers support Marijuana Moment’s work through monthly pledges on Patreon.)

After the original letter was released, the Asian Cannabis Roundtable (ACR) released a statement imploring the authors to “retract inflammatory references and implied sentiments that equate ‘Chinese-backed’ investments to illegal activity.”

“Such statements are harmful as they perpetuate xenophobia and dehumanize the [Asian American, Native Hawaiian and Pacific Islander] population,” it says, adding that it encourages TLG and the affiliated National Cannabis Roundtable (NCR) to “make a meaningful donation to an organization working to support marginalized Asian communities.”

TLG said that “SAFE4Equity affiliates will be submitting a revised letter for the record that clearly represents their position,” though it did not mention whether it would be taking the additional step of making the donation as recommended.

Kristin Jordan, founder and president of the board of ACR, told Marijuana Moment in a phone interview on Thursday that her hope is that responsible parties will take steps to educate themselves about “how to speak about issues like this that are sensitive to affinity groups like ours.”

But while the situation took time away from other work over recent days, Jordan said that she’s walked away from it with takeaways that underscored “that the advocacy community is strong.”

She and other leaders in the space “picked up the phone, because we know all these advocacy leaders—and folks were quick to respond, quick to recognize the issue and to identify their own culpability.”

“So I’ve been really excited and pleased to see the recognition that this is a harmful statement, that it has repercussions,” Jordan said. “We are in a month where we’re supposed to be celebrating Asian heritage, and this is a real blight on the advocacy that they are trying to do.”

“Our advocacy community—while there may be attempts to splinter us or maybe divide us in some way over policy issues—I think that the strength of our relationships, that the mutual respect that we have for one another, really trumps all of this,” she added.

The problematic language included in the letter to the committee last week seemed to echo rhetoric that’s become fairly common in Congress, where China-adjacent associations have been viewed with suspicion. Adding fuel to that fire in the marijuana space is recent reporting that’s linked investors from China to illegal cannabis cultivation domestically.

“The troubling thing is that when I talk to political insiders in D.C., they told me that this is D.C. parlance,” Jordan said. “This is not necessarily seen as inflammatory rhetoric.”

Advocates feel that quickly responding to this type of community concern is especially important in the marijuana space, given the movement’s focus on repairing the harms of racially disparate enforcement throughout the history of cannabis criminalization.

Ophelia Chong, founder of Asian Americans for Cannabis Education, wrote in a LinkedIn post on Wednesday that “TLG acted swiftly to correct this stumble and with grace.”

“I am grateful for the support our diverse communities in Cannabis,” she said. “We’ve all made stumbles and then turned them around to be a learning lesson.”

—
Marijuana Moment is tracking more than 1,000 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—

While the pushback over the racially charged language in the letter led to the apology and reversal, the underlying ask from the coalition also rubbed some the wrong way, as it called for amendments to the SAFE Banking Act that go well beyond its current scope in a way that certain advocates feel would principally benefit large cannabis corporations without effectively addressing the harms of the drug war.

It’s one of the latest examples of how the debate over the banking legislation has evolved in the current Congress.

A marijuana financial services company separately revised its testimony on the legislation following pushback over remarks made at a Senate Banking Committee hearing this month where a compliance officer suggested a “pause” to further amend the legislation.

The next step for the SAFE Banking Act is to receive a committee markup, which Senate Majority Leader Chuck Schumer (D-NY) said he hopes will happen “in the near future.”

The plan is to pass the clean standalone bill out of committee—and then to offer amendments on the floor. Schumer and colleagues have emphasized that the legislation should be revised to include “criminal justice” provisions such as record expungements for people with prior marijuana convictions.

It’s also possible that the bill will be amended to account for concerns flagged by a Democratic senator, key federal officials and consumer advocacy groups, who said recently that a specific provision of the bill could inadvertently limit the ability of regulators to take action against people exploiting banking services.

Sen. Jacky Rosen (D-NV) also recently said that she wanted the SAFE Banking Act to pass with an amendment allowing cannabis businesses to access federal Small Business Administration (SBA) services.

Last month, Schumer said that he was “disappointed” that a so-called SAFE Plus package of cannabis reform legislation didn’t advance last year, saying “we came close,” but “we ran into opposition in the last minute.” He said lawmakers will continue to “work in a bipartisan way” to get the job done.

The majority leader has been holding meetings with Democratic and Republican members in the early months of the new Congress to discuss cannabis reform proposals that might have bipartisan buy-in this year.

Sen. Cory Booker (D-NJ) said recently that lawmakers are working to “resurrect” the cannabis reform package, acknowledging that failure to advance a banking fix for the industry “literally means that hundreds of businesses go out of business.

Rep. Earl Blumenauer (D-OR), who is a lead sponsor of the House version of the SAFE Banking Act, said at a recent press briefing that thinks it’s important that advocates and lawmakers align on any incremental proposals to end the drug war, warning against an “all-or-nothing” mentality.

The American Bankers Association (ABA) also recently renewed its call for the passage of the legislation. And all 50 of its state chapters did the same, as did insurance and union organizations, in recent letters to congressional leadership.

Photo courtesy of Philip Steffan.



Source link

Amendments Apologies Banking Bill ChineseBacked firm Investors Letter Lobbying Marijuana Misguided Push Referencing
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleDIY: How to Make Your Own CBN
Next Article Big Tobacco’s War on Cannabis Ignites: Are Pre-Rolls and Cones Under Attack?
admin
  • Website

Related Posts

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Nebraska Lawmakers Again Reject Medical Cannabis Implementation Bill

May 22, 2025

Minnesota Bill to Set Up Adult-Use Cannabis Industry Moves to Governor

May 22, 2025

Comments are closed.

Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Law

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

By adminMay 30, 20250

Republican lawmakers in Ohio are seeking to make changes to the 2023 cannabis legalization law approved…

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Subscribe to Updates

Get the latest creative news from Smoke Unlimited about Weed & CBD vaping.

From Our Partners
About Us
About Us

Get all the current news stories, latest trends and legislation regarding cannabidiol, products, usages and its benefits. So don’t miss out any buzz and stay tuned! We offer a minute to minute updates regarding Marijuana industry.

Facebook X (Twitter) Instagram Pinterest
Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Sponsors
Copyright © 2025. SmokeProfessional
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.