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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 3.60 to 179.09, while the CSE Composite Index added 10.60 to 728.10. E-commerce giant Amazon is wading further into the campaign for U.S. cannabis reform. The tech major previously announced last month that it would start "actively supporting ... federal legislation that would legalize marijuana." Today, as first reported on the Cannabis Wire website, Amazon officially registered as a federal lobbyist. Its long list of lobbying issues includes wages, technology, immigration, intellectual property and -- crucially to cannabis activists -- "marijuana reform, including the MORE Act."

The MORE Act, which stands for the Marijuana Opportunity Reinvestment and Expungement Act, would remove criminal penalties for cannabis, expunge prior cannabis convictions and direct money toward historically disadvantaged communities. The bill has been kicking about Congress for two years, but has never received full approval. More recently, attention has shifted to the Cannabis Administration and Opportunity Act (CAOA), unveiled in draft form this month by Senate Majority Leader Chuck Schumer. The CAOA is more comprehensive than the MORE Act, as the MORE Act does not address issues such as banking. Then there is the Secure and Fair Enforcement or SAFE Act, which primarily addresses banking and would not even decriminalize cannabis. Each bill has its supporters and detractors, and the likelihood of each one's passage remains the subject of endless chatter.

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