While I certainly agree that Session's is against
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Posted On: 10/11/2018 1:50:23 PM
While I certainly agree that Session's is against cannabis, I also believe that his attitude has forced Congress and the Administration to act, something they may not have done had he simply gone along with a States right to determine their own cannabis policy.
To me the biggest thing the Govt. could do for the industry would be to make it clear that they'll permit banks to work with cannabis businesses that are legal in the State that they're operating in. While I think they should reclassify it, they would actually play into our hands if they said that products containing THC required FDA approval to be Federally legal, though they wouldn't prevent States from selling them, while CBD is considered safe. I frankly believe that as greater experimentation is permitted it will be other components in cannabis that will lead to major breakthroughs, not just CBD and THC.
Gary
To me the biggest thing the Govt. could do for the industry would be to make it clear that they'll permit banks to work with cannabis businesses that are legal in the State that they're operating in. While I think they should reclassify it, they would actually play into our hands if they said that products containing THC required FDA approval to be Federally legal, though they wouldn't prevent States from selling them, while CBD is considered safe. I frankly believe that as greater experimentation is permitted it will be other components in cannabis that will lead to major breakthroughs, not just CBD and THC.
Gary
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