Donald Trump says he is likely to support ending the federal cannabis ban.
The US president has said he will likely support a new bill that would allow all US states to allow legalization in their territory. Nine US states have already approved the opening of the cannabis market. However, federal law still provides for a total ban.
United States President Donald Trump announced on Friday that he thinks support a new bill which would put an end to the prohibition of cannabis. This ban dates back to about 90 years ago with a succession of laws banning cannabis.
A project supported on both the Democratic and Republican side
The new bill, promoted by both parties, will allow each state to regulate the cannabis market in its entirety. Thus it will facilitate the creation of factories, stores but also self-cultivation, without fear of DEA.
Trump made this statement while boarding the plane to the G7 summit. He is thus opposed to his Minister of Justice, Jeff Sessions, a supporter of a hard line.
The bill must be debated in the Senate. Asked about it, Trump replied that he supported the position of Senator Currie Gardner of Colorado, one of the initiators of the new law.
“I know exactly what he's doing,” Trump said, “but I'll probably support him, yeah. "
Gardner said the president has agreed to personally support the law. But this is the first time Trump has said so himself.
Federal legalization opens the banking sector to cannabis
Since 2012, 9 states have approved the legalization of cannabis equivalent to that of alcohol. Eight states (Washington, Colorado, Alaska, Oregon, Maine, Nevada, California) have followed a referendum, and one, Vermont, by a government decision.
To allow states to maintain a legal cannabis market without the intervention of the DEA, former President Barack Obama signed the Cole Memorandum. He asked the federal police not to apply the law in states that have legalized.
However, the banks, which are subject to federal law, refuse to allow companies in this area to have an account. All payments are made in cash, posing concerns of traceability for the tax.
The lifting of the federal ban by the president is therefore fundamental for the banking sector.
Another significant effect is to allow scientists to conduct studies on cannabis. It will also benefit the medical cannabis industry.
“Like the president told me in my conversation with him, we can't go back, you can only go forward,” Gardner said. “The ketchup is not going to fit in the bottle, as they say. "
Concrete implications for the legalization of cannabis
In practice, the new bill will amend a number of substantive articles of federal law. US states will be able to establish legal cannabis markets.
In addition, the new law, if approved, will exclude all cannabis crops from the legislation. Thus plants containing less than 0,2% THC will not be considered as drugs. They will be marketed like any other agricultural product.