Biden’s Cannabis Policy
What is Biden’s Cannabis Policy?
As New US President Sworn In, Cannabis Insiders Think They Have Answers – LPC
The US has a new president in Joe Biden this week. Many Americans – and the world – will be expecting big changes in a wide range of policies. Biden has already canceled the Keystone XL project and has moved quickly on COVID. But many are wondering: what’s Biden’s cannabis policy?
Many are optimistic.
“We appear to remain on track to federal rescheduling,” said Nathaniel Gurien, chief executive of Fincann. His company provides financial services to cannabis companies – something that has been a problem on both sides of the border. “Fasten your seatbelts, everyone.”
Already in the works is the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. Since this bill was sponsored by incoming Vice President Kamala Harris, it’s a good bet it’s part of Biden’s cannabis policy too. As the name suggests, the MORE Act would decriminalize cannabis and require federal courts to automatically expunge non-violent convictions. Illinois already expunged 500,000 cannabis convictions at the state level earlier this month. (Canada, on the other hand, has been slow to act. Cannabis expungements are not automatic in Canada. Right now, Canadians even have to apply to get a lesser cannabis pardon.)
Ultimately, nobody quite knows what Biden’s cannabis policy will be. It’s possible to even Biden doesn’t know yet. But three more states legalized cannabis last November and overall optimism in the cannabis stock market, it’s a good bet that the United States is another step closer to full cannabis legalization within the next four years.
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