Trump and Cannabis, What is in Store for the USA?
Medicinal cannabis is something that the president supports
Donald Trump's landslide presidential victory in the United States election will set a new precedent for the various disputes surrounding the federal legalisation of cannabis in the United States, including finances generated from cannabis sales, the medicinal sector and the regulation of medical use. Medicinal cannabis is something that the president-elect supports 100%.
What is Donald Trump's Stance on Cannabis?
Donald Trump has been very cautious when speaking about cannabis reforms on cannabis, a subject that a substantial part of Americans support. One of his last statements was in favour of a referendum that was voted in California to decriminalise the recreational adult use of cannabis.
"As president, we will continue to focus on research to unlock the medical uses of marijuana," said twice-elected Trump on his social media.
Trump plans to continue with the reclassification of cannabis as a Schedule 3 drug, meaning that it has therapeutic value and does not generate as strong a dependency as drugs classified in Schedule 1 of the United Nations international anti-drug treaties.
Since cannabis is currently classified as Schedule 1, financial institutions can't incorporate the income of companies, even those that are legally established, not only in the United States but worldwide. This is largely due to the dependence of peripheral financial markets, such as those in Latin America, on bank headquarters in the United States.
“We will work with Congress to pass common-sense laws, including safe banking for state-authorized companies,”Trump stated in the days leading up to the election where he beat Democrat nominee Kamala Harris.
Trump also declared that he would support “the rights of states to pass cannabis laws, such as in Florida, that work so well for their citizens.”
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