OH CRAPO! BANKING BILL RUNS AGROUND
JOSHUA ROBERTS/GETTY IMAGES
Senate Banking Committee Chair Mike Crapo (R-Idaho) said he opposes the cannabis banking bill passed by the House. Instead he proposed changes likely to be non-starters for the industry.
Marijuana Moment
- Most notably, Crapo proposed a product potency cap of 2% THC for companies seeking bank access. A cannabis lobbyist called it “unworkable and unrealistic.”
MJBiz - Crapo, who seemed to indicate interest, if not support, for banking reform in September, reiterated his opposition to legalization.
Politico
On the other side of Pennsylvania Avenue, the Trump administration proposed denying asylum to misdemeanor drug offenders, except one time offenders possessing less than 30g of marijuana.
Marijuana Moment
- Trump signed a federal funding bill which extended protections to state legal MED, but not REC activity. As he has done in the past, he added signing statements reserving his right to ignore those protections.
Forbes - The law also raised the federal tobacco age to 21.
CNN
Quick Hit
- Tom Angell runs through marijuana’s 10 biggest victories of 2019.
Forbes
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