The cannabis industry's growth has been hampered by federal, tax, and banking restrictions, impacting small businesses despite demand. Advocates initially hoped for progress from the new administration; however, current stances reflect inaction on reform. A White House official confirmed no immediate plans for policy change, creating uncertainty within the industry. Although the president previously expressed support for rescheduling marijuana and endorsing state initiatives, concrete steps have been absent. Events such as a postponed DEA hearing and unsuccessful legislative efforts further illustrate the administration's lack of prioritization of crucial reforms like the SAFE Banking Act.
Inaction marks the administration's current stance on marijuana reform, despite previous support and campaign promises to ease restrictions and facilitate banking for cannabis businesses.
Despite initial hopes for policy reform under the new administration, stakeholders are left uncertain as no concrete actions have been taken to address federal cannabis regulations.
The president's campaign included commitments to rescheduling marijuana under the CSA, but since taking office, the lack of progress on this initiative has disappointed advocates.
While the administration supports state autonomy in cannabis policies, it has yet to prioritize key federal reforms like the SAFE Banking Act, impacting industry growth.
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