Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find 'Sweet Spot' For Crypto Regulation
"The U.S. government has got to get its act together and decide what it really thinks on this issue," says Chris Christie.
In an exclusive conversation with Benzinga Cannabis facilitated by Covers.com, Christie outlines his perspectives on the future of cannabis regulation and cryptocurrency adoption, framing both within a broader trend of deregulation he expects to see under Trump's leadership. As the country moves forward, Christie believes cannabis and crypto are poised to experience significant changes though each industry will need to navigate its own unique challenges.
Christie On Cannabis: ‘Trump Will Attempt To Deschedule’
Christie begins by tackling the complexities surrounding cannabis regulation, a topic he's been openly conservative about throughout his political career. Although he's traditionally opposed to federal legalization, Christie notes a potential shift under President-elect Donald Trump. "What I suspect he would really like to do is get it downgraded by the DEA so that it’s not illegal," Christie says. Cannabis remains a Schedule I substance, making it federally illegal despite a growing wave of state-level legalization. For Christie, the legal status presents an obstacle for the industry, particularly regarding banking and financial services. "The trouble the cannabis industry has now is that a lot of people still won't do business with them, because the proceeds are tainted by the fact they are created through a drug that is illegal in the United States."
Christie suggests that descheduling cannabis—removing it from the DEA's list of controlled substances—could provide a workable solution. By changing its classification, he believes, the federal government could make way for legitimate business operations without directly endorsing legalization. "What I think Trump will attempt to do, which I don't favor, is change marijuana to a non-scheduled drug that wouldn’t be illegal, and then banks and other institutions would be more free to do business with cannabis store owners and entrepreneurs," he says. This stance marks a shift in Christie's approach, where he appears to reconcile his conservative views on cannabis with a pragmatic view of the industry's needs.
