LONG BEACH, Calif. — Senate Majority Leader Mitch McConnell, a longtime opponent of reforming marijuana laws, is spending more time than usual thinking about cannabis on a trip to California this week.
It was not immediately clear whether McConnell’s California Wednesday and Thursday schedule signals a shift in his thinking about cannabis banking reform, the people said. McConnell’s Washington office did not respond to several requests for comment.“I think this is absolutely positive that McConnell is meeting with stakeholders in the cannabis market,” PI Financial analyst Jason Zandberg told MarketWatch over the phone. “The U.S.
“We’re happy to see that Leader McConnell is coming to see how a regulated market is an improvement over prohibition,” National Cannabis Industry Association executive director Aaron Smith told MarketWatch in an interview. “Right now the priority is banking, which affects [McConnell’s] constituents in the hemp and CBD industry, as well as legal cannabis businesses here in California.
Large amounts of cash sloshing around the cannabis sector makes pot companies the target of robberies and other crimes, lobbyists in favor of the SAFE Act have said.
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