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.
- Most notably, Crapo proposed a product potency cap of 2% THC for companies seeking bank access. A cannabis lobbyist called it “unworkable and unrealistic.”
- Crapo, who seemed to indicate interest, if not support, for banking reform in September, reiterated his opposition to legalization.
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.
- Tom Angell runs through marijuana’s 10 biggest victories of 2019.