States with legal pot denounce federal marijuana crackdown

[Eugene]

Source: Reuters

#POLITICS JANUARY 4, 2018 / 3:21 PM / UPDATED 11 MINUTES AGO

States with legal pot denounce federal marijuana crackdown

Chris Prentice
5 MIN READ

NEW YORK (Reuters) - Lawmakers in U.S. states that have legalized marijuana denounced a move by the Trump administration on Thursday to cancel a policy that kept federal prosecutors at bay from the fledgling cannabis industries and vowed to uphold their state laws.

U.S. Attorney General Jeff Sessions announced that the Justice Department was rescinding an Obama-era policy that eased enforcement of federal marijuana laws amid a wave of legalization in states from Pennsylvania to Alaska. The shift came just three days after California launched the world’s largest regulated commercial market for recreational marijuana.

State officials said the move amounted to meddling in states’ affairs and ignored more pressing priorities like the opioid crisis.

It was not clear how the change might affect a burgeoning marijuana industry in the six states including California and Colorado that have legalized the drug for recreational use, plus dozens of others that permit medicinal use. The industry is forecast to reach nearly $23 billion in sales by 2021.

California’s attorney general, Xavier Becerra, vowed to “vigorously enforce our state’s laws and protect our state’s interests.”

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Read more: https://www.reuters.com/article/us-usa-justice-marijuana-states/states-with-legal-pot-denounce-federal-marijuana-crackdown-idUSKBN1ET2CA

[Irish_Dem]

1. Does Trump send in the national guard to states which are objecting?

And start burning down the mj fields?

[lapfog_1]

2. Nope.

Sends the DEA to arrest the owners of a few commercial grow houses and pot stores...

And he doesn't even have to go that far. The rescinding of the memo was enough to cause banks and investors to back away from legal cannabis sales.

That will disrupt a significant part of the legal pot industry.

[SoCalNative]

3. Banks were never part of the equation

since they are federally regulated and thus never offered accounts to the industry. And investors likely won't care as long as they make money.

[lapfog_1]

4. banks are certainly involved in Colorado

and were becoming involved in California.

This will throw some cold water on that... making recreational pot more difficult.

[Irish_Dem]

5. It is the psychology of the market place. If the govt wants to shut down a business,

makes investors hesitate.

[regnaD kciN]

6. They'll care as long as there's a chance that their investment will be subject to forfeiture...

[Irish_Dem]

8. Yes, I would not put anything past Trump and Sessions. nt

[ghostsinthemachine]

7. Close the storefronts...

Just like Obama did. Sent letters to property owners telling them they were guilty of crimes taking place on their property. Then threatening forfeiture. Set the industry back five years then.