In a recent Insuring Cannabis podcast episode released by insurancejournal.com, host Don Jergler sits down with Paul Armentano, Deputy Director of NORML, and Morgan Fox, with the National Cannabis Industry Association to discuss if federal legalization is on the near horizon.
Covering both the MORE Act and the SAFE Banking Act, Fox said he believes the MORE Act will pass, removing cannabis from Schedule I; however, further rescheduling is unlikely at this time due to the partisan nature of the issue.
SAFE Banking is seen as necessary to help companies large and small access traditional banking services.
Armentano pressed the point that the reason all of these impediments remain in place will continue until cannabis is removed from its schedule 1 classification, where it has remained since 1970.
Said Armentano, “ So for both practical reasons and symbolic reasons, we think passage of SAFE Banking is important.”
