ST. LOUIS — Don't expect the federal government to legalize marijuana or the banking of its businesses anytime soon.
That was the message Monday from a panel of experts at a conference at Union Station sponsored by industry organization MoCannTrade (Missouri Medical Cannabis Trade Association).
"We're probably not going to see anything happen until after the election," said Christopher Jensen of the National Cannabis Roundtable, which promotes federal regulatory reform for the industry.
Nonetheless, it was a glass-half-full panel, which also included Aaron Smith of the National Cannabis Industry Association and Fred Niehaus of the American Trade Association for Cannabis and Hemp.
Smith, for example, said the Trump administration is more amenable to reform than the Obama administration under Attorney General Eric Holder, which cracked down on medical marijuana suppliers in several states. "No one today is threatening anything like that," Smith said.
But substantive changes in marijuana laws will require Congress to act, the panelists said, and the Senate isn't eager.
The SAFE Banking Act, which would provide safe harbor to financial institutions that bank marijuana-related businesses and passed in the U.S. House last fall, continues to face difficulty in the Senate. "We have an uphill battle," Smith said.
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