Banking BillThat's the $50 billion dollar question: What will it take before potpreneurs feel secured enough from legal harassment by the heavy handed Feds and other law enforcement to go full boar and properly launch the US greenrush.
God bless'em for cranking up some cannabinoid businesses with intention with the current clusterfuhx they have in the US. US MSOs have negotiated the pitfalls to be tail to snout cannabinoid companies, doing business, where allowed and with very restrictive rules, licensing problems and permitting at all levels of government from Federal to Civic to throw in as many roadblocks as the naysayers can conjure, including the local dogcatcher's two cents worth.
You can't blame Canopy and our competition of LPs in Canada for keeping a low profile and making strategic and legal moves to get toeholds on US soil considering that we are still trying to streamline some commonsense into our own legislation to allow potpreneurs to thrive in a country that had enough initiative to legalize rec use marijuana for adults. One good thing Canada has done is have blanket Federal rules and guidelines such that we can do interprovincial transport which allows central manufacture which contributes to consistency, safety and not having to have all of the necessary components in one province which is currently the situation in the US.
Canopy and our Canadian counterparts aren't sitting around waiting for something momentous to happen Federally in the US! They are figuring out legal segways to have quick startup on US soil, in the US marketplace with ingenious and financially demanding moves to own or position themselves in controlling positions in feasable, like minded US companies that will complement planting our company flag as legal and viable US and International businesses.
I still give Canopy huge credit as being the leading marijuana company in the world and despite the leadership change from dreambuilder to Constellation hardcore businesspeople who's approach is: show me the money!
That doesn't mean the dream is dead but most recognize that we need government support to listen to and incorporate into law what the marijuana lobbysists are in need of to compete and have a level playing field with all other US based businesses, especially beverage alcohol who we are targetting for some of their marketshare and profit revenue.
Canopy is proactively moving towards profitable intentions with the backing and guidance of Constellation Brands management people who are also pulling strings for our contracted US MSO Acreage Holdings that have been paid millions of dollars to ink the deal where Canopy assumes Acreage and all of their US tentacled multi state assets that Canopy and Constellation can bring their skus and business expertise to such that they can maintain leadership as cannabinoid companies.
They have also lined up more US based companies like Terrascend and Gage that have niches to complement our efforts.
Will a SAFE banking act be enough for Canadian and other non US interests to bravely move into US territory to expand cannabinoid businesses?
I believe it will, because it is always about the money. It would be better if they burned the midnight oil and came up with the best parts of SAFE, MORE and ACS? and put together a bill that launches the US cannabis and hemp business into the 23rd century. Federally legal with the same set of rules and interstate commerce that allows the products to cross State lines and invites International competition would be perfect.
And if it all goes to shyt when the Senators get it for their perusal, keep in mind that it is still going to happen, One State at a time! And with the same potholes and changing rules that existing players are already dealing with.
Biden is backpeddling on the oil biz and kicking the legal rec cannabis for adults down the road isn't going to win any votes for either party. Maybe that 3rd potential new party to split the stalemates will be the New Green Party of Proactive Pot Players and consumers, hopefully led by the current president of the Ukraine, Zelinskii, a man of courage and decision. Bravery, smarts and action is something US politics desperately needs.
glta and dyodd