SHOWN IN A SIDE ROOM AND WAS
NOT APPROVED, SEEN OR
SANCTIONED BY THE CONFERENCES
ORGANIZERS.
GOVERNOR RON DESANTIS ATTENDED
THE CONFERENCE.
A SPOKESMAN SAID HE DID NOT SEE
THE VIDEO.
EVEN AS THE CULTURE OF
CANNABIS GOES MAINSTREAM ACROSS
THE COUNTRY, MARIJUANA RELATED
BUSINESSES FACE A HUGE HURDLE
FOR LEGITIMACY.
OF THE FEDERAL LEVEL
CANNABIS IS CONSIDERED AN
ILLEGAL SUBSTANCE.
THEREFORE MOST BANKS ARE NOT
ALLOWED TO DO BUSINESS WITH
THOSE COMPANIES.
JB CHAVEZ IS AN ADVISOR TO THE
CANNABIS TRADE FEDERATION.
THAT IS A POLICY ADVOCACY
GROUP.
THANK YOU.
WE WANT TO TALK ABOUT THE
PROPOSED LAW AND THE U.S. HOUSE
OF REPRESENTATIVES PASSED THE
SAFE BANKING ACT LAST MONTH.
THE SENATE IS EXPECTED TO PICK
IT UP.
EXPLAIN HOW THIS BILL WOULD
WORK?
THE MOST IMPORTANT THING FOR
PEOPLE TO UNDERSTAND ABOUT
CANDACE CANNABIS POLICY IS THAT
THERE IS A MAJOR CONFLICT
BETWEEN FEDERAL AND STATE LAW.
THIS CREATES A LOT OF
CONFUSION.
THE SAFE BANKING ACT IS ONE OF
THE FIRST STEPS TO RESOLVE
THAT.
AS IT IS TODAY CANNABIS
COMPANIES ARE NOT ALLOWED TO
USE TRADITIONAL BANKING
SERVICES.
THEY HAVE TO OPERATE IN CASH.
THE NEED TO STORE THEIR CASH.
THIS CREATES A PUBLIC HAZARD.
CASES OF ROBBERIES AND EVEN
MURDERS.
WHAT ARE THE CHANCES,
THERE'S A PETITION GOING AROUND
IN FLORIDA RIGHT NOW.
IS ASKING FOR A REFERENDUM ON
RECREATIONAL MARIJUANA IN THE
STATE.
WHAT ARE THE CHANCES THAT WILL
SUCCEED?
THE THERE IS STRONG SUPPORT
FOR THESE ISSUES.
THE MAIN OBSTACLE IS THEY NEED
TO COLLECT ENOUGH SIGNATURES IN
ORDER TO GET THE INITIATIVE ON
THE BALLOT.
ONCE THEY DO THAT THE DEADLINE
IS FEBRUARY 1. IF THEY DO THAT
AND THERE'S EVIDENCE THIS ISSUE
SHOULD HAVE ENOUGH SUPPORT TO
PASS.
THERE WILL BE A BIG TURNOUT.
IT'S LOOKING PRETTY GOOD.
I WANT TO ASK YOU ABOUT THE
SAFE BANKING ACT.
MY UNDERSTANDING IS IN SOME OF
THOSE STATES THERE IS A VENMO
TYPE OF APP THAT CAN BE USED.
WHAT ABOUT THAT IN LIEU OF
CHANGING THE BANKING LAWS?
HOW DO YOU RESPOND TO THOSE WHO
SAY BY CHANGING THESE LAWS YOU
ARE OPENING THE DOOR TO MORE
STATES TO BRING IN LEGALIZED
MARIJUANA?
THE TRANSACTION IS ONLY PART
OF THE PROBLEM.
A LOT OF THESE COMPANIES CAN'T
GET LOANS OR HAVE BANK
ACCOUNTS.
GOING BACK TO THE CASH ISSUE.
WHAT WE SAW IS THERE IS A LOT
OF BIPARTISAN SUPPORT FROM BOTH
PARTIES.
A LOT OF MOMENTUM GOING INTO
THE SENATE.
THIS IS AN ISSUE THAT HAS
GOTTEN A LOT OF POPULARITY.
THERE IS A LOT OF STRONG
SUPPORT.
SUPPORTERS OF TRUMP ARE IN
FAVOR OF MOVING THIS ISSUE
FORWARD.
YOU ARE SEEING IT ON BOTH
SIDES OF THE AISLE?
ABSOLUTELY.
THEY MIGHT MAKE SOME CHANGES.
IF THAT OCCURS IT WILL GO BACK
TO THE HOUSE.
AFTER THAT IT WILL GO OVER TO
THE WHITE HOUSE.
THE WHITE HOUSE HAS INDICATED
EVEN THOUGH THE PRESIDENT
HASN'T MADE SPECIFIC
STATEMENTS.
IF THIS BILL LANDS ON HIS DESK
HE WILL SIGN IT.
MOVING IT TO GO THROUGH THE
FEDERAL BANKS OR BANKS IN
GENERAL, DOES THAT GIVE AN
EXTRA LAYER OF REGULATION AND A
RECORD-KEEPING?
IN TERMS AS IF THERE ARE ISSUES
WITH THE FINANCES AND THE
TRANSACTIONS?
ABSOLUTELY.
WHAT WE REALLY NEED IS THE
FEDERAL GOVERNMENT TO STEP IN
AND SET STANDARDS.
NOT JUST FROM THE FINANCIAL
PERSPECTIVE.
WE HAVE SEEN THIS VAPING ISSUE
THAT HAPPENED RECENTLY.
THE FEDERAL GOVERNMENT NEEDS TO
STEP IN.
LET'S REGULATE IT AND TRY TO
PROTECT THE AMERICAN PUBLIC.
WHAT'S HAPPENING RIGHT NOW
WITH MARIJUANA STOCKS?
THEY HAVE BEEN DOWN.
THE MAIN REASON IS THERE'S A
LOT OF RISK AND UNCERTAINTY
AROUND THIS INDUSTRY.
ANOTHER ISSUE IS THE VAPING
ISSUE.
THAT HAS INVESTORS A LITTLE
SCARED AND WEARY.
THEY ARE LOOKING TO PUT THEIR
MONEY ELSEWHERE.
UNTIL THERE IS A CLEAR MESSAGE
FROM THE FEDERAL GOVERNMENT TO
REGULATE THIS INDUSTRY YOU WILL