Could Sessions’ Cancellation of the Cole Memo Actually Solve Marijuana’s Money Problem? – News

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Since U.S. Attorney General Jeff Sessions’ latest announcement to rescind the Cole memorandum — Obama-era guidance directing federal attorneys to lay off state-compliant canna-businesses — the industry is once again dealing with a renewed degree of uncertainty. While at the surface, it may seem like rescinding the Cole Memo would bring the cannabis industry’s fast-moving progress to a halt, many industry folk are brushing it off. In fact, some argue that now may be a better time than ever to invest in cannabis.

“The announcement from Jeff Sessions threw shock waves through the industry, but as the smoke clears, it’s evidence this may be the boost we needed,” says Jesse Peters, CEO of Eco Firma Farms in Oregon. With legalization in California and the industry already supporting more than 200,000 jobs, it’s already too late to turn back, he adds. Peters predicts that rescinding the Cole memo will force Congress to act and craft legislation to protect the cannabis industry and end prohibition more quickly.

After all, the Cole memo was not a piece of legislation, but only guidance. It didn’t carry the same weight and authority of actual…

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