WASHINGTON (AP) — The U.S. Drug Enforcement Administration is moving toward reclassifying marijuana as a less dangerous drug. The Justice Department proposal...
The proposal would move marijuana from the “Schedule I” group to the less tightly regulated “Schedule III."must be reviewed by the White House Office of Management and Budget, and then undergo a public-comment period and review from an administrative judge, a potentially lengthy process.
No changes are expected to the medical marijuana programs now licensed in 38 states or the legal recreational cannabis markets in 23 states, but it's unlikely they would meet the federal production, record-keeping, prescribing and other requirements for Schedule III drugs.
“It’s going to be really confusing for a long time,” said Ziva Cooper, director of the University of California, Los Angeles Center for Cannabis and Cannabinoids. “When the dust has settled, I don’t know how many years from now, research will be easier.” They say it would treat them like other industries and help them compete against illegal competitors that are frustrating licensees and officials in
Rescheduling wouldn't directly affect another marijuana business problem: difficulty accessing banks, particularly for loans, because the federally regulated institutions are wary of the drug's legal status. The industry has been looking instead to aIndeed, there are, including the national anti-legalization group Smart Approaches to Marijuana.
“Schedule III is going to leave it in this kind of amorphous, mucky middle where people are not going to understand the danger of it still being federally illegal,” he said.
Schedule III Medical Marijuana President Joe Biden U.S. Drug Enforcement Administration White House
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