Georgia Senate Race Key To Progress of MORE Act Says Nathaniel Gurien, CEO FinCann

This week it has been Georgia on everybody’s mind.

Yes Trump has finally managed his aim to make Watergate look like a sideshow in the history of American politics with that phonecall.

But remember. It isn’t just his political legacy ( does he have one?) on the line with that state’s Senate race,  it is also the future of the MORE act, or at least its 2021 future.

Nathaniel Gurien, CEO FinCann the industry body for cannabis finance access in the US also points out…

Informed industry consensus for over a year now has been that cannabis de-scheduling (in one form or another) is likely in 2/Q-3/Q 2021. If the Senate flips Democratic, the MORE Act is a near certainty, or a little less likely (since Congress would have to produce new legislation) is full federal legalization in the manner that the 2018 Farm Bill legalized hemp and hemp-derived products such as CBD. Under either scenario, the SAFE Banking Act (of minor impact in any event) would become moot. 

In the event, if the Senate remains in Republican hands, passage of the SAFE Banking Act (if Sen Toomey – R-PA remains chair of the Senate banking committee) is near certain, and passage of the MORE Act has a better than even but by no means certain likelihood of passage.

Based upon his public statements, President Biden would likely be hesitant to sign the MORE Act, but VP Harris would likely exert effective pressure to persuade him.

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