One cannabis company CEO says he's "somewhat given up" on the pace of U.S federal cannabis legalization. During an interview with BNN Bloomberg on Thursday, David Klein, chief executive officer of Canopy Growth, explained that his business doesn't depend on federal legalization to "work really well."
"At some point the (U.S.) federal government will decide to completely legalize it and put a federal excise tax regime in place and so forth but we don't need that for our business to be functioning, profitable and successful," he said.
"We need rescheduling, which is going to happen, safe banking would be very helpful and we're hearing really good things coming about as it relates to that, and the last thing that would be helpful, in particular for our structure, is safe harbour for the exchanges."
He added that, after these measures, "90 per cent of the benefit that canopy could get from federal legalization will already be in the bank." Klein pointed out that Canopy is a relatively new company in a relatively new industry, one that sees "changes that happen literally every single week."
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