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  • Writer's pictureWAAVE Team

The Democrats and The Weed conundrum... where do they stand?

2020 approaches fast and if cannabis is an important topic for you, you might want to find out how your fav candidate fells about it before you cast your vote.

Legalizing cannabis seems to be just the tip of the iceberg for all politician today, with deeper conversation to be had from banking to criminal reform.

While Gov. Insleey is happy to openly proclaim he comes from the state with "the best weed in the country", other candidate are keeping their stand on the issue under wraps.

Interesting enough, VP Joe Biden who has a long history of being tough on drugs, when it comes to legalizing cannabis, he has not joined those politicians who have openly opposed the move, such as Mike Bloomberg, former major of NYC.

What is interesting, is that even if the top 10 Democratic candidates support legalization no one is verbalizing this support during their campaigns.

And why would this be?

1. The topic is not a top issue for voters

2. Legalization of cannabis has proven a divisive topic

For those in the industry, legalization is not the only issue that will require some planing. Banking is a major impediment to growth, as cannabis remains a controlled substance at a Federal level, financial institutions are limited on the services they can provide to those who legally sell weed in the many states that have progressively created a profitable revenue stream from cannabis.

This is why you cannot use your credit card at your favorite dispensary.

Another problem legislators face is what to do with all the people currently incarcerated for marijuana related crimes, so decriminalization should be a hot topic for many.

Here is where your favorite candidates stand on the issues:

Legalization of Cannabis at a Federal level: ALL IN FAVOR (despite the fact that it has not become a talking point)

Decriminalization: Joe Biden, The vice president has had a change of heart, with a long career of supporting bills that were very hard on drug related crimes leading to much higher incarceration rates, in June 2019, during a campaign speech, he called for the decriminalization of marijuana.

The rest of the candidates are still thinking about where they stand on decriminalization. Surprisingly, Elizabeth Warren, has not shared a plan for this!

Banking Access for Cannabis Firms: NON OF THE CANDIDATES have made up their mind or expressed their position on the topic.

Banking is such crucial issue for the industry. Cash only business inevitably attract crime and the impossibility of having access to business loans means low income entrepreneurs are unable to seize new opportunities in this market.

WAAVE loyalty program brings underbanked retailers into the cashless world. This means a lower risk environment, flexibility and convenience and complete confidentiality for customers. By accepting WAAVE credits merchants can weather this storm while the politicians make up their mind on all cannabis related issues.

Yes, there is a world outside the cannabis industry!

If you are keen to find out where the democratic candidates stand on all issues, we are happy to share with you the link to POLITICO.

Voting is a privilege we have in the US and we should exercise it every time we are given the chance. No matter your political views, go out and VOTE!

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