The committee will now come to order. Before we get started. We have to win this panels this morning. Senator brown and i will give our opening remarks first and then we will hear from Senators Gardner and merkley. Once the senators have finished their statements we will proceed with our second panel of witnesses. Today the committee will hear from witnesses about the challenges that state sanction businesses in the cannabis industry have one trying to access mainstream Financial Services. Under the controlled substance act, marijuana, or cannabis is currently considered a schedule one drug. Being categorized as a schedule one drug means that the possession, distribution, or sale of marijuana or other marijuana derive projects is illegal under federal law. Any protests proceeds from cannabis remain subject to anti Money Laundering laws such as the Money Laundering control act. In the last several years many have used legalized marijuana in some form. Whether legal or recreational. Use
Marijuana derived products is illegal under federal law. Theyre subject to antiMoney Laundering laws such as the Money Laundering control act. The last several years many states used Ballot Initiatives or referendums that legalized marijuana in some form whether for recreational or medical use. Currently there are 11 states plus the district of colombia where it is legal to buy and consume Recreational Marijuana and medical marijuana as well. And there are 22 states plus d. C. That have approved medical marijuana totaling 33 states in all that have some form of Legal Marijuana. The senators introduced Bipartisan Legislation that attempts to ease difficulties resulting from the legal status and more lenient state laws. I spoke many times with senator gardiner on this bill and appreciate the hard work that each senator has done on this legislation. And i look forward to hearing from each of you very soon. Our second panel of witnesses will highlight challenges that institutions face in b
Investors investing in china, but also a broader issue of these financial flows between the u. S. And china and how you addressed those when they involve an economic rival, a Rising Economic rival like china. I think we have seen these qualified denial from the u. S. Treasury and peter navarro, but also confirmation that this conversation is taking place inside the white house. Kevin what are the expectations for next meets meeting with the chinese for next weeks meeting with the chinese vice premier . Thethe explanation expectation are they continue talking. We should be clear that we are not close to a grand bargain. I think the real subject of conversation right now is how do you keep a temporary truce or some kind of peace in the world . One thing we will be looking for in these october 10 and 11th talks is what the u. S. Announces in terms of tariffs due to go up october 15. Shery tonight china celebrates the 70th anniversary of the rule of the communist party. Given the political
The committee will now come to order. Before we start, we have two witness panels. Senator brown and i will give our opening remarks and then we will hear from Senators Gardner and merkley. Once the senators have finished their statements, we will proceed with our second panel of witnesses. Today, we will hear from witnesses about the challenges that state sanctioned businesses havee cannabis business when attempting to access mainstream Financial Services. Marijuana or cannabis is currently considered a schedule one drug. Being categorized as a schedule one drug means that distribution, sale, of marijuana or marijuanadrug products is illegal under federal law, and any proceeds from cannabisrelated activities remain subject to u. S. Andnt laundering laws, such as the antilaundering control act. In the last several years, many states have used referendums that have legalized the marijuana and some form, whether recreational or medical use. Currently, there are 11 states, plus the distri
The bottom line, President Trump saying iran must never obtain a Nuclear Weapon and the u. S. Was never allowed to do so. From a policy standpoint, he doubled down on his decision to withdraw from the Nuclear Disarmament arrangement negotiated during the Obama Administration and saying the crippling sanctions against iran have further isolated them. Enough,f that were not we have the president getting ready to fly to japan for the g20 meetings. There were a lot of expectations about maybe some progress is being made because they pulled back on a speech from the Vice President. Pence Vice President mike has been assertive in criticizing president xis regime in china is canceling a speech he was supposed to give that would have fit with the types of speech yesterday in the t, and aggressive chance stance against the chinese for how theyve been negotiating the trade deal and for their International Economic policies. That coupled with the rhetoric we have seen from larry kudlow as well as