Federal Rescheduling Is ‘Not Enough,’ Says Industry Executive, Policy Change Urgently Needed
As federal cannabis rescheduling looms, many in the industry are cautiously optimistic about the potential impact. Michael DeGiglio, CEO of Village Farms, says the changes could be just the beginning of the road to meaningful reform.
DeGiglio, who spoke during an interview at the recent Benzinga Cannabis Capital Conference, shared his thoughts on the challenges the cannabis industry faces despite the possibility of cannabis being moved to a Schedule III classification. While he acknowledged the potential benefits, particularly in reducing the cost of debt and access to capital, DeGiglio expressed frustration over the lack of progress in federal policy.
“No Policy Movement for Four Years”
Reflecting on the current state of cannabis reform, DeGiglio didn’t mince words. “It’s been a disaster, in my opinion, four years of really no policy movement whatsoever,” he said.
Despite operating one of the largest cannabis cultivation facilities in the world, Village Farms — like many other cannabis companies in the U.S. — is still unable …