EXCLUSIVE: Chris Christie Says Trump Will Remove Federal Marijuana Restrictions, Find ‘Sweet Spot’ For Crypto Regulation (UPDATE)

Editor’s note: This story has been updated to more accurately report a quote from Chris Christie who says he does not support descheduling cannabis.

“The US government needs to get its act together and decide what it really thinks on this issue,” says Chris Christie, former governor of New Jersey and longtime conservative voice, addressing the state of cannabis in America under the new Trump administration.

In an exclusive conversation with Benzinga Cannabis facilitated by Covers.com, Christie outlines his perspectives on the future of cannabis regulation and cryptocurrency adoption, fitting them into a broader trend of deregulation that he sees. ‘expects to see under Trump’s leadership. As the country moves forward, Christie believes cannabis and crypto are poised for significant change, although each industry will face its own challenges.

Christie on cannabis: “Trump will try to deprogram”

Christie begins by addressing the complexities surrounding cannabis regulation, a subject on which he has been openly conservative throughout his political career. Although traditionally opposed to federal legalization, Christie notes a potential shift under the presidency-elect. Donald Trump. “What I suspect he’d really like to do is have it declassified by the DEA so it’s not illegal,” Christie says. Cannabis remains a Schedule I substance, making it illegal at the federal level despite a growing wave of legalization at the state level. For Christie, the legal status constitutes an obstacle for the sector, particularly with regard to banking and financial services. “The problem with the cannabis industry right now is that many people still don’t want to do business with it, because the profits are tainted by the fact that they are created from an illegal drug in the UNITED STATES.”

Christie suggests that delisting cannabis, removing it from the DEA’s list of controlled substances, could be a viable solution. By changing its classification, he believes, the federal government could pave the way for legitimate business operations without directly approving legalization. “What I think Trump will try to do, which I’m not in favor of, is turn marijuana into an unscheduled drug that would not be illegal, and banks and other institutions would then be freer to make business with cannabis store owners and entrepreneurs,” he says. This stance marks a shift in Christie’s approach, where he appears to reconcile his conservative views on cannabis with a pragmatic view of the industry’s needs.

Christie on crypto: finding a “sweet spot”

Beyond cannabis, Christie also weighs in on another hot topic: cryptocurrency. Known for its volatility and potential for high returns, crypto has seen a significant increase in adoption over the past few years. As Trump heads to the White House, Christie predicts a favorable environment for crypto’s continued expansion. “I think it’s going to grow because he’s not going to be in favor of significant regulation in this area,” he says, suggesting that Trump’s general stance on deregulation could encourage increased growth in the crypto sector .

However, Christie is quick to add a caveat. “He has to be careful, because when real people start losing their money, and if that were to happen with crypto, they will want the government to intervene.” For Christie, the challenge is finding a balance between promoting innovation and protecting the public. He highlights what he calls the “sweet spot” where regulation is minimal enough to allow growth, but sufficient to protect investors from potential losses. “He needs to try to find a sweet spot where he can regulate the situation enough so that Grandma doesn’t get ripped off, but not so much that it limits her ability to grow and be a driver of the American economy.”

Are the evolution of Christie’s views a reflection of the evolution of the GOP?

Christie’s pragmatic approach to cannabis and cryptocurrencies reflects a broader trend within the Republican Party: a preference for state-led decision-making combined with cautious federal oversight. On cannabis, he continues to support a state-by-state approach, emphasizing that each state should have the freedom to regulate or ban cannabis as they see fit. “The decision should be left to each state when it comes to cannabis regulation.” This perspective aligns with Christie’s conservative position, although he acknowledges that a federal deprogramming effort could make life easier for the industry.

With the potential appointment of figures like RFK Jr. to key healthcare positions under the Trump administration, the regulatory landscape for cannabis and crypto could evolve rapidly over the next four years. According to Christie, the approach Trump takes will shape not only the cannabis and crypto markets, but also public opinion and investor confidence. His vision, rooted in deregulation with a careful dose of oversight, aims to balance the drive for innovation with a commitment to public safety – a delicate act in today’s rapidly changing political and economic landscape.

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