US Attorney General Eric Holder confirmed that the Department of Justice was wrapping up their evaluation of legalized marijuana in Washington and Colorado and would issue a statement "soon."
Holder told Colorado A.G. John Suthers: "We're in the last stages of that review and we're trying to make a determination as to what the policy ramifications are going to be, what our international obligations are --- there are a whole variety of things that go into this determination --- but the people of [Colorado] and Washington deserve an answer and you will have one soon."
The comments came during a question and answer period following Holder's written remarks at the National Association of Attorneys General conference being held in Washington, D.C. Voters in both Washington and Colorado elected to legalize the personal use of marijuana for adults in November 2012.
Holder revealed that the Department of Justice was "in the process of reviewing both of the initiatives that were passed."
Pressure is on the DOJ to make a ruling. Lawmakers have recently filed bills in the House of Representatives that would introduce descheduling of marijuana, legalized industrial hemp and tax/regulate systems for marijuana distribution in the United States.
"Entrepreneurs hoping to capitalize on the emerging recreational marijuana market have been on the edge of their seats for several months," reports the MMJ Business Daily. "How the government responds to the new state laws will have huge business implications. Billions of dollars in revenues and countless opportunities are at stake."
Although the implications of federal acceptance of legalized marijuana are staggering, the two states involved will be the crucibles of this form of capitalism. The Daily reports that "entrepreneurs in Colorado and Washington have already started writing up business plans for retail operations, hoping for the best. And dozens of companies have cropped up to capitalize on this emerging market, providing everything from legal services to educational events to consulting."
AG Holder's official statement from the Conference can be read here:
Source: The Compassion Chronicles