EXCLUSIVE: Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find 'Sweet Spot' For Crypto Regulation (UPDATED)

Editor’s note: This story has been updated to more accurately report a quote from Chris Christie that states he is not in favor of cannabis descheduling.

"The U.S. government has got to get its act together and decide what it really thinks on this issue," says Chris Christie, former New Jersey governor and longtime conservative voice, addressing the state of cannabis in America under a 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, framing both within a broader trend of deregulation he expects to see under Trump's leadership. As the country moves forward, Christie believes cannabis and crypto are poised to experience significant changes though each industry will need to navigate its own unique challenges.

Christie On Cannabis: ‘Trump Will Attempt To Deschedule’

Christie begins by tackling the complexities surrounding cannabis regulation, a topic he's been openly conservative about throughout his political career. Although he's traditionally opposed to federal legalization, Christie notes a potential shift under President-elect Donald Trump. "What I suspect he would really like to do is get it downgraded by the DEA so that it’s not illegal," Christie says. Cannabis remains a Schedule I substance, making it federally illegal despite a growing wave of state-level legalization. For Christie, the legal status presents an obstacle for the industry, particularly regarding banking and financial services. "The trouble the cannabis industry has now is that a lot of people still won't do business with them, because the proceeds are tainted by the fact they are created through a drug that is illegal in the United States."

Christie suggests that descheduling cannabis—removing it from the DEA's list of controlled substances—could provide a workable solution. By changing its classification, he believes, the federal government could make way for legitimate business operations without directly endorsing legalization. "What I think Trump will attempt to do, which I don't favor, is change marijuana to a non-scheduled drug that wouldn’t be illegal, and then banks and other institutions would be more free to do 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-button topic: cryptocurrency. Known for its volatility and potential for high returns, crypto has seen a significant uptick in adoption over recent years. With Trump heading to the White House, Christie predicts a favorable environment for crypto's continued expansion. "I think it will develop because he’ll not be in favor of doing a lot of regulating on it," he says, suggesting that Trump's general stance on deregulation could encourage further growth in the crypto sector.

However, Christie is quick to add a note of caution. "He’s got to be careful because when real people start to lose their money, and if that were to happen with crypto, they’re going to want the government to step in." For Christie, the challenge lies in striking a balance between fostering innovation and protecting the public. He stresses what he calls the "sweet spot" where regulation is minimal enough to allow growth, yet sufficient to shield investors from potential losses. "He’s got to try to find a sweet spot where he can regulate it enough so that grandma is not getting ripped off, but not so much that he puts a cap on its ability to grow and be a driver of America’s economy."

Are Christie’s Evolving Views A Reflection Of GOP’s Evolution?

Christie's pragmatic approach to cannabis and cryptocurrency reflects a broader trend within the GOP: 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 prohibit cannabis as it sees fit. "The decision should be left to each individual state on cannabis regulation." This perspective aligns with Christie's conservative stance, although he acknowledges that a federal descheduling effort might make life easier for the industry.

With the potential appointment of figures like RFK Jr. to key health positions under a Trump administration, the regulatory landscape for both cannabis and crypto could evolve rapidly over the next four years. As Christie sees it, the approach Trump takes will shape not only the cannabis and crypto markets but also public sentiment 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 shifting political and economic landscape.

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