In a move with huge potential implications, Sen. Chuck Schumer (D-NY), the Senate minority leader, said earlier today that he plans to introduce a bill to deschedule cannabis nationwide. More powerful than decriminalization, descheduling cannabis would get the federal government out of the cannabis prohibition business altogether.

In an exclusive interview with Vice News, Schumer said his forthcoming bill will have four main points:

• Remove cannabis from the DEA’s list of controlled substances. This would end federal prohibition and leave the regulation of cannabis up to individual states.

• Create funding for minority and women-owned cannabis businesses

• Provide money for research into cannabis, with a focus on its effect on driving impairment

• Maintain federal authority over cannabis advertising, in the same way the federal government regulates alcohol and tobacco ads.