Cannabis, once again, is showing that there are still bi-partisan issues in America. With support across the aisle, cannabis legislation passed by the House early this week is well on its way to being law and providing safe, legal methods for the banking and financial industries to serve cannabis-related businesses. The Secure and Fair Enforcement (SAFE) Banking Act of 2021 will prohibit federal regulators from penalizing financial institutions for providing services to legitimate cannabis-related businesses. This will certainly uncork a significant bottleneck to growth in the cannabis industry. However, as we learned in Schoolhouse Rock, the bill still needs to pass the Senate, where it faces a less certain future than its easy passage in the House, and then be signed into law by President Biden. Our lobbyists in D.C. are on the ground and keeping our cannabis team up to date on the continued movement of this significant legislation.
SAFE Banking Act Has Momentum
Tweets on this subject
"It’s hugely important. Winning a (marijuana) license is only half the battle. This will unlock banking services that certainly will be a benefit to small operators in the space as well as social equity businesses." -Steve Hawkins, MPP's executive directorhttps://t.co/eosSa8PjZX— Marijuana Policy Project (@MarijuanaPolicy) April 20, 2021
https://t.co/9js8IFAAf5— Instadose Pharma Corp (@InstadoseP) April 22, 2021
The SAFE Banking Act, would enable banks and other financial institutions to serve state-legal marijuana businesses without fear of federal punishment.#cannabiscommunity #safecommunity #cannabis #legalization #instadosepharma