RE:RE:RE:Marijuana Banking Reform Will Advance In The House Before Le US Congress reintroduced the SAFE banking act on Thursday, a vital piece of legislation members of the cannabis industry have been clamouring to see passed for years. The bill will essentially provide safe harbour for financial institutions that service the cannabis industry as federally-regulated banks can't conduct business with companies that directly handle the marijuana plant. It was updated to also specifically include hemp and CBD businesses in the safe-harbour provision. A previous version easily passed in the House of Representatives but died in the Senate. Analysts expect this bill to become law by the end of the year. Meanwhile, legalization efforts continued across several states over the past week including New York and New Mexico
Iminlong wrote: Thanks WestCoast. A good read and is consistent with the idea that the SAFE Banking Act would become law before MORE. In my opinion the SAFE Banking Act would definitely qualify as one of a number of potential "Triggering events" as others have also said. The securities and commodity exchanges are included, by definition as being "financial institutions" and, as the article states, SAFE would allow financial institutions to do business with cannabis clients. That means the US exchanges could do business with their clients such as Canopy, STZ, etc. It's coming very soon!!