RE:SAFE Banking Act - Back in Senate for Vote
quinlash wrote: The SAFE banking act moved back into the Senate last week for vote, the Senate is now majority controlled by the democrates and is expected to pass. Once passed into law it will be legal for banks to do business with Cannabis Producers.
HEXO is likely to be unaffected as it is a Canadian company and legally does business with Canadian operated banks however progress on the SAFE Act will certainly bring a great deal of attention back to the Cannabis Sector.
Link to Update on SAFE Banking Act
https://mgretailer.com/cannabis-news/safe-banking-act-reintroduced-in-the-u-s-senate/
I respectful disagree Q, although Hexo is Canadian, Hexo/ Truss and KIT "USA" which are all Registered as US entities will all benefit from the Safe banking act + every store that are and will sell truss beverages and future products will also benefit which should help boost sales.
additioanlly, I bet (IMHO) that we see US cpg partnership come out once the act goes through because F500+ companies will feel better moving fwd on cannabis in the US once they know federal banking issues are nil.
cheers and have a good wkd!