RE:RE:Next Steps?Not surprised at all West, but what possible legitimate reason could there be to hold up banking at this stage of the game especially?
How could the banking possibly be anything but one less concern out of the way..a concern that is less than meaningless to the civil servants yet so major to the legit cannabis industry on a daily basis?...the same industry that they have purported to be of their utmost concern for so many years now? At least Dem Sen Hickenlooper and what appears to be High Times, an industry mag of record for decades, and the majority of the US/ NA population.
It looks like this is just another editing of the bill with the vote and passage to come or did they pass it today? Your opinion is appreciated. JMHO...Opt
https://hightimes.com/business/colorado-senator-says-lack-of-cannabis-banking-a-recipe-for-disaster/
WestCoast78 wrote: yp01048 wrote: Now that Safe is officially dead from NDAA, as we all suspected, what comes next? I know Perlmutter is not giving up, but now that NDAA is over, will the next big piece of legislation be cannabis? I know eventually the COA act has to see the light of day again.. Just wondering how soon.
Are you surprised? This was well communicated. Hopefully he doesn't waste too much time on his thing, but one refreshing takeaway was the overwhelming bipartisan support for the safe. This is taking too long, but they are not wrong. They can definitely get some more things injected into the safe they will actually have more meaningful impact on peoples lives.
Both Hawkins and Perlmutter noted that there’s solid bipartisan support for SAFE Banking.
But the measure ran up against opposition from key Senate Democrats and the Drug Policy Alliance.
Both groups urged lawmakers not to approve SAFE Banking before passing a more comprehensive marijuana legalization bill, such as the MORE Act, which the House has approved multiple times but which the Senate has ignored.
From one analyst at Cowen:
Whether happens late in the first quarter or sometime in the second quarter, [00:09:00] we do expect that Schumer will move on past his discussion draft, and we’re going to see attention then shift to what can get added to the Safe Banking Act. The good news here is we do see a path for an expanded Safe Banking Act to become law. How big that expansion is, really is going to depend upon whether [00:09:30] Senator Schumer is content with compromising, or if he’s just looking for the narrowest of packages so that they can at least claim to pass the first major cannabis bill. From our perspective, I still think there’s a good shot they go big, and that could mean adding in the States Act, which simply for federal law recognizes [00:10:00] how each state has decided on cannabis.
That’s de facto legalization at the federal level in states that have legalized. You would get commercial banking access. You would get capital markets access under this expanded bill. That means uplistings are, and there would be social justice priorities added there. It might not be as expansive as what’s in his draft bill, but certainly minor possession, [00:10:30] convictions would be expunged. I think there would be an excise tax imposed on cannabis, and those funds would be used to support grants, to help minority communities participate in the legal cannabis business