The Dales Report-Misconceptions of SAFE Banking HearingGood interview, need to watch whole thing. The misconceptions include that SAFE will greatly help the large MSOs, which it probably will not as they have a suite of banking services already. As they say, 15% of financial instituitions already deal with pot companies.
The constant argument that is used is the cash transactions need to be eliminated, but that requires credit card companies to be able to processs transactions. But, SAFE may not solve that problem because credit card companies are federally regulated and pot will still be illegal federally. And just because SAFE is passed, credit card companies and banks may still refuse to deal with pot companies as they are not bound to the new law. The other interesting comment was that if you get rid of 280e, there's a chance it will be replaced with something more complicated or an excise tax. That's what happened in Canada, provincial and federal taxes are killing the industry.
The postive from the interview is how quickly the SAFE hearing is happening and the bipartisan support which is unusual considering everything going on in Washington right now.
https://www.youtube.com/watch?v=67USISZoaDs&t=1229s