SAFE Act

New Congressional Report Highlights Perils Of Cash-Only Transactions For Cannabis Industry Licensed state-legal cannabis businesses are facing significant challenges, due the the lack of banking access, suggested a report published by the Congressional Research Service (CRS) on Tuesday. "If...

The National Cannabis Roundtable (NCR) announced on Thursday it added former Congressman Ed Perlmutter (D-Col.) to its roster of federal policy advisors who pushed for cannabis reform for years. Perlmutter joined former Sen. Cory Gardner (R-Col.), former U.S. Deputy Attorney General Jim Cole,...

Over the past several years, the US cannabis industry has experienced many important milestones. Among the important ones are the 24 states to date have legalized adult-use cannabis and some 40 states that have launched medical marijuana programs, President Biden’s pardon...

A new survey conducted by Morning Consult on behalf of the American Bankers Association (ABA) from September 20-22, 2023 revealed that the majority of Americans are in favor of Congress passing a marijuana banking bill and are pleased with their banks. The cannabis banking bill, or...

Zuanic & Associates' latest report outlines a roadmap for the SAFE Banking Act in the US cannabis industry, emphasizing the significance of rescheduling, US exchange uplisting, and a potential "Cole Memo II" (Garland Memo) as more critical catalysts than the SAFE Act itself. Join...

James Comer (R), a chair of the House Oversight and Accountability Committee said late Friday that a vote on the Cannabis Users’ Restoration of Eligibility (CURE) Act will take place this Wednesday. The bipartisan bill, CURE Act was introduced by...

The MSOS ETF (ARCA: MSOS) gained 69.4% between 8/25/23, five days before the blockbuster announcement of an HHS rescheduling recommendation to this past Friday, 9/8/23. Similarly, the EV/Next-Twelve-Month consensus EBITDA multiples for the group in the chart have increased by 27.5%....

Schumer: We're Still Working On Cannabis Banking Bill Lawmakers are still trying to push for the passage of a bipartisan cannabis bill, Senate Majority Leader Chuck Schumer said Wednesday.  Any action on the Secure and Fair Enforcement (SAFE) Banking Act will postpone for another...

Remember when New York-based Signature Bank (OTCPK: SBNY) became the third financial institution to collapse following the demise of Silicon Valley Bank and Silvergate Capital Corp? This led to some unexpected, if ironic, consequences...the ...

Vote on Marijuana Banking Expected Within Two to Three Weeks The Senate Banking Committee led by Ohio Senator Sherrod Brown, Committee Chair, heard testimony on the SAFE Banking Act on May 11 for nearly two hours before adjourning without a vote. Brown said recently a long-awaited vote on cannabis...

In a letter circulating among national criminal justice reform organizations, concerns are raised about the White House's Statement of Administration Policy (SAP) on H.R. 467 of the Halt All Lethal Trafficking (HALT) Fentanyl Act and its failure to address expanding mandatory minimums. “...

Senator Pushes To Amend Marijuana Banking Bill To Offer Access To SBA Services As cannabis banking reform awaits further legislative action in Congress, a Democratic U.S. Senate member seeks to allow cannabis businesses to utilize the federal Small Business Administration (SBA) services,...

A measure that would streamline access to banking for cannabis businesses in Missouri got the green light from House members last week, reported Missouri Independent. The legislation under which marijuana businesses would be allowed to execute a waiver authorizing state agencies to share their...

The latest push to move cannabis from a Schedule I controlled substance comes from a bipartisan group of Delaware lawmakers, reported Delaware Public Media. State Rep. Jeffrey Spiegelman and Sen. Eric Buckson authored a letter signed by 14 other lawmakers to US Senators Chris Coons, Tom Carper...

The latest version of the SAFE Banking Act was introduced to the Senate and House on April 26th. In a cannabis market dying for any source of optimism, the introduction sparked initial sharp increases in stock prices. Some gains drifted away by Friday, partially due to Senator Schumer’s...