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Is 2021 the year of meaningful cannabis banking reform? | Thompson Coburn LLP

Is 2021 the year of meaningful cannabis banking reform? | Thompson Coburn LLP
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SAFE Banking Act Making Headway In U S Congress | Cultiva Law, PLLC

To embed, copy and paste the code into your website or blog: What has long been a major handicap to the cannabis industry may finally be coming to an end. As federal law currently stands, financial institutions in states where marijuana is still illegal cannot provide services to cannabis-related businesses. For these banks, proceeds from cannabis-related transactions are considered proceeds from unlawful transactions, which allows the government to seize those proceeds and prosecute the banks for money laundering. However, recent legislative developments suggest that this policy may soon change. Last month, the U.S. House of Representatives passed a bill that would pave the way for banks to do business with cannabis companies without fear of prosecution or insurance limitations. The Secure and Fair Enforcement (SAFE) Banking Act, a piece of federal legislation championed by U.S. House member Ed Perlmutter, seeks to prohibit federal banking regulators from penalizing institutions t

Senators Schumer, Booker and Wyden Introduce Comprehensive Legislation to End Federal Cannabis Prohibition | Saul Ewing Arnstein & Lehr LLP

To embed, copy and paste the code into your website or blog: Long-shot bill would also allow states to set own laws, make FDA lead regulator, address impact of War on Drugs, impose excise tax, and create CBD dietary supplement pathway. More than five months after first previewing their sweeping cannabis reform proposal, Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Finance Committee Chair Ron Wyden (D-Ore.), and Senator Cory Booker (D-N.J.) finally released Wednesday a discussion draft of the Cannabis Administration and Opportunity Act (CAOA).  The comprehensive measure would, among other things: Deschedule cannabis: End the federal prohibition on cannabis by removing it from the Controlled Substances Act (CSA);

Pot Reform: A High Banking Priority - Investing Daily

Pot Reform: A High Banking Priority - Investing Daily
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Schumer Hops Aboard the Cannabis Train - Investing Daily

Schumer Hops Aboard the Cannabis Train - Investing Daily
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