SAFE Banking May Finally Have Path Through Senate
September 12, 2023The SAFE Act may finally have a path through the Senate, according to recent comments from Senate banking chair Sherrod Brown. The Ohio senator told Politico that lawmakers are closing in on a bipartisan agreement to move ahead with the legislation, which would open financial services and outside investment to the industry. The SAFE Act is one of the key developments that would transform the U.S. cannabis industry, which faces continued problems from spotty banking access, reliance on cash, and capital starvation.
“We think there is an agreement imminent that there’ll be general agreement on,” the Ohio Democrat said. “We know that some members of the committee are going to vote no regardless, but we think there’ll be something good that gets a good majority.”—Danny Sullivan
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