Connect with us

Legal & Regulation

SAFE Banking Act is Senate Bound, Then Awaits President Trump’s Signature



SAFE Banking Act is Senate Bound, Then Awaits President Trump's Signature

Although the SAFE Banking Act was approved by the House, it needs to be approved by the Senate as well before it is then signed into law. If passed by the Senate and signed, the Bill would be a stand-alone cannabis bill that would provide cannabis business with access to financial services in states where the substances are legal.

According to AP News, President and CEO of the American Bankers Association Rob Nichols characterized the vote as a “significant step forward for public safety, transparency and common sense.” He added:

“By helping to provide clarity for the financial sector in those states where cannabis is legal, this bill will help banks meet the needs of their communities while reducing cash-motivated crimes, increasing the efficiency of tax collections and improving the cannabis industry’s financial accountability.”

When it comes to passing the Senate, though, there is still some uncertainty. Cannabis Investor notes that Capital Alpha Partners, and strategic policy and research forecasting firm, takes the position that the legislation has a 33% chance of passing the Senate. An analyst at the firm, Ian Katz, stated:

“We remain skeptical for now. If we see meaningful signals from the Senate in the next few weeks.”

The vote is scheduled to take place before the end of this year.

Alex Ramsteen plugs his content writing microphone in all the way from Kenya and has been a professional writer for over a handful of year nearing a decade soon. While the skill of writing is apparent naturally, TOC is delighted to leverage Alex’s strengths into an array of interests including technology, science, fitness, yoga, meditation, traveling, electronics, reading and more.

Continue Reading

Ultimate CBD Guide


ultimate-cbd-products-company-guidepopular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

TimesofCBD is the most active daily CBD news publication featuring the latest cannabis industry stories and marijuana market trends. As the leader in CBD-centric content curation, we invite all readers to come for the headlines and stay for the insights. Quality is the top priority when presenting user guides, analyzing product reviews and reporting fact-checked news announcements. All information is for educational and informational purposes only. Disclaimer.

Got news? Email

Copyright © 2020 | Latest CBD News, Cannabis Guides and Marijuana Trends
Note: Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.