![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, March 17, 2021 2:12:08 PM
Pending legislation in Congress could benefit cannabis multi-state operators
Mar. 17, 2021 9:52 AM By: Jonathan M Block, SA News Editor
Within the next two weeks, it is likely the SAFE (Safe and Fair Enforcement) Banking Act will be reintroduced in the House of Representatives, a piece of legislation that can benefit multi-state operators (MSOs), BTIG says in a note.
Based on discussions with contacts in Washington, the firm says that reintroducing the legislation prior to April 1 means it will likely bypass committee hearings, speeding up a vote on the measure.
Because it has bipartisan support, BTIG believes the SAFE Banking Act can potentially pass both chambers of Congress by late summer.
The legislation potentially benefits MSOs in several ways, according to BTIG: the ability to deposit cash in U.S. banks; the ability to transact in credit cards instead of just cash which can translate to higher spending; increased public safety; and increased public health it would reduce the exchange of dirty cash.
"Separately, the MORE [Marijuana Opportunity Reinvestment and Expungement] Act could also get reintroduced by April 1st, but would likely have a much more difficult path to passing in the Senate," according to the note.
U.S. multi-state operators this morning: MedMen Enterprises (OTCQB:MMNFF) -4.7%; Curaleaf Holdings (OTCPK:CURLF) -0.9%; Acreage Holdings (OTCQX:ACRHF) unchanged; Harvest Health & Recreation (OTCQX:HRVSF) +1.2%; Cresco Labs (OTCQX:CRLBF) -0.6%; Green Thumb Industries (OTCQX:GTBIF) -1%.
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM