Rep. Ed Perlmutter (D-CO) reintroduced the legislation, titled the Secure and Fair Enforcement (SAFE) Banking Act. The measure cleared the House along largely bipartisan lines during the last Congress, but it did not advance in the Senate under Republican control.
With Democrats now in control of the House, Senate and White House, industry stakeholders are optimistic that the legislation stands a solid chance of becoming law this year.
A new companion Senate version of the bill is expected to be filed next week.
The bill has been slightly revised this session to expand banking protections to explicitly include hemp and CBD businesses
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.