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Marijuana Businesses Could Be Listed On Stock Exchanges

Marijuana Businesses Could Be Listed On Stock Exchanges And Access Financial Services Under New Bipartisan Bill

State-legal marijuana businesses would be able to be listed on national stock exchanges and access key financial services under a bipartisan congressional bill that was filed on Thursday.

The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act is being sponsored by Reps. Troy Carter (D-LA) and Guy Reschenthaler (R-PA).

While a main thrust of the legislation is to free up cannabis industry access to financial lending and investment opportunities, in part by providing protections for private financial institutions and government agencies that provide such services to traditional markets, one section stands out as especially novel.

It would provide safe harbor for national securities exchanges and market participants that “have listed, list, or intend to list, or permits the trading, or facilitates the offering, listing, or trading on a national securities exchange, of the securities of a cannabis-related legitimate business or a service provider.”

https://www.marijuanamoment.net/marijuana-businesses-could-be-listed-on-stock-exchanges-and-access-financial-services-under-new-bipartisan-bill/