The Return of the SAFE Banking Act: Week in Review

Cannabtimes

<![CDATA[This week’s big news turns our attention to Washington, D.C., where U.S. Rep. Ed Perlmutter (D-CO) reintroduced the SAFE Banking Act—this time with more than 100 bipartisan cosponsors. It’s yet another opportunity for his House colleagues to approve the banking reform bill, and the 2021 outlook is slightly brighter with a thin Democratic edge in the U.S. Senate. Who knows what will happen? Democratic senators have promised “comprehensive” cannabis legislation in the coming weeks or months, so it remains to be seen how the federal government under a Biden administration will address the increasingly hard-to-ignore problem of cannabis prohibition.Of course, that’s not the only headline in cannabis this week. States around the U.S. are moving on cannabis proposals at a lively clip previously unseen in this industry. Optimism abounds, though there are many angles and causes for political debate. We’ve rounded up some of the key cannabis headlines from the week right here.Without banking reform, like the Secure And Fair Enforcement (SAFE) Banking Act, which was reintroduced by Rep. Ed. Perlmutter (D-CO) in the U.S. House of Representatives on March 18, financial institutions that work with cannabis clients have yet to receive full confidence in safe harbor at the federal level. According to Perlmutter, passage of SAFE Banking would allow cannabis-related businesses in states with some form of legalization and strict regulatory structures to access the banking system. Read more Three bills, which were passed by the Denver Finance and Governance Committee on March 16, would allow cannabis delivery, cannabis hospitality businesses and on-site smoking. They stand a good chance of passing into law. Read more At the state level in Colorado, a draft bill reveals one legislator’s 15% THC content proposal for cannabis products across the board. It’s up for debate, however, but the low-potency threshold certainly got the attention of the state’s cannabis…

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