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Wednesday, May 31, 2023

Marijuana advocates, industry groups react to reformulation of bank marijuana bill, as key senator raises early concerns

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Bipartisan marijuana bank bill Members of the House and Senate were re-drafted this week It is receiving praise from many of the major stakeholders in the marijuana industry and the financial institutions that have supported previous versions of the reform. And key advocates — including critics of the measure’s limited share provisions — offer tepid support for the revisions in the latest version, urging more work on the legislation as it progresses.

The work could also mean changes that ease concerns of Senate Banking Committee Chairman Sherrod Brown (D-OH), whose committee is expected to be the first to adopt the bill. The senator said Thursday that committee consideration has been delayed because banking industry representatives are trying to use the legislation to “weaken bank rules” and “undermine” regulations — though it’s not immediately clear what he means by that.

Nothing says a bill is as dangerous as owning it @tweet Ask your questions about the hearing date #SAFEBanking. pic.twitter.com/al1bxtgUCw

– Don Murphy (@donmurphy12a) April 27, 2023

In any case, the Safe and Fair Enforcement Act (SAFE) is one of the most widely accepted cannabis pieces of legislation this session under a divided Congress with Republicans controlling the House. And while previous versions have faced scrutiny

Read the full article at Marijuana moment

Grow guide for marijuana beginners.

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