The SAFE Banking Act and Cannabis: Will the Multi-Billion Dollar Industry Finally Get Unlocked?

With the legalization of cannabis in 21 states and the district of Columbia, the legalization movement continues gaining traction in the United States. Along with this progress, the passage of the SAFE (Secure and Fair Enforcement) Banking Act is another step towards unlocking the multi-billion dollar industry of cannabis legalization. In this blog post, we'll be looking at the timeline and importance of the SAFE Banking Act in the quest for nationwide legalization, as well as the history of the cannabis legalization movement.
What is the SAFE Banking Act?
The Secure and Fair Enforcement (SAFE) Banking Act began as a stand-alone bill and was first proposed in 2013. Most recently, the SAFE Act of 2022 has been added as an amendment to the National Defense Authorization Act. This amendment protects financial institutions that offer services to legitimate cannabis-related businesses. It aims to reverse current laws that prohibit financial institutions from providing services to cannabis-related businesses. It will allow the issuing of loans and extending credit to cannabis-related businesses that did not previously have access. It will also help ensure that those working in the cannabis industry have access to legal counsel.
The Safe Banking Act was approved by the House of Representatives in June 2022 and is now awaiting further action from the Senate. This act is an important step in the quest for nationwide legalization of Cannabis, as it would give banking access to businesses in the industry. If passed by the Senate, the bill will be sent to President Biden for approval and implementation. As the nation continues its march towards nationwide legalization, this is an important step forward in removing barriers for businesses in the cannabis industry.
Importance of the SAFE Banking Act in the quest for nationwide legalization
Cannabis has been a controversial topic for many years, but in the last few decades, a significant shift has been taking place in public opinion and acceptance. Many states have started to recognize and legalize cannabis for both medical and recreational use, and the movement continues to gain momentum. With the SAFE act one step closer to being passed, cannabis is one step closer to becoming a legal industry nationwide. This crucial step towards nationwide acceptance will allow businesses to access the banking system and allows them to process payments and access funds without fear of criminal or civil liability. This will help open up the multi-billion dollar industry and unlock its growth potential.
Canopy Growth Corporation
Canopy Growth Corporation, (Ticker: CGC,) is a Canada-based cannabis company founded by Bruce Linton and Chuck Rifici in 2013. The company was given the name Canopy Growth Corporation in 2015 and became the first federally regulated, licensed, publicly traded cannabis producer in North America.
Canada's first legal cannabis sale was made at midnight by CEO Bruce Linton in St. John's, Newfoundland. The Canopy Growth Corporation and the cannabis industry as a whole have been making waves in the stock market. Investing in Canopy Growth provides a safe way to capitalize on the opportunities presented by the SAFE Banking Act and the potential for nationwide legalization of Cannabis.
With the SAFE Banking Act approved by the House of Representatives, the timeline to move it to the Senate is looking promising. As one of the most established companies in the legal marijuana industry, Canopy Growth is perfectly positioned to take advantage of the financial opportunities that nationwide legalization would bring, making it a safe investment for those looking to cash in on this booming market.
How to Learn More
If you want to learn what other cannabis companies should be on your watchlist, the Brown Investors Cannabis Investment Guide is a must-have!
With the Brown Investors Cannabis Investment Guide, you can get up to speed on what's happening with the Safe Banking Act and gain valuable insight into which cannabis companies should be on your watchlist. Contact us to joing the membership and learn how to make informed decisions about where to invest!







