House Approves Marijuana Banking Bill, Attaches It To America COMPETES Act

The amendment from sponsor Rep. Ed Perlmutter (D-CO) was preliminarily approved on Wednesday on a voice vote.

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SAFE Act Just Got Re-Added To Defense Bill As Amendment, But Could It Pass On Its Own?

Does the SAFE Banking Act have a better chance to pass as a stand alone bill?

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Though defeated in this round, the cannabis industry remains resilient in its fight for federal reforms. The removal of the SAFE Act from the defense bill is not the end of the road but rather another indication of the steep climb to federal cannabis law. Cannabis advocates and entrepreneurs need to use this opportunity to reset the conversation and seek a well-rounded bill that would ensure the capital is available to those who need it the most. Now that there is still a political advantage, advocates can point out other solutions that can be added to the bill to make the cannabis industry get access to funds at the state and local levels.