“Cannabis-related businesses — big and small — and their employees are in desperate need of access to the banking system and access to capital in order to operate in an efficient, safe manner and compete in the growing global cannabis marketplace,” said the measure’s chief sponsor, Rep.
Federally regulated banks have been caught in the middle between U.S.
Some cannabis advocates say they do support the criminal justice provisions, but would rather see something rather than nothing.
cannabis industry is growing rapidly and already supports over 300,000 American jobs,” said Steven Hawkins, chief executive of the U.S.
The SAFE Banking Act can sound like a good idea because it has found people in positions of desperation for any sense of perceived relief or progress, Dawson said.
Many of the corporate cannabis companies operate in what’s known as limited-license states, where the amount of licenses that can be applied for in certain categories of cannabis licensure are capped.
“It’s just what we hope will happen,” Dawson said of assuming banks would open up to smaller businesses and people of color.
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