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“After years of bringing up this issue, I’m thrilled to see overwhelming support for this bipartisan, commonsense legislation in the U.S. House once again. I feel optimistic about the path forward for the SAFE Banking Act and, more broadly, reforms to our federal cannabis laws,” said Rep. Ed Perlmutter (D-CO). (Credit: Yarygin/Shutterstock.com) “After years of bringing up this issue, I’m thrilled to see overwhelming support for this bipartisan, commonsense legislation in the U.S. House once again. I feel optimistic about the path forward for the SAFE Banking Act and, more broadly, reforms to our federal cannabis laws,” said Rep. Ed Perlmutter (D-Colo.). (Credit: Yarygin/Shutterstock.com)

The Secure and Fair Enforcement (SAFE) Banking Act, which allows marijuana-related businesses in states with some form of legalized marijuana and strict regulatory structures to access the banking system, has been passed by the U.S. House of Representatives in a 321-101 vote.

The bill moves on to the Senate, which is also considering a new version of the Clarity Law Around Insurance of Marijuana Act.

Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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