US Senate committee votes to advance amended marijuana…

US Senate committee votes to advance amended marijuana banking bill

Sept 27 (Reuters) – A U.S. Senate committee on Wednesday voted to advance a marijuana banking bill, raising hopes for the cash-dependent cannabis sector to get access to regular banking services.

U.S.-listed shares of Canopy Growth , Cronos Group , Aurora Cannabis , SNDL, Tilray Brands climbed between 3% and 6.5% on the voting.

The Secure and Fair Enforcement Regulation Banking Act (SAFER) was introduced by a bipartisan group of senators last week. The bill will now move to the Senate floor.

An earlier version of the bill, the SAFE Banking Act, had failed to secure a Senate vote despite the House of Representatives passing it seven times.

Most banks in the country do not service cannabis companies as marijuana remains illegal at the federal level despite several states legalizing its medicinal and recreational use. (Reporting by Arunima Kumar and Sourasis Bose in Bengaluru; Editing by Sriraj Kalluvila)

DISCLAIMER:- Denial of responsibility! is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email at The content will be deleted within 24 hours.

Read original article here

Leave a Comment