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SAFER Banking Act Passes Senate Committee

Cannabis Life Network

The SAFER Banking Act has passed a critical Senate Committee hearing with a vote of 14-9. The renamed bipartisan bill would allow banks to work with cannabis businesses without penalties from the federal government. cannabis industry has long been waiting for SAFER Banking to pass the Senate.

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Cannabis Industry Sues Canadian Banks

Cannabis Life Network

The cannabis industry is suing Canadian banks. Canada’s legal cannabis industry has launched a class-action lawsuit against Canada’s large cartel of banks. They allege the banks have discriminated against them by arbitrarily closing accounts and denying services and access to credit.

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Why Is The SAFE Banking Act So Important?

MassRoots

One of the most important pieces of cannabis related legislation, the Secure and Fair Enforcement Banking Act ( SAFE Banking Act ), has the chance to be included in the next round of COVID-19 relief legislation in the United States. Tell them to support the inclusion of the SAFE Banking Act. Don’t wait.

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Don’t let the Grinch stop marijuana reform

NORML

Last Wednesday, he essentially demanded that in exchange for allowing the cannabis industry to access to basic banking services, that the federal government should impose a 2% THC cap on marijuana products and prohibit the retail sale of marijuana-infused edibles or e-liquid vapor extracts.

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Senators Wyden and McConnell Press for Hemp Industry Banking Services

Canna Law Blog

Unfortunately still the position for most banks and hemp. Shortly after the 2018 Farm Bill passed, legalizing industrial hemp, we predicted that banking services for hemp businesses would be slow going. We have consistently heard from lawful hemp producers about the lack of access to financial products. Senators, Sen.

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The Hemp Standard is 0.3% THC. That Should Be Changed.

Canna Law Blog

The international market is taking form and access to banking services is expanding. Perhaps the most dubious rule is the total THC testing standard. The USDA then adopted a total THC testing requirement by which total THC is the molar sum of delta-9 THC and delta-9 tetrahydrocannabinolic acid (“THCA”).

THC 101
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Crypto ATMs for Cannabis Retailers

Cannabis Life Network

Legal and grey-market cannabis retailers have always had an issue with banking services. Many can’t access standard banking services, like getting cash. Banks flag regular business transactions as risks when associated with cannabis. What are crypto ATMs for cannabis retailers?

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