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The Cannabis Industry Just Took A Big Step Toward Normalization
A greenhouse operated by Nevada-based Flower One.
The cannabis industry took a step toward becoming a normal business sector Monday when the U.S. House of Representatives approved by a lopsided vote the Secure and Fair Enforcement Banking Act. The proposed law would allow banks and financial institutions to avoid federal sanctions or prosecution if they do business with cannabis providers. The measure, approved by a 321-101 vote, now moves on to the Senate, where a previous version stalled in 2019.
The SAFE Banking Act has become one of the industry’s most cherished goals, a measure that would allow cannabis providers to secure financing for new development, property acquisitions and operations, instead of being forced to scrape by on cash reserves. It could also provide a big boost to retail landlords, especially those with federally insured mortgages, eager to ....

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