Author Topic: Cannabis stocks rally premarket after House passes SAFE Banking Act  (Read 234 times)

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Online catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
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https://www.marketwatch.com/story/cannabis-stocks-rally-premarket-after-house-passes-safe-banking-act-2021-04-20?mod=mw_latestnews

<snipit>
Cannabis stocks rallied across the board in premarket trade Tuesday, with the Cannabis, after theHouse voted 321 to 101 in favor of a bill that would protect banks that do business with companies in states that have legalized the plant for medicinal or recreational purposes from federal enforcement action. The so-called SAFE Banking Act -- SAFE stands for Secure and Fair Enforcement -- aims to open up the federally insured banking system to cannabis companies, that have been starved of capital and forced to do much of their business in cash. The bill would exempt cannabis business transactions from being considered proceeds from illegal activity and subject to anti-money-laundering laws. It would also prohibit banking regulators from asking banks to terminate a customer account unless there was a valid reason aside from reputation risk.

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Today's 420 article is dedicated to Corbe, and provides another example of how our society is rapidly moving toward toleration of  cannabis use as another mainstream vice.  There is a lot of varying opinion of the merits of whether this is a good thing or not, but I'll venture this stuff will be pretty much fully legal for use within 10 years.

What congress did here, was a huge step in blending the cannabis industry into the financiall world.
« Last Edit: April 20, 2021, 12:34:26 pm by catfish1957 »
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.