SAFE Banking Act Hits a 'Sweet Spot': This Week in Cannabis Investing

A committee vote on the SAFE Banking Act, which aims to improve cannabis companies' access to finance, is expected next week.

marijuana leaf with gavel and american flag
(Image credit: Getty Images)

The SAFE Banking Act is back in focus as senators prepare to take the next step down the long, 10-year path of cannabis federal banking reform. 

Members of the Senate Banking Committee have reportedly reworked key sections of the Secure and Fair Enforcement (SAFE) Banking Act and found a "sweet spot" that allows for a public markup of the proposed bill. More specifically, it appears that pertinent pieces of the act, such as Section 10 and capital markets, are being addressed and the door is open for the bill to leave the committee with a "strong vote."

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Morgan Paxhia
Contributing Writer

Morgan Paxhia is Managing Director and Co-Founder of Poseidon Investment Management. With over 10 years experience in investing and finance, Morgan has developed a deep understanding of individual company analysis, portfolio construction, and risk mitigation. This content is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing should be construed as a recommendation by Poseidon Investment Management, LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. This content should not be considered as an offer or solicitation to purchase or sell securities or other services. Any of the securities identified and described herein are for illustrative purposes only.  Their selection was based upon nonperformance-based objective criteria. The content presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Past performance is not indicative of future results.