AYRWF - U.S. mayors organization wants Congress to pass SAFE Banking Act for cannabis businesses

The U.S. Conference of Mayors adopted a resolution calling on Congress to pass legislation that would allow legal cannabis companies to do business with U.S. financial insitutions, Marijuana Moment reported. The organization said that the SAFE Banking Act would provide financial security for cannabis dispensaries as well as enhance public safety. Because marijuana is still considered illegal under federal law, cannabis businesses that are legal under state laws must conduct transactions in cash. This has led to robberies of some dispensaries. The organizations also said it supports measures to legalize marijuana on the federal level, including the Marijuana Opportunity Reinvestment and Expungement (MORE) Act and the Cannabis Administration and Opportunity Act (CAOA). Cannabis multi-state operators: Cresco Labs (OTCQX:CRLBF); Columbia Care (OTCQX:CCHWF); Trulieve Cannabis (OTCQX:TCNNF); Green Thumb Industries (OTCQX:GTBIF); Curaleaf Holdings (OTCPK:CURLF); MedMen Enterprises (OTCQB:MMNFF); Acreage Holdings (OTCQX); Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF); and Jushi Holdings (OTCQX:JUSHF). The SAFE Banking

For further details see:

U.S. mayors organization wants Congress to pass SAFE Banking Act for cannabis businesses