At the Benzinga Cannabis Capital Conference in Chicago, key figures in the cannabis industry engaged in discussions about the U.S. Senate Banking Committee passing the Secure and Fair Enforcement Regulation (SAFER) Banking Act — and a surprising twist involving cryptocurrency, offering valuable insights into the intricate negotiations surrounding cannabis and crypto legislation.
The SAFER Banking Act
Ed Perlmutter, a longtime advocate for cannabis reform, a former representative and now a partner at Holland & Knight, shared the significance of recent events in cannabis legislation.
The cannabis industry, operating on an all-cash basis, is now one step closer to being able to use banking and financial systems.
He discussed the urgent need to address banking challenges faced by the industry and commended the bipartisan effort behind the SAFE Banking Act.
"This has been a roadblock for years... It's in sync. And, you know, so you have some opposed, but those that want to move this thing are really doing their best to move it forward,” Perlmutter said, emphasizing the persistent efforts to overcome obstacles in cannabis banking reform.
Former Sen. Cory Gardner, who played a crucial role in ...