On March 28 the House Financial Services Committee voted 45 to 15 in favor of the Secure and Fair Enforcement Banking Act of 2019, otherwise known as the SAFE Banking Act.
If enacted, SAFE would protect U.S. banks working with cannabis companies from criminal scrutiny by regulators.
Merida's Mitch Baruchowitz spoke with the Financial Post in the days preceding the Committee's vote. Canada's current advantage in accessing cheap capital, he suggested, is likely to change overnight once its American counterparts finally have access to major lines of financing, enabling them grow quickly and fully leverage domestic demand for cannabis.
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