Historic Senate Vote On Cannabis Banking Reform Expected Soon

US Senators will vote on a cannabis banking reform bill on Wednesday that will drastically change the landscape for what has become a billion-dollar industry that has never had access to banking, credit, financial institutions, or tax advantages.

This could all change if the Secure and Fair Enforcement Regulation (SAFER) bill receives the necessary 60 votes at today's Senate Banking Committee markup, which is expected to happen.

The historic SAFER banking bill, Introduced last week by a bipartisan group of senators, would provide legal protections to banks and other financial institutions that seek to provide banking services to legal cannabis businesses across the nation.

Senators however are reportedly intending to propose several amendments to the bill. Apparently there is still disagreement among members over issues such as cannabis industry access to stock exchanges, banking regulations aimed at preventing discriminatory enforcement, broad justice-focused marijuana reform and more.

As cannabis leaders in the burgeoning industry gather at the Benzinga Cannabis Capital Conference in Chicago, expect responses and movement in cannabis stocks to hit the wires as this landmark vote gets underway.

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