Will cannabis banking pass, read this https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill

1. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 2/15
SAFE BANKING IN DEFENSE BILL
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2. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 3/15
So What are the Chances Cannabis
Banking Reform Passes Along with the
Defense Spending Bill?
Will the Safe Banking finally squeeze through as an add on to the Defense Spending Bill?
Posted by:
Joseph Billions , today at 12:00am
Will Cannabis Banking Reform Finally Pass Along With the
Defense Bill?
President Biden may finally pass the cannabis banking bill with the imperative 2022 defense budget.

3. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 4/15
The United States House of Representatives has approved the cannabis banking reform which was included in the large-
scale defense spending bill. This hearing took place on Thursday, last week.
Doubts abound as this is the fifth time the house is sitting on this measure and approving it. This latest breakthrough
may be pushed back by politicians who are either against federal cannabis reforms or support federal reforms but are
not in support of doing it through the defense budget medium.
The Banking Reform
The fact that banks within the U.S cannot offer conventional banking services to cannabis businesses is not hidden. For
years, banks that engage in business with cannabis companies have been normalized by federal regulating bodies. This
is all due to the federal prohibition of cannabis and its classification as a schedule 1 drug.
Cannabis businesses have had to seek loan services and banking services from international banks or other
unconventional financial companies to keep business running smoothly.
The cannabis banking reform measure was approved two days before the defense bill was passed. The approval which
came after a voice vote was conducted means that traditional banks in the country would soon be free to conduct
businesses and offer their services to cannabis companies without fear of penalties from federal regulators.
The House Rules Committee recommended the cannabis banking reform measure for floor consideration after
Representative Ed Perlmutter made an amendment. The bill is not the only drug policy proposal attached to the
National Defense Authorization Act (NDAA), however, it could play a very important role in opening the floor for
concrete cannabis reforms.
Previous Attempt to Pass the Cannabis Banking Amendment
In April this year, the U.S House of Representatives approved the cannabis banking reform — SAFE Act— by a landslide
victory of 321 to 101 votes. Since this was passed, the Senate refused to take up the bill when it was passed along to the
chamber.
To get the senate to take up the measure, the house decided to include it in the defense budget of the fiscal year 2022.

4. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 5/15
Resistance from pivotal senators
Perlmutter remains optimistic that the bill will be passed this time. He commented that the fifth time could be the
charm. He said that using the National Defense Authorization Act measure to convey the banking reform to the Senate
floor might do the trick.
The representatives still have to put in a lot of effort to secure the bill's approval in the senate. For the bill to remain
part of the defense measure, the representatives have to curry the favor of several senators. Perlmutter told an online
publication, Marijuana Moment, that he believes the bill will be able to scale through the challenges that might present
during the house and senate conference.
Pivotal senators like Senator Cory Booker and Senate Majority Leader, Chuck Schumer have shown their displeasure in
smuggling the cannabis bank reform (https://cannabis.net/blog/opinion/25-federal-marijuana-tax-not-enough-votes-
blocking-the-safe-banking-act-schumers-legalization-s) measures through the defense bill. These senators insist that the

5. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 6/15
first cannabis reform bill that should be approved federally had to be comprehensive and focused on legalizing
marijuana. They also believe that the bill must be justice-focused to make a bigger impact in the country.
The Secure and Fair Enforcement (SAFE) Banking reform bill (https://cannabis.net/blog/opinion/will-the-safe-banking-
act-create-the-biggest-stock-market-bubble-in-history)could affect the laid down structure for broader cannabis reforms
if it is passed first.
Sen Schumer and Sen Booker have been ardent supporters of cannabis reforms in the senate for several years. Their
reluctance to include the banking reform act in the NDAA bill might encourage other senators to remove it.
Schumer's spokesperson was reported to have announced that the majority leader is not opposed to moving the
banking reform bill at the same time as the main cannabis reforms Act.
Senator Booker also told Politico in plain words that cannabis banking should have no place in the defense budget
(https://cannabis.net/blog/opinion/why-sen.-booker-wants-to-legalize-cannabis-nationally) of the country. Booker and
Schumer are working tirelessly to prepare a final draft of the cannabis organization bill. The Senate Finance Committee
Chairman, Ron Wyden, is also working with these two to ensure the final bill is prepared in due time.
Booker concurred with Schumer's spokesperson and added that using the Defense budget as a vehicle to convey the
cannabis banking reform act to the president's desk will undermine the efforts of the majority to secure comprehensive
cannabis reform policies. It will also make it harder to get justice-focused cannabis reform bills that can be used to get
offender's records expunged, cleared, or reduced.
Overview of the SAFE Banking Act
The amended SAFE reform measure, if passed, will improve the security of the country's financial system. It will also
help federal regulators to keep illegal drug cartels out of the financial structure.
The bill would authorize cannabis businesses in legalized states with retail cannabis operations to pay taxes to the
federal government with a check. It would also help these businesses secure important loans, as well as use designated
debit cards for the smooth running of their operations.

6. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 7/15
Representative Perlmutter has emphasized severally the security benefits of the amended reform. He says that the
SAFE reform bill will lay down an appropriate foundation for the federal cannabis industry and thus reduce the risk of
violent crimes in America's communities.
Bottom Line
The house is making use of an old congressional trick that entails tucking in a dissimilar measure into a must-pass bill.
The odds of the state embracing the provision seems higher due to the slim control won by the Democrats in the last
general elections.
The approval of the defense budget with the cannabis banking reform included will enable state-legal cannabis
businesses to gain access to conventional financial services. These struggling businesses will have access to checking
accounts, lines of credit, and payroll accounts.
Steven Hawkins, The U.S Cannabis Council CEO, has urged lawmakers to adopt the cannabis banking measure stating
that cash transactions by these businesses are anachronistic and pose a threat to the safety of the masses.
SAFE BANKING ACT, READ UP ON IT, CHECK BELOW...
(https://cannabis.net/blog/opinion/25-federal-marijuana-tax-not-
enough-votes-blocking-the-safe-banking-act-schumers-legalization-s)

7. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 8/15
WHY THE NEW CANNABIS ADMISTRATION ACT IS A DISASTER ALERADY! (https://cannabis.net/blog/opinion/25-
federal-marijuana-tax-not-enough-votes-blocking-the-safe-banking-act-schumers-legalization-s)
OR..
(https://cannabis.net/blog/vote/the-6-senators-who-are-blocking-legal-
marijuana-for-328000000-americans)
THESE 6 SENATORS ARE BLOCKING LEGAL CANNABIS IN AMERICA! (https://cannabis.net/blog/vote/the-6-senators-
who-are-blocking-legal-marijuana-for-328000000-americans)
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8. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
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10. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
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Using cannabis as part of a comprehensive approach, including changing your diet and lifestyle, is an excellent way to manage the symptoms of Celiac disease.

11. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
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12. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
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mapping legal and illegal marijuana dealers for the world to call and go get their weed from, but the main timing of the subpoena sure looks related to their
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13. 10/8/21, 12:12 PM So What are the Chances Cannabis Banking Reform Passes Along with the Defense Spending Bill?
https://cannabis.net/blog/opinion/so-what-are-the-chances-cannabis-banking-reform-passes-along-with-the-defense-spending-bill 14/15
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