What’s News, Breaking: Thursday, December 22, 2022
SENATE ADJOURNS WITHOUT VOTING ON SAFE BANKING ACT TO HELP FLEDGLING CANNABIS INDUSTRY
As New York City’s first legal cannabis dispensary prepares to sell marijuana next week, the U.S. Senate dealt the entire industry a setback by failing to pass the much-sought-after Safe and Fair Enforcement Banking Act before it adjourned on Wednesday. This law would have given cannabis businesses access to additional financial services, including the ability to conduct digital transactions.
The bill did not make it to a Senate vote even though the House of Representatives had already passed it April 2021 — for the fifth time.