Cannabis Stocks In 2023: The Impact Of The SAFE Banking Act Failure

Key takeaways The SAFE Banking Act is a bill designed to allow cannabis companies to access mainstream financial services, as it remains illegal at a Federal level The bill has so far failed to pass the Senate three times, making cash management a challenge for businesses in the cannabis industry The lack of access to banking is likely to continue to be a drag on the potential gains for cannabis stocks, but that doesn’t mean they’re not worth considering for your portfolio

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