HHS Announcement, Followed By SAFE Prioritization, Gives Businesses And Investors Hope.
The change would loosen federal regulations that have hampered the industry for years due to marijuana’s current Schedule I status under the Controlled Substances Act.
This unprecedented development instilled confidence in investors and industry operators alike, causing cannabis stocks to skyrocket for the first time since 2021.
And just last week, this optimism was bolstered further by the announcement that the Senate may soon pass the SAFE Banking Act, which would protect institutions offering financial services to cannabis businesses from federal penalties and regulatory backlash. Without the SAFE Act, these risks that have driven companies such as Mastercard to cut ties with the industry, leaving businesses scrambling to secure basic banking and payment solutions. News that the SAFE Act will soon pass the Senate continued to fuel investors’ confidence, as stocks steadily rose into Monday morning after years of depression and decline.
Even though the DEA has yet to finalize the rescheduling decision, the HHS’s recommendation is groundbreaking and extremely promising for the future of cannabis in the United States: Vince Sliowski, Oregon-based….