Senate Banking Committee looks likely to advance SAFE Banking Act, but other hurdles remain, including in the GOP-run House.
Cannabis stocks have scored a boost from optimism around Thursday’s hearing on a bill that would protect banks that work with the industry, but some analysts are downbeat on the SAFE Banking Act’s chances of becoming law.
“We believe the cannabis banking effort faces an uphill climb in this Congress, but there will be mile markers on the road ahead that could make us more optimistic,” said BTIG’s Isaac Boltansky and Isabel Bandoroff in a note.
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