The members of the United States House of Representatives finally approved Marijuana banking over a voice note without any debate. There will be an upcoming roll call for the final approval on Thursday. If the bill passes, it would be a massive boon for the marijuana and psychedelics stocks.
Over the voice note, the house provided preliminary approval for the amendment, which is aimed at securing the banks that work with marijuana businesses making it legal to operate in the states throughout the union. It was adapted as a component of an “en bloc package” that had more amendments too.
While the SAFE amendment also created different chambers in different forms, this amendment passing was not a massive blow to the people of the country. The ultimate effort will be made, which will help to connect the innovation and legislation in the manufacturing of colorado through congress.
Even though the marijuana legalization proponents have been pushing the SAFE Banking Act for many years, it currently has momentum for meaningful change. The Senate has also passed another similar version of the bill in competition with China. Such legalization usually implies another round of negotiations which would finally determine the marijuana banking reforms.
However, the ultimate problem is just the Schumer that could be a hindrance to the bill. The SAFE Banking Act could have passed quickly without Schumer’s interference. Nonetheless, only time will tell now about the future of the marijuana banking bill before Perlmutter’s retirement from congress. The support is already massive for this legalization by the republicans. There are a few Republicans that have already publicly questioned why democrats have still not passed this banking reform yet. Since the momentum is gradually building, the hope of passing the bill is still very high and emerging even after the final roll call. According to different trends and reports, the final call would indeed be in favour of the maximum voters.