Congressional lawmakers have abandoned plans to pursue a marijuana banking bill through unrelated must-pass aviation legislation, determining that it’s “insufficiently germane,” according to a top industry association that cited sources familiar with the decision.
That might come as unwelcome news for supporters, including stakeholders who were alerted to the development by an internal U.S. Cannabis Council (USCC) email on Thursday. But there are still other legislative paths for the Secure and Fair Enforcement Regulation (SAFER) Banking Act this session, including the continued possibility of advancing it as a standalone measure.
Plans to attach the cannabis bill, as well as cryptocurrency regulations legislation, to the Federal Aviation Administration (FAA) reauthorization package, however, have fallen through, USCC says.
“Our sources indicate that the SAFER Banking Act will not be included in the must-pass FAA reauthorization bill,” USCC Senior Vice President of Public Affairs David Culver said in the email obtained by Marijuana Moment. “We understand that the provision, along with other banking priorities such as stablecoin, were deemed insufficiently germane to the aviation-centric package.”
“It’s disappointing, to be sure, but there will be ample opportunities to pass SAFER in this Congress,” the email says. “Leadership will now reassess and consider whether to
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