The Arcview Group Statement on SAFE Banking Act Passing the U.S. House of Representatives
The Arcview Group, the leading investment and market research firm focused on connecting investors with opportunities, key players and indispensable insights into the cannabis sector, issued the following statement on the recent passing of the Secure And Fair Enforcement (SAFE) Banking Act by the U.S. House of Representatives. The measure would prevent federal banking regulators from charging bankers with money laundering or other financial crimes for working with cannabis-related businesses and enable businesses in the sector to finally use banks without fear of federal prosecution.
Statement from The Arcview Group CEO Troy Dayton
We are extremely encouraged by the historic cannabis reforms passed by the House. It would be a game changer for this developing industry and we are hopeful that the Senate follows suit. Legal cannabis businesses, which employ more than 165,000 people, would finally be able to operate safely, develop and grow their businesses. This step forward begins to pave the way for legal, regulated cannabis businesses to open up a plethora of opportunities, which were previously unavailable. The measure would also have a profound, positive impact on the investment landscape, patients and consumers. For years, Arcview has been working towards and supporting this moment. We applaud the progress taken by our regulators and industry and look forward to more reforms being fully enacted.
