The Secure and Fair Enforcement (SAFE) Banking Act has another chance of passing into law in the US after the House of Representatives passed a competitiveness bill last week that it was attached to.

The Act would unlock the US financial system for cannabis companies and was previously attached to the National Defence Authorisation Act before being decoupled by a Senate committee.

Democratic Congressman Ed Perlmutter

The full House passed the America COMPETES (Creating Opportunities to Meaningfully Promote Excellence in Technology) Act of 2022 on Friday, having earlier adopted the SAFE Banking Act as an amendment to the legislation.

However, it remains unclear whether the amendment will pass when a House-Senate conference committee works to resolve the differences between the House version of COMPETES and a version already passed by the Senate.

Should it be dropped again, Colorado Democrat and SAFE Banking Act champion Ed Perlmutter told reporters there were other forthcoming bills that it could be attached to.

“I’m dedicated to getting this done,” he added.

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Prior to launching Cannabiz, Martin was co-founder and CEO of Asia-Pac’s leading B2B media and marketing information brand Mumbrella, overseeing its sale to Diversified Communications in 2017. A journalist...