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SAFE Banking Vote: Not Before Recess

By Shadd Dales On Jul 24, 2023

SAFE Banking has been stalled for 10 years, so are we really surprised that it won’t reach senate approval once again? This Trade to Black podcast, you can probably guess the subject. Yes, it’s SAFE Banking, and lobbyists in the cannabis space have confirmed that it might not get the markup vote this year. Part of that will be due to the summer recess. The other reason? Section 10.

Anthony Varrell, millennial entrepreneur, and Benjamin A. Smith, lead financial writer, join host Shadd Dales on this podcast. We’ll be putting our heads together to discuss the latest blow to SAFE Banking, complete with our thoughts and opinions.

It appears that this delay is indeed official. The key markup vote will not transpire before summer recess, as confirmed by the cannabis lobbyists. Don Murphy’s tweet served as a wet blanket to investors hoping to see this pass. This is very disappointing to a lot of us, as there were many indications that the perception towards cannabis and SAFE Banking were improving. But now it feels like democrats might be playing games.

So, what does this mean for investors in the longer term? We’ll hash that out. The upside is that Anthony believes that the delayed vote on SAFE Banking will cause no fundamental changes to the businesses already operating in the cannabis space. We dive more into how this commotion is affecting the sector on whether or not SAFE Banking is really necessary. If it won’t bring change or huge impact to the space, what’s the better option?

We’ll talk timelines and when SAFE might come back to the senate floor, and then we’ll talk politics. Clearly a change is needed in the way we treat something like cannabis, and there’s 10 years of approval frustration dammed up in SAFE Banking. Why are we not getting the right momentum? We’ve got some speculations.

Is it time to look to psychedelics instead? We’ll explore some of the latest news there, plus we’ll check out real estate and the rising interest rates. What opportunities could be there for investors?

Find out, this podcast.

Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.