On this Trade to Black Podcast, Shadd Dales continues coverage at the Benzinga Cannabis Capital Conference in Chicago by interviewing Curaleaf Holdings (CNSX: CURA) (OTCMKTS: CURLF) Executive Chairman, Boris Jordan. Fresh from our previous interview six weeks ago, Mr. Jordan provides further insight on the state of U.S. cannabis markets and short term landscape on potential regulatory reform.
Regarding the latter, Boris Jordan is not backing down from recent public assertions that legislative movement is likely forthcoming in the lame duck session of Congress. In fact, Mr. Jordan tells Shadd Dales that SAFE Banking is “the closest we’ve ever been” to passing:
My whole team is in Washington D.C as we speak. We’re getting fresh feedback every hour. So they’re meeting this week—today, tomorrow with staffers from (Corey) Booker’s office and with (Chuck) Schumer’s office. So we should have some more progress. But I want to repeat what I said earlier: I think we’re the closest we’ve ever been to getting SAFE (Banking) passed. SAFE plus HOPE (Act) is what I think it’s going to be...Curaleaf Executive Chairman, Boris Jordan
SAFE Banking is a bill that generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business. Prohibited penalties include terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate cannabis-related businesses.
Additionally, proceeds from a transaction involving activities of a legitimate cannabis-related business are not considered proceeds from unlawful activity. Proceeds from unlawful activity are subject to anti-money laundering laws.
Furthermore, a depository institution is not, under federal law, liable or subject to asset forfeiture for providing a loan or other financial services to a legitimate cannabis-related business.
Click on the embedded link to view more of our latest interview with Curaleaf Executive Chairman, Boris Jordan.
To view our previous Trade To Black Podcast, click here.