![]() Cantor Fitzgerald analyst Pablo Zuanic met with DC lawmakers last week. After his visit, he said he believes that Congressional leaders will pass cannabis banking legislation in the period between November elections and the end of this year. Specifically, he is referring to the ‘SAFE Banking Plus’ Act, which is an updated bill that, if passed, would protect financial institutions that provide banking services to cannabis-related ventures and ancillary businesses. Zuanic spoke to investors during a zoom call on Monday morning about SAFE Banking and said, “It’s not just a jingle. It’s not a pipe dream. It’s something that’s ongoing. There are discussions at high levels in the Senate between co-sponsors of the SAFE Banking bill on the Republican side with Senate leadership.” He spoke about how he believes there is enough support from key Democrats in the Senate, and believes they really want to get this done. He added that the, “leverage may be held by Republicans.” But he does think, “ …. this will be one where there could be support from both sides of the aisle.” Zuanic also outlined how he think it will happen, saying he thinks it’s likely that a media leak will occur prior to the November elections, followed by a press conference after the election when the draft is formally filed. He then thinks a formal vote will happen later in December. Ultimately, though, Zuanic acknowledged that nothing is predictable. He said, “But obviously, you know, I want to be very clear — this is politics … It’s a legislative process. It’s complicated … In the end, maybe nothing happens” Comments are closed.
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