In this ever-evolving industry, here is another sign of the times: the Bank of Montreal and Toronto-Dominion are refusing to transact banking business because of the federal U.S. prohibition on cannabis. The Canadians are forging ahead and establishing a well-regulated cannabis market well in advance of the U.S. As the government maintains a leisurely pace toward federal legalization of cannabis, we are being left behind as this industry begins to take flight elsewhere across the globe.
If the SAFE Act passes, do you think this will this help smooth the road toward regulated cannabis banking here in the U.S.? Will cannabis business owners finally be able to rest easy knowing our accounts wont be shut down? What are our thoughts on the Canadians refusing U.S. banking? What are your thoughts on the SAFE act?