Cannabis Weekly Round-Up: US Banking Reform Gets a Boost - Investing News Network

US cannabis received a boost this week with a policy move that may hint at future changes.

Meanwhile, Amazon (NASDQ:AMZN) threw its full support behind cannabis reform in the US by way of a public post confirming the company’s acceptance of the drug.

Keep reading to find out more cannabis highlights from the past five days.

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US cannabis reform attached to defense bill

The US House of Representatives delivered promising news for cannabis reform in the nation by adding a cannabis banking amendment to the defense budget bill — if allowed, the amendment will offer protection to banks looking for cannabis business.

Known as the National Defense Authorization Act for Fiscal Year 2022, the policy must still be approved by the Senate. As with other cannabis policy victories in the House of Representatives, it is ambiguous as to how the Senate will react when the legislation comes into its hands.

Marijuana Moment states that Representative Lou Correa (D-CA) has voiced support for the measure, saying, “Cannabis customers and businesses are law-abiding citizens and entities, yet they have to pay their employees, their bills and their federal taxes with cash. It just does not make sense.”

Earlier this year, the House of Representatives again voted in favor for the SAFE Banking Act, which offers banking and business protections for the cannabis industry. However,...



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