Federal and state regulators this week clarified rules around banking for hemp-related businesses, paving the way for more financial institutions to back growers and cultivators without filing burdensome paperwork.
American financial institutions could be waiting for the U.S. Senate to pass its version of the Secure and Fair Enforcement (SAFE) Banking Act of 2019 before offering services to more cannabis businesses, recent federal data indicates.
Popular payments firm Square, Inc. has opened up its platform to U.S. companies making CBD products, the San Francisco-based company announced Thursday. The launch builds on a beta test of the service that was offered to select companies in May.
In a historic display of bipartisanship, Democrats and Republicans in the U.S. House of Representatives came together on Wednesday to pass the Secure and Fair Enforcement (SAFE) Banking Act of 2019 by a vote of 321-103.