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ARTICLE · 09 OCTOBER 2023

The Week In Weed: October 6, 2023

Seyfarth Shaw LLP
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Welcome back to The Week in Weed, your Friday look at what's happening in the world of legalized marijuana.

United StatesCannabis & Hemp
Susan Ryan
Susan Ryan
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Welcome back to The Week in Weed, your Friday look at what's happening in the world of legalized marijuana. This week, we have an update on the SAFER Banking Act. We note that New York took a step towards issuing licenses for their retail market. We look in on the status of two other states that could legalize in the future. And finally, we see our neighbors to the north thinking of changing their rules around cannabis use.

SAFER BANKING

Regular readers will doubtless recall that last week, the SAFER Banking Act emerged from a Senate committee, destined for a floor vote. The bill was amended by the committee, providing more time for the Treasury Department to issue updated banking guidance and making clear that financial transactions related to cannabis should not be considered proceeds from an unlawful activity. Majority Leader Chuck Schumer (D-NY) indicated that he would bring the bill to a floor vote soon, and attach significant social equity provisions

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