Cannabis news re Washington tomorrow December 3rd

[vanzandt]

Pot stocks cannot truly grow until the US banking system is allowed to process money from pot sales. It is that damned simple. It must be legalized on the federal level so banks can handle the monies. Until then it is a dead end.

End of line.

There's currently over 700 banks and credit unions that do business with cannabis based operations fwiw.

FINCEN updates it quarterly.

https://www.fincen.gov/sites/defaul...2_MJ Banking Update 4th QTR FY2020_Public.pdf

And before you go off on one of your "yeah but its... blah blah blah".... we all realize that.

Of course it can't take off until the big banks can get in legally.... but that statement is silly....

Its not going to take off until its legalized nationally... PERIOD.

Your statement above about the banks is merely an offshoot of that.... that would be like saying.... 1000 acre farms will never work until we can be assured it'll rain once a week.
Well 1000 acre farms aren't gonna happen until its legalized.

 

[vanzandt]

all roads to Federal legalization will pass through Georgia.

if I were long a bunch of weed stocks, I'd certainly be keeping an eye on this:

fwiw

 

[vanzandt]

if I were long a bunch of weed stocks, I'd certainly be keeping an eye on this:

View attachment 246544

fwiw

Mitch McConnell To Kill House Passed Marijuana Decriminalization Bill

Mitch McConnell has already promised to kill the House-passed marijuana decriminalization bill in the Senate.

The New York Times reported, “The legislation is, for now, almost certainly doomed in the Republican-led Senate, where that party’s leaders have derided it as a superficial distraction from the work of passing coronavirus relief, as lawmakers inched toward bipartisan compromise after spending months locked in an impasse.”

It is historic and significant that the House passed a bill to decriminalize marijuana federally, but in terms of actual policy, no decriminalization will occur until Republicans are no longer in control of the Senate.

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