Ed Perlmutter: ‘SAFE Banking Act Will Get Done’ Despite Ongoing Challenges In Congress
At the recent Benzinga Cannabis Capital Conference, former U.S. Representative Ed Perlmutter shared his perspective on the ongoing push for cannabis banking reform, mainly through the SAFE Banking Act.
A long-time advocate of the act during his time in Congress, Perlmutter discussed the progress made so far and the obstacles that still stand in the way of passing meaningful federal cannabis legislation.
Federal Law Remains A Barrier
When asked about the biggest hurdle facing cannabis banking reform, Perlmutter pointed directly to federal law. “The biggest issue is just federal law controls banking, period,” he said.
While some have suggested creating state-level banking solutions, Perlmutter emphasized that everything ultimately goes through the Federal Reserve, which is governed by federal law.
“So the federal law has to be changed,” he added, underscoring the critical nature of federal action for making lasting progress in cannabis banking.
Persistent Advocacy for Reform
Despite the long battle for reform, Perlmutter remains cautiously optimistic about the future of the SAFE Banking Act. He believes the …