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Same Old Banana in the Tailpipe for the SAFER Banking Act

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SAFER Banking Act needs republicans

Democratic Senate Majority Leader Chuck Schumer is actively working to secure Republican support for the long-awaited marijuana banking reform bill. Schumer has invested considerable political capital in advancing the SAFER Banking Act.

 

The proposed legislation, if enacted, would prevent federal regulators from penalizing financial institutions for providing essential services like bank accounts, payroll services, and credit card transaction processing to marijuana businesses that are legal at the state level.

 

The SAFER Banking Act underwent two Senate hearings this year, with approval during a significant markup hearing in September. However, before Schumer can bring the bill to a floor vote, he seeks the backing of “10 or 11 Republican” senators, as he shared with Yahoo News. Achieving 60 votes is crucial to overcoming Senate cloture rules and passing the legislation in the upper chamber of Congress.

 

Presently, the SAFER Banking Act has four Republican co-sponsors. Given the Senate’s composition of 51 Democrats and 49 Republicans, bipartisan agreement is essential for progress. The absence of such agreement failed a bill allowing the Department of Veterans Affairs to explore cannabis as a treatment for chronic pain and post-traumatic stress disorder, garnering only 57 votes in April.

 

Despite the prior stalling of cannabis banking measures in the Senate after multiple House approvals, this year’s committee hearings signify a potential shift. Nonetheless, with Republicans controlling the House, passage in the Senate does not guarantee overall approval by Congress or the signature of President Joe Biden.

 

Publicly expressed opposition from several Republican lawmakers centers on specific grievances with the current bill language. They argue that certain provisions from the Obama era unfairly target non-marijuana industries, including firearm merchants.

 

The Journey of the SAFER Banking Act

 

The SAFER Banking Act’s legislative odyssey has been marked by setbacks and recent strides, shedding light on the complexities surrounding marijuana banking reform. Despite gaining approval during significant Senate hearings this year, the bill’s history reveals a stalling pattern in the Senate following seven successful passages in the House of Representatives.

 

The bill began with the House’s repeated endorsement, underscoring the widespread acknowledgment of the need for comprehensive marijuana banking reform. However, each time the bill reached the Senate, it faced obstacles that prevented its passage into law. This historical context adds weight to the current efforts spearheaded by Democratic Senate Majority Leader Chuck Schumer, who is determined to break the cycle and usher in a new era for marijuana-related financial services.

 

This year’s committee hearings represent a turning point, providing a platform for comprehensive discussions on the SAFER Banking Act. The September markup hearing, in particular, symbolizes progress, signaling that the Senate is giving due attention to the bill’s potential impact on the financial landscape. This shift in momentum offers a glimmer of hope for advocates of marijuana banking reform, although challenges persist in securing the bipartisan support necessary for the bill’s success.

 

As the SAFER Banking Act stands at the cusp of potential advancement, its historical journey serves as a backdrop, emphasizing the resilience required to navigate the intricate legislative process and the evolving attitudes toward marijuana-related financial policies. The next crucial steps hinge on the ability to learn from past challenges and build a bipartisan consensus that paves the way for meaningful reform in the banking sector for state-legal marijuana businesses.

 

Quotes and Insights on the Path Forward

 

Senator Chuck Schumer’s commitment to advancing the SAFER Banking Act is underscored by his unwavering optimism for the bill’s future. In navigating the intricacies of bipartisan cooperation, Schumer has provided key insights into his strategic approach and the transformative potential he envisions for marijuana banking reform.

 

Expressing confidence in the importance of collaboration across party lines, Schumer has emphasized the necessity of gaining support from “10 or 11 Republican” senators to secure the 60 votes required for Senate cloture. His belief in the bill’s ability to address crucial issues faced by state-legal marijuana businesses is evident in his persistent efforts to rally bipartisan backing.

 

In a statement to Yahoo News, Schumer highlighted the significance of the SAFER Banking Act, particularly in shielding financial institutions from federal penalties when offering essential services to marijuana-related businesses. His vision extends beyond partisan divides, focusing on the positive impact that the legislation could have on both the financial sector and the broader cannabis industry.

 

As Schumer steers the bill toward a floor vote, his quotes reflect the challenges faced and the potential for historic change in marijuana banking policies. His optimism serves as a rallying cry for supporters, signaling a determination to overcome obstacles and deliver on the promise of reform. According to Schumer, the success of the SAFER Banking Act hinges on the ability to forge bipartisan consensus, and his strategic vision provides a roadmap for navigating the path forward.

 

Examining the Criticisms of the SAFER Banking Act

 

The road to bipartisan support for the SAFER Banking Act faces notable hurdles, primarily from specific objections from some Republican lawmakers. A focal point of contention revolves around grievances concerning certain provisions within the bill, particularly those dating back to the Obama era. Critics argue that these provisions unfairly target industries beyond the realm of marijuana, with specific concerns directed at firearm merchants.

 

Publicly expressed opposition from these Republican lawmakers underscores a broader challenge in gaining unified support for marijuana banking reform. The critique revolves around the perceived punitive impact of the bill’s language on non-marijuana industries, raising questions about the scope and unintended consequences of the proposed legislation. This internal dissent within the Republican ranks adds complexity to the delicate balance required to achieve bipartisan backing.

 

Despite the opposition, examining Republican concerns provides valuable insights into the nuanced debate surrounding the SAFER Banking Act. Balancing the interests of different industries within the context of marijuana banking reform remains a critical challenge, highlighting the need for careful negotiation and potential amendments to address the specific grievances raised. As the legislative process unfolds, finding common ground that addresses both the concerns of Republican detractors and the bill’s objectives will be pivotal for the SAFER Banking Act’s advancement in Congress.

 

Bottom Line

 

The SAFER Banking Act’s journey reflects historical challenges and present-day optimism, encapsulated by Chuck Schumer’s determined efforts to secure bipartisan support. Recent progress in committee hearings signals a potential shift. Yet, the delicate dance of overcoming Republican opposition, particularly regarding specific grievances with the bill’s language, adds complexity to the path forward. Schumer’s strategic vision and emphasis on collaboration underscore the transformative potential of marijuana banking reform. As the SAFER Banking Act teeters on the cusp of advancement, the bottom line is clear—a nuanced, bipartisan approach is essential to balance industry concerns and legislative goals, ultimately determining the fate of this critical reform in the realm of state-legal marijuana businesses.

 

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What if the World’s Biggest Tobacco Company Entered the Cannabis Industry?

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The World’s Biggest Tobacco Company Is Quietly Entering The Weed Industry

What Does This Mean For The Future Of Weed?

 

From the 1950’s to the 1990’s, cigarettes were considered to be a ‘cool’ habit and somewhat of a fashion accessory globally.

 

There was even a time when Hollywood celebrities were photographed smoking, which made them seem like the epitome of sophistication. Big names including Humphrey Bogart and James Dean were pictured smoking, but it was also so common and accepted around the world. That did not last long, as eventually evidence that cigarettes killed people from cancer and other fatal health conditions became impossible to ignore.


While there were many names in Big Tobacco that helped popularize the consumption of cigarettes, and made it easy for people to get access to it, Philip Morris International (PMI) were one of the biggest players – and they still are, to this day. They own some of the most common cigarette brands that are consumed around the world, including Marlboro, Chesterfield, and L&M. Surely, one can blame PMI’s products for tempting people to make poor health choices that may have taken them to the grave…

 

According to the World Health Organization, tobacco smoking is responsible for the deaths of around 8 million people globally.


Yet, with the rise of cannabis, PMI wanted a piece of the pie.

 

The History Of Philip Morris’ Interests In Cannabis


If you’re only hearing about Big Tobacco’s interest in cannabis right now, you might be shocked to learn that their interest in weed goes as far back as 1969. There are some internal documents that prove PMI was interested in learning about the potential of cannabis. However, they were considering weed a competitor as well as a potential product.

In fact, a 1970 memo even shows that PMI acknowledges the possibility of marijuana legalization.


Fast forward to 2016, when PMI made a significant investment worth $20 million to an Israeli biotech firm specializing in medical cannabis, called Syqe Medical. At the time, Syqe was working on developing a medical marijuana inhaler which would provide metered dosing of weed for medical patients. According to the deal, Syqe Medical will also work on developing certain technologies that would enable Philip Morris to minimize the health effects caused by smoking.

 

By 2023, Philip Morris made a deal to acquire Syqe Medical for a cool $650 million, as long as there were certain conditions met. In a report by Calcalist, the deal features a number of milestones, though the bottom line is that if the inhaler developed by Syqe passes the clinical trials, PMI will then go ahead to buy all shares of the company for the aforementioned amount.

 

Another Silent Move Into The Weed Space

 

More recently, in January 2025, a press release was published detailing Vectura Fertin Pharma’s (VFP), a subsidiary of Philip Morris International, joint venture with a Canadian biotech firm focusing on cannabinoid-based drugs – Avicanna.

 

According to the press release, the joint venture seeks to promote cannabis accessibility and research. Avicanna already has a stronghold in the wellness sector. However, the press release hardly makes any other mention about the involvement of Philip Morris International, but it’s clear that Big Tobacco has long had their eye in the cannabis industry. Back in 2016, when they first got involved with Syqe Medical, it highlighted the firm’s interest in wellness, but the partnership with Avicanna cements that.

 

Changes In Consumer Perception And Habits

 

It only makes sense for Big Tobacco to pivot to cannabis – or wellness, in general. After all, if you can’t beat em, join em!


And it’s clear: for several years now, there has been a decrease in cigarette smoking; young adults are now shifting from tobacco, as well as alcohol, and increasing their cannabis consumption instead.

 

And Philip Morris isn’t the only player in Big Tobacco who’s expressed an interest in a slice of the (weed) pie. Back in 2017, American holding company Altria Group began moving away from cigarettes, with their $1.8 billion investment into the Cronos Group, a large Canadian cannabis company. Altria owns several big American companies including Philip Morris; so much so, that even their website now declares the tagline: “Moving Beyond Smoking”.

 

However, Altria faced issues due to regulatory concerns.

 

British American Tobacco (BAT) has also been interested in cannabis. For some time now, they’ve been researching weed products, particularly infusing CBD and THC into their electronic cigarettes which are sold under the Vuse and Vype brand names. In 2021, BAT began a trial launch of CBD products in the United Kingdom.


RJ Reynolds, which is also now under British American Tobacco, has also considered joining the weed industry. According to internal documents, RJ Reynolds has considered cannabis both an opportunity and a competitor as far back as the 1970s.

 

Conclusion


At the end of the day, cannabis isn’t a real threat to the tobacco industry. The tobacco industry simply shot itself on the foot – all it needed was time, to prove that it does indeed cause cancer and kill people. On the other hand, cannabis was a friend more than a foe: legalization and a growing consumption of weed proved its ability to save lives.

 

That said, the relationship between tobacco and weed continues to evolve. Through cannabis legalization, Big Tobacco can learn from the challenges and opportunities that cannabis had to go through. It can be said that one thing is clear, though: the drop in tobacco consumption is a major opportunity for cannabis, with more people looking to substitute tobacco with a healthier alternative.

As a response, we may continue to see tobacco companies investing in Big Cannabis – just as we’ve seen in the examples mentioned above. This partnership is fantastic news for both industries, and we can only hope to see more!  

 

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Who are the Next 5 States to Legalize Recreational or Medical Cannabis Starting in 2025?

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As the landscape of marijuana legalization continues to evolve across the United States, 2025 is shaping up to be a pivotal year for states considering reforms. Advocacy groups are closely monitoring legislative developments and public sentiment, identifying specific states that are likely to make significant strides toward legalization. This article explores the states most likely to legalize marijuana in 2025, examining the political climate, public opinion, and advocacy efforts that may influence these changes.

 

The Current State of Marijuana Legalization in the U.S.

 

As of 2023, a growing number of states have legalized marijuana for both medical and recreational use. According to the National Conference of State Legislatures (NCSL), 21 states and Washington D.C. have legalized recreational marijuana, while 37 states allow medical marijuana use. This rapid expansion reflects changing public attitudes toward cannabis, which have shifted dramatically over the past two decades.

 

Public Opinion Trends

 

Public support for marijuana legalization has reached unprecedented levels. A Gallup poll conducted in late 2022 found that 68% of Americans support legalizing marijuana, a significant increase from just 25% in 1995. This shift in public opinion is crucial for lawmakers as they consider new legislation. Advocacy groups are leveraging this support to push for reforms in states where legalization has yet to occur.

 

 The Role of Advocacy Groups

 

Organizations such as the National Organization for the Reform of Marijuana Laws (NORML) and the Marijuana Policy Project (MPP) play a vital role in advocating for legalization. They provide research, mobilize grassroots campaigns, and lobby lawmakers to promote cannabis reform. Their insights into which states are most likely to legalize in 2025 are based on legislative trends, political dynamics, and public sentiment.

 

Key States Likely to Legalize Marijuana in 2025

 

Pennsylvania has emerged as a strong contender for marijuana legalization in 2025. The state has a robust medical marijuana program established in 2016 that has seen significant success, with over 600,000 registered patients. However, advocates argue that the time has come to expand access to adult-use cannabis.

 

Political Support

 

The recent election of Governor Josh Shapiro has energized legalization efforts. Shapiro has expressed support for legalizing recreational marijuana and has indicated a willingness to work with lawmakers across party lines. In early 2025, a bipartisan bill is expected to be introduced that aims to create a regulated market for adult-use cannabis.

 

 Advocacy Efforts

 

Advocacy groups are actively mobilizing support among residents and lawmakers alike. Campaigns highlighting the potential economic benefits—such as job creation and tax revenue—are gaining traction. Additionally, public polls indicate strong support among Pennsylvanians for legalization, further bolstering advocacy efforts.

 

Hawaii has long been known for its progressive stance on cannabis; it was one of the first states to legalize medical marijuana in 2000. However, efforts to legalize recreational use have stalled in previous legislative sessions.

 

 Current Developments

 

In 2025, advocates are optimistic about renewed efforts to pass comprehensive cannabis legislation. The Senate previously approved a bill aimed at legalizing recreational use, but it failed in the House due to opposition from conservative lawmakers.

 

 Political Dynamics

The political landscape appears more favorable this year with new leadership in the House that may be more open to discussing cannabis reform. Governor Josh Green has also expressed support for legalization, emphasizing its potential economic benefits for Hawaii’s tourism-driven economy.

 

 Advocacy Strategies

 

Advocacy groups are focusing on grassroots campaigns and community engagement to build momentum for legalization. Public forums and educational events aim to inform residents about the benefits of legalization while addressing concerns regarding regulation and safety.

 

South Carolina has made strides toward medical marijuana legalization but remains one of the few states without comprehensive access to cannabis products. In recent years, lawmakers have introduced several bills aimed at establishing a medical program; however, these efforts have faced significant hurdles.

 

 Legislative Prospects for 2025

 

In 2025, advocates are hopeful that a revived medical marijuana proposal will gain traction. The proposed legislation would allow patients with qualifying conditions access through licensed pharmacies under strict regulations.

 

 Political Climate

 

The political climate remains challenging, with resistance from conservative factions within the legislature. However, increasing public support—evidenced by recent polls showing over 70% approval for medical cannabis—may sway some lawmakers toward supporting reform.

 

 Advocacy Efforts

 

Advocacy organizations like SC Compassionate Care are working tirelessly to educate the public and legislators about the benefits of medical marijuana. They emphasize patient stories and health outcomes as part of their strategy to garner support.

 

Kansas is one of the few remaining states without any form of legalized marijuana use. Despite this restrictive environment, there is a growing movement advocating for medical cannabis legislation.

 

 Legislative Opportunities

 

In 2025, advocates believe there is a significant opportunity for progress on medical marijuana legislation. Several bills have been introduced in previous sessions that gained some bipartisan support but ultimately failed due to opposition from key lawmakers.

 

 Public Sentiment

 

Public opinion in Kansas is shifting; recent surveys indicate that nearly 60% of residents support legalizing medical marijuana. This growing acceptance may influence legislators who have previously opposed reform.

 

 Advocacy Strategies

 

Groups like Kansas Cannabis Coalition are actively campaigning for change by organizing rallies and educational events throughout the state. They aim to raise awareness about the therapeutic benefits of cannabis while pushing for legislative action.

 

North Carolina has been making headlines regarding potential cannabis reform. While it currently allows limited use of CBD oil for certain medical conditions, comprehensive medical or recreational legalization remains elusive.

 

 Political Dynamics

 

In recent years, there have been increased discussions among lawmakers about introducing medical marijuana legislation. The current governor supports reform efforts; however, opposition from conservative members poses challenges.

 

 Advocacy Efforts

 

Advocacy groups such as NC NORML are working diligently to build grassroots support for legalization initiatives. They focus on educating citizens about cannabis benefits while lobbying legislators directly.

 

Wisconsin’s approach toward cannabis remains conservative compared to neighboring states like Illinois and Michigan. While some local municipalities have decriminalized possession or implemented medicinal programs at their discretion, comprehensive statewide reform is still lacking.

 

 Legislative Prospects

Advocates believe that changing political dynamics could lead Wisconsin toward more progressive policies regarding both medical and adult-use legalization by 2025. Recent elections have resulted in a more favorable balance within state government regarding cannabis issues.

 

Public Support

 

Public opinion polls indicate strong support among Wisconsinites—over 60% favoring legalization efforts—creating an opportunity for advocates seeking legislative change.

 

Advocacy Strategies

 

Organizations like Wisconsin NORML are mobilizing citizens through educational campaigns aimed at dispelling myths surrounding cannabis while promoting its economic benefits through taxation and job creation associated with regulated markets.

 

New Hampshire has long been considered an outlier among New England states regarding cannabis laws; it legalized medical marijuana back in 2013 but has yet to pass adult-use legislation despite numerous attempts over recent years.

 

Current Developments

 

In early 2025, advocates anticipate renewed efforts aimed at legalizing recreational use through proposed bills introduced during legislative sessions scheduled throughout spring months ahead.

 

 Political Climate

 

While there is bipartisan interest among some legislators regarding potential reforms related specifically towards taxation structures associated with regulated markets—opposition remains strong from conservative factions within government bodies overall limiting chances significantly unless public pressure mounts significantly enough leading into future elections cycles ahead!

 

Virginia made headlines when it legalized recreational cannabis possession starting July 1st ,2021—but sales remain unregulated until further action occurs within state government bodies responsible overseeing these matters moving forward!

 

Legislative Prospects

 

Advocates believe that enhancing existing laws by adding regulated sales will be crucial steps towards creating an effective market structure benefiting consumers while generating tax revenue needed fund essential services statewide!

 

 Conclusion

 

As we look ahead into 2025—the landscape surrounding marijuana legalization continues evolving rapidly across various states nationwide! With growing public support coupled alongside advocacy group efforts pushing forward reforms—it’s clear many opportunities exist within multiple jurisdictions ripe opportunities await those willing engage actively participate shaping future policies governing this vital industry.

 

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Emotional Regulation Get Easier with Cannabis?

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Emotional regulation refers to an individual’s ability to manage to various emotional stimuli in an appropriate manner.

When one is able to regulate their emotions, it means that they are able to withhold intense and extreme emotions, even when the situation normally calls for it. As a result, they are able to express their emotions in a proper way; it is controlled but not suppressed, it’s mindful and aware. Effective emotional regulation has been linked to emotional maturity, better relationships, and an improvement in overall well-being.


However, using certain drugs as well as alcohol have proven to negatively impact one’s ability to regulate their emotions. This is because drugs engage with the neurotransmitters in the brain, including those responsible for the production of serotonin and dopamine, which are necessary for healthy emotional regulation. When we consume central nervous system depressants such as alcohol, as well as stimulants in drugs, these severely impede our serotonin levels which can cause depression and other mental health issues. In addition, drugs have been found to affect emotional dysregulation and dependence.


But not cannabis.

 

According to the results of a clinical study conducted by researchers at the Oregon State University and Washington State University, inhaling weed containing over 20% THC was not found to have any impact on emotional regulation.

For the study, investigators analyzed the effects of weed smoking on 12 adults; all the participants already had experience smoking weed in the past and even used their own cannabis supply. The researchers then analyzed the mood and emotional regulation capabilities of the participants during times of sobriety as well as when they were stoned from weed. Surprisingly, they found that the subjects’ performance didn’t differ when made to undergo several tasks after smoking weed.


“There was no evidence that acute high-potency cannabis use affected participants’ implicit or explicit emotional regulation,” they said. The researchers also noted that the participants acknowledged there was an improvement in their mood and anxiety reduction after using weed.


“The current pilot study assessed whether being under the influence of high-potency cannabis flower affects emotion regulation among a sample of young adults who use cannabis regularly,” they concluded. “While participants reported more positive mood and decreases in anxiety while intoxicated, there was no evidence to suggest that intoxication from high-potency cannabis flower affected emotion regulation,” the researchers wrote.

 

How Else Can Cannabis Benefit Emotional Health?

 

Thousands of people rely on cannabis for its benefits on their emotional and mental well-being. In fact, most cannabis consumers have a positive association with cannabis and emotions, since it can effectively help them reduce encounters of negative emotions in general. For example, instead of ruminating in stress and worry, people can medicate with weed at the end of the day. This not only aids in relaxation, but also offers a natural, safe outlet for coping with the stresses of everyday life.


In the same vein, this is also why more individuals, particularly those in high-stress positions such as parents, CEO’s, and entrepreneurs, have made microdosing or getting high a part of their daily life. No longer is alcohol seen as the only way to cope: weed is in, and it’s a much healthier way of dealing with life.

 

While this may be something that science can’t explain just yet, cannabis does have the unique ability to slow down one’s racing thoughts and the endless mental chatter, while helping make it easier to focus on the present. For this reason and more, weed has already been widely integrated into many wellness retreats in legal cities. Weed, mindfulness, and yoga simply go together so well, enhancing the peaceful effects of one another. Cannabis consumers can also enjoy a great deal of relaxing activities with a heightened sense of enjoyment, effectively helping one forget about their negative emotions such as anger, stress, and frustration.

So the next time you’re feeling extremely irritable or pissed off, why not pop a gummy or have a toke, and spend some time outside. You’ll see how difficult it can be to stay mad.

 

What You Take Matters

 

For those who want to use cannabis to improve their emotional regulation, what you take – and how much of it – matters just as much too.


That’s why there are many more studies suggesting that low-dose THC is best especially for anxiety and stress. On the other hand, high doses of THC can be detrimental for your mental and emotional well-being.

 

According to a 2017 study conducted by researchers at the University of Illinois at Chicago and the University of Chicago: “We found that THC at low doses reduced stress, while higher doses had the opposite effect, underscoring the importance of dose when it comes to THC and its effects,” they said. The same is also true for psychedelics, which can partly explain the popularity of microdosing psychedelics. Meanwhile, anything that can you too high can in fact, cause intense anxiety and stress.

 

Conclusion


It can feel almost impossible to avoid stressful situations that can cause you to feel out of whack, emotionally. In fact, stress is just a normal part of life. But losing your temper, ruminating in negative emotions for hours, and being so upset that it affects other aspects of your life, is not normal.


That said, there are a variety of ways you can deal with stress and the negative emotions it brings. Cannabis can be a key ingredient for helping you restore balance in your emotions as well as mental health.

 

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