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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 3.23 to 38.51, while the CSE Composite Index lost 3.91 to 271.01. South of the border, the U.S. House of Representatives has voted 329-101 to pass its version of the annual National Defence Authorization Act (NDAA), complete with cannabis banking legislation. The sprawling, $840-billion (U.S.) policy plan cleared by the House officially contains (among hundreds of other amendments) the language of the SAFE Banking Act.

Representative Ed Perlmutter, the main sponsor and indefatigable promoter of SAFE (which would improve the cannabis industry's access to financial institutions even while cannabis remains federally illegal), welcomed the news on Twitter. "The SAFE Banking amendment was adopted into the [fiscal 2023] NDAA!" he cheered. He noted that this marks the seventh time that the House has approved some version of SAFE. "I'm calling on the Senate to take action," he wrote. "... It's time to get this done."

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