10:54:19 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-09-30 C$ 5.82
Market Cap C$ 5,938,601,654
Recent Sedar Documents

FP/wire say Canopy, rivals await U.S. pot banking bill

2019-10-01 09:17 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Tuesday, Oct. 1, edition that the advancement of the SAFE Banking Act means it will not be long before U.S. stock exchanges open up to pot listings, a potential blow to Canadian bourses that have carved a lucrative niche for weed. A Bloomberg dispatch to the Post reports that the U.S. House of Representatives voted 321-103 last week in favour of the Secure and Fair Enforcement Banking Act, which would allow banks to do business with legal pot companies. Currently, the industry is forced to conduct many transactions in cash because of its lack of access to the banking system. The bill now faces the hurdle of the Republican-controlled Senate, but most industry analysts believe a version of it will pass by next year. Cadwalader, Wickersham & Taft partner Jodi Avergun says this would do more than allow U.S. pot companies to open accounts at deposit-taking institutions. Ms. Avergun points to Section 3 of the bill, which says transactions conducted by legal cannabis businesses will not be considered proceeds of a crime under money-laundering laws. That will not open every institution to working with the cannabis industry, but it will push many of them in that direction.

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