Published 1 year ago

Janet Yellen Says Regulators Seeking Solutions For Marijuana Banking, Sen. Bennet Calls Cannabis More Stable Than Crypto - Ayr Wellness (OTC:AYRWF), Tilray Brands (NASDAQ:TLRY)

Summary by Ground News

At a Senate Finance Committee hearing, Colorado Senator Michael Bennet (D) asked Treasury Secretary Janet Yellen about the ongoing lack of banking and financial services available to the cannabis industry. Bennet referred to cannabis as more stable than cryptocurrency, which contributed to the closing of New York's Signature Bank last Sunday. Under federal law, financial institutions are not allowed to provide their services to marijuana businesses.

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Benzinga

Janet Yellen Says Regulators Seeking Solutions For Marijuana Banking, Sen. Bennet Calls Cannabis More Stable Than Crypto - Ayr Wellness (OTC:AYRWF), Tilray Brands (NASDAQ:TLRY)

At Thursday’s Senate Finance Committee hearing, Colorado Senator Michael Bennet (D) asked Treasury Secretary Janet Yellen about the ongoing lack of banking and financial services available to the cannabis industry. Bennet aptly referred to cannabis as more stable than cryptocurrency, which contributed to the closing of New York’s Signature Bank last Sunday. He noted the contradiction that marijuana is still federally illegal. Yellen responded t…

1 year ago·New York, United States

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