NetworkNewsBreaks – LiveWire Ergogenics Inc. (LV
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Posted On: 12/05/2019 4:21:46 PM
NetworkNewsBreaks – LiveWire Ergogenics Inc. (LVVV) Set to Benefit Upon Senate Passing SAFE Banking Act Legislation
LiveWire Ergogenics (OTC: LVVV) is diligently watching the progress of the SAFE Banking Act, which would permit banks and credit unions to offer financial services to legal cannabis businesses once passed by the Senate. A recent article discussing the company reads, “In December 2018 the U.S. Farm Bill was passed, which de-scheduled hemp as a Schedule 1 drug, although the use, sale and possession of cannabis with over 0.3 percent THC remains illegal under Federal law. Despite that reclassification, most financial institutions continue to avoid providing services to businesses operating in the cannabis space. . . . The Secure and Fair Enforcement (SAFE) Banking Act of 2019, HR19-1595, could change that. The bill was passed by the House of Representatives in September and then sent to the Senate, where it was referred to the Committee on Banking, Housing and Urban Affairs. According to the official summary by the Congressional Research Service, the SAFE Banking Act prohibits federal banking regulators from punishing a financial institution for offering financial services to a legal marijuana-related business. . . . Passage of the SAFE Banking Act in the Senate and signing of the bill by the President will open access to broad financial services in the multibillion-dollar marijuana industry (http://nnw.fm/iOl6S) and would clearly give legal and vertically integrated operators such as LiveWire a significant boost.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
LiveWire Ergogenics (OTC: LVVV) is diligently watching the progress of the SAFE Banking Act, which would permit banks and credit unions to offer financial services to legal cannabis businesses once passed by the Senate. A recent article discussing the company reads, “In December 2018 the U.S. Farm Bill was passed, which de-scheduled hemp as a Schedule 1 drug, although the use, sale and possession of cannabis with over 0.3 percent THC remains illegal under Federal law. Despite that reclassification, most financial institutions continue to avoid providing services to businesses operating in the cannabis space. . . . The Secure and Fair Enforcement (SAFE) Banking Act of 2019, HR19-1595, could change that. The bill was passed by the House of Representatives in September and then sent to the Senate, where it was referred to the Committee on Banking, Housing and Urban Affairs. According to the official summary by the Congressional Research Service, the SAFE Banking Act prohibits federal banking regulators from punishing a financial institution for offering financial services to a legal marijuana-related business. . . . Passage of the SAFE Banking Act in the Senate and signing of the bill by the President will open access to broad financial services in the multibillion-dollar marijuana industry (http://nnw.fm/iOl6S) and would clearly give legal and vertically integrated operators such as LiveWire a significant boost.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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