2023 has been yet another year of uncertainty for the cannabis industry, with little progress in terms of legislative clarity or market growth. The sector has been market in a holding pattern in both the US and Canada, unable to make meaningful strides forward as it waits for a breakthrough. It’s been a frustrating year for many in the space, and the hope is that 2024 will bring some long-awaited relief.
In the American market, operators are eagerly awaiting the enactment of policies that would help businesses cope with tough financial realities. The SAFER Banking Act, a bill intended to provide relief to the US cannabis industry by allowing companies to access banks and credit unions, has encountered a roadblock in the form of GOP opposition. While Chuck Schumer has worked tirelessly to drum up bipartisan support, his efforts have so far fallen short.
This legislative purgatory has hindered growth and investment in the cannabis…
