SAN FRANCISCO--(BUSINESS WIRE)--The Arcview Group, the leading investment and market research firm focused on connecting investors with opportunities, key players and indispensable insights into the cannabis sector, issued the following statement on the recent passing of the Secure And Fair Enforcement (SAFE) Banking Act by the U.S. House of Representatives. The measure would prevent federal banking regulators from charging bankers with money laundering or other financial crimes for working with cannabis-related businesses and enable businesses in the sector to finally use banks without fear of federal prosecution.
Statement from The Arcview Group CEO Troy Dayton
We are extremely encouraged by the historic cannabis reforms passed by the House. It would be a game changer for this developing industry and we are hopeful that the Senate follows suit. Legal cannabis businesses, which employ more than 165,000 people, would finally be able to operate safely, develop and grow their businesses. This step forward begins to pave the way for legal, regulated cannabis businesses to open up a plethora of opportunities, which were previously unavailable. The measure would also have a profound, positive impact on the investment landscape, patients and consumers. For years, Arcview has been working towards and supporting this moment. We applaud the progress taken by our regulators and industry and look forward to more reforms being fully enacted.
About The Arcview Group
The Arcview Group is the leading investment and market research firm focused on connecting high-net-worth individuals, institutional investors and money managers with the investment opportunities, key players and indispensable insights to realize their goals in the cannabis sector. Founded in 2010 and listed recently by Forbes as one of the top five financial firms in the cannabis industry, investors in the Arcview Investor Network have invested more than $270 million in over 200 companies. Arcview Market Research has published more than 20 market reports, which forecast and analyze the rapidly evolving industry. Arcview co-founded and partnered with Canopy Boulder, the first seed-stage mentor-driven business accelerator that has graduated more than 100 companies. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information, visit arcviewgroup.com.