Quarterly Cannabis Report
News April 22, 2021 Quarterly Cannabis Report The 117th Congress is shaping up to be the year for cannabis reform. As of April 2021, 47 states, four U.S. territories and the District of Columbia have legalized medical cannabis, recreational cannabis or both. Many of these efforts can be contributed to Steve Fox, a true pioneer of the legalization movement. Fox, managing partner of VS Strategies, and godfather of the industry, paved the path for nationwide legalization efforts and was instrumental in cannabis reform throughout the country for decades. He was one of the first to politically advocate on behalf of medical and recreational cannabis legalization, advance decriminalization measures and promote reform and social justice. As an educator and leader, Fox will be remembered for his wisdom, knowledge and kindness, and his voice, perspective and presence will be dearly missed. VS Strategies welcome the celebration of Fox’s life through the sharing of thoughts and memories, and asks for respect and privacy for his family, friends and co-workers who are still reeling from this loss. VS Strategies also started a GoFundMe page to support Fox’s wife and daughters as they navigate their way through this extremely difficult time— https://www.gofundme.com/f/support-the-family-of-steve-fox. FEDERAL CANNABIS PROPOSALS The SAFE Banking Act: On March 18, Rep. Ed Perlmutter (D-CO) reintroduced the Secure and Fair Enforcement (SAFE) Banking Act. H.R.1996 that creates a safe harbor for financial institutions to provide traditional banking services to cannabis and cannabis-related businesses in states that have legalized the drug and allows cannabis and cannabis- related businesses to access traditional banking services like lines of credit, loans and wealth management.
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