Banking Regulations Could Take 12 Months to Develop Once SAFE Banking is Passed
Why will it take a long time for banks to get caught up to speed once the SAFE Banking Act is passed in Congress?
In Part #2 of our featured video with Jushi Co. President Erich Mauff, he explains why the cannabis banking system will not look that great in the beginning, and how it will take a year to develop. Mauff shares that banks like JP Morgan will have to do KYC’s on a lot of companies, with the potential of a bunch of them failing. He also believes that with a lot of companies being private, banks will having to do their due diligence which ultimately will be critical for the industry.