. Could this finally allow US cannabis businesses to list on the NYSE and Nasdaq?){kind=link}
A bipartisan bill has been reintroduced to the House of Representatives. It would allow cannabis companies to access the capital that they desperately need by listing on the US Stock Exchange.
Capital Lending and Investment for Marijuana Businesses Act would prevent federal agencies penalizing companies for providing essential services to state legal operators including financial products and insurance as well as debt and equity capital.
It comes as the SAFER Banking bill, which many analysts believe would be more consequential for the industry than rescheduling, remains absent from the current Congress, after stalling in the previous legislative session despite passing the Senate Banking Committee in September 2023 with a 14–9 bipartisan vote.
Saphira Galoob said that the US Cannabis Roundtable CEO, Saphira Galoob: “Right away, Canadian cannabis firms can ring the Bell at U.S. stocks markets and gain access to American capital markets, but domestic cannabis companies are locked out from even the basic financial service.
This is not fair. CLIMB Act corrects this problem by guaranteeing that American cannabis companies, workers, investors, and financiers have access to the same financial services, as do their competitors from abroad.
What does the bill contain?
On March 18, 2026, Representatives Guy Reschenthaler(R-PA), and Troy Carter(D-LA), reintroduced (H.R. On March 18, 2026 the bill was reintroduced by Representatives Guy Reschenthaler (R-PA) and Troy Carter (D-LA).
Bill proposes two mechanisms which will be used in conjunction to eliminate the barriers that have been long-advertised to cannabis operators based in US.
Firstly, it states that a federal agency cannot take any ‘adverse action’ against an individual solely because they provide ‘business assistance’ to a cannabis-related legitimate business.
These include basic financial services like banking and lending services, insurance services, debt and equity capital and accounting services.
The services covered would include real estate and equipment as well as testing, consulting and advertising.
This would include the ability to underwrite securities and distribute them publicly, such as through exchange listings.
Another part of the bill amends Section 6 Securities Exchange Act, 1934. This legislation governs national exchanges.
The amendment will remove federal liability which currently prohibits NYSE Nasdaq and other exchanges to list US cannabis companies.
A cannabis-related business listed on an exchange would violate the Controlled Substances Act, and it would become clear that this was illegal.
The protection of the public exchanges would be extended to include the entire supporting infrastructure including brokers, underwriters and clearing agencies as well credit rating agencies and transfer agents.
READ MORE…
CLIMB or SAFER?
CLIMB will undoubtedly be compared with the SAFER Banking Act. However, it is worth exploring their differences and examining whether CLIMB’s passage would render SAFER ineffective.
SAFER Banking Act will prevent federal regulators penalizing banks and credit-unions that simply open accounts or process payments for cannabis business.
The law would not, however, have required banks to handle cannabis clients, and all the compliance requirements that come with it, like the need to report suspicious activity and to track transactions. Legacy financial institutions may still be reluctant to do so.
CLIMB Act will also prevent federal agencies from penalizing anyone providing services to state-legal marijuana businesses, including banks. This opens up public markets, which SAFER did not.
Even if CLIMB passes eventually, SAFER will still be relevant, since it targets the internal regulations that regulate how banks operate.
SAFER is important because it would force the US Financial Crimes Enforcement Network to update their guidance, requiring that banks file reports of suspicious activities on cannabis transactions in 180 days. It also directs regulators to provide clear guidelines for banks servicing cannabis businesses.
Has it a chance to pass?
It’s worth comparing the CLIMB Act to SAFER to see if it will become law.
This bill’s predecessor, SAFE Banking Act passed the House 7 times in 6 years. It never got a Senate vote. It was passed by the Senate Banking Committee unanimously and sat unvoted for 15 months.
CLIMB is entering an even hostile political atmosphere, with only a fraction as many sponsors behind it at the time of its introduction. SAFER had more than twice that number. It has been referred by the House Financial Services Committee to a committee where marijuana reform bills are consistently stalled. The Republican-controlled Senate, where Speaker Johnson has been reported as privately opposing even rescheduling, is again the key hurdle for this ambitious bill.
The House of Representatives has reintroduced legislation by bipartisan legislators to provide cannabis businesses with a path to listing on US stock exchanges, allowing them to gain access to institutional capital.
Capital Lending and Investment for Marijuana Businesses Act, also known as CLIMB, would prohibit federal agencies from punishing companies that provide critical services, such as financial products, insurance and debt and equity capital, to operators who are state-legal.
It comes as the SAFER Banking bill, which many analysts believe would be more consequential for the industry than rescheduling, remains absent from the current Congress, after stalling in the previous legislative session despite passing the Senate Banking Committee in September 2023 with a 14–9 bipartisan vote.
Saphira Galoob said that the US Cannabis Roundtable CEO, Saphira Galoob: “Right away, Canadian cannabis firms can ring the Bell at U.S. stocks markets and gain access to American capital markets, but domestic cannabis businesses have been largely shut out from even the basic financial service.
It’s unfair. This is fixed by the CLIMB Act, which ensures that American cannabis workers and investors will have access to similar financial services and opportunities as their foreign counterparts.
What does the bill contain?
The bill was reintroduced by Representatives Guy Reschenthaler and Troy Carter on March 18, 2026 (H.R. On March 18, 2026 the bill was reintroduced by Representatives Guy Reschenthaler (R-PA) and Troy Carter (D-LA).
Bill proposes two mechanisms which will be used in conjunction to eliminate the barriers that have been long-maligned to cannabis operators based in US.
Firstly, it states that a federal agency cannot take any ‘adverse action’ against an individual solely because they provide ‘business assistance’ to a cannabis-related legitimate business.
These include basic financial services like banking and lending services, insurance services, debt and equity capital and accounting services.
The services covered would include real estate and equipment as well as testing, consulting and advertising.
This would include the ability to underwrite securities and distribute them publicly, such as through exchange listing.
One arm of this bill amends Section 6 of Securities Exchange Act 1934 (the legislation which governs the operation of national exchanges).
The amendment will remove federal liability, which currently prohibits NYSE Nasdaq and other exchanges to list US cannabis companies.
A cannabis-related business listed on an exchange would violate the Controlled Substances Act, and it would become clear that this was illegal.
This protection will also extend to all the supporting infrastructure, including broker-dealers and underwriters as well as clearing agencies, rating agencies and transfer agents. They are currently exposed to the same level of liability.
READ MORE…
CLIMB or SAFER?
It’s inevitable that the CLIMB Act is compared to the SAFER Banking Act. But it’s important to explore the differences between the two and determine if the CLIMB Act would render SAFER obsolete.
SAFER Banking Act will prevent federal regulators penalizing banks and credit-unions for opening or processing payment for cannabis-businesses.
The law would not, however, have required banks to handle cannabis clients, and all the compliance requirements that come with it, like the need to report suspicious activity and to track transactions. Legacy financial institutions may still be reluctant to do so.
CLIMB Act will also prevent federal agencies from penalizing anyone providing services to state-legal marijuana businesses, including banks. This opens up public markets, which SAFER did not.
CLIMB would still not be a moot point if it passes. SAFER is the one that targets rules governing how banks are actually run.
SAFER is important because it would force the US Financial Crimes Enforcement Network to update their guidance, requiring that banks file reports of suspicious activities on cannabis transactions in 180 days. It also directs regulators to provide clear guidelines for banks servicing cannabis businesses.
Has it a chance to pass?
It’s worth comparing the CLIMB Act to SAFER to see if it will become law.
This act’s predecessor, SAFE Banking Act passed through the House seven different times in six years. It never even received a Senate vote. It was passed by the Senate Banking Committee unanimously and sat unvoted for 15 months.
CLIMB is entering an even hostile political atmosphere, with only a fraction as many sponsors behind it at the time of its introduction. SAFER had more than twice that number. It has also been referred the House Financial Services Committee – where cannabis reform legislation is always stuck. The Republican-controlled Senate, where Speaker Johnson has been reported as privately opposing even rescheduling, is again the key hurdle for this ambitious bill.
Cannabis Law Resources in Poland
Discover essential legal information about the cultivation of cannabis, its sale, and regulations governing medical products in Poland. These guides will help you understand the legal requirements, such as certification, licensing, and other compliance issues.
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Polish News Registration and Interests of Cannabis Businesses
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Permissions for Cannabis Sales in Poland
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Authorization for Importing or Manufacturing Medical Products
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Permission for Manufacturing or Importing Medical Products
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Certificate of Good Manufacturing Practices (GMP)
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Registration of Medical Products in Poland