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Canada’s cannabis industry could see its first-mover advantage cut short if a piece of legislation that would open the U.S. banking sector to cannabis companies is eventually passed, some industry watchers say.

The Secure and Fair Enforcement (SAFE) Banking Act, which would protect U.S. banks working with cannabis companies from criminal scrutiny by regulators, is due to face a markup in front of the House Financial Services Committee on Tuesday, March 26.

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That process, in which a congressional committee debates and amends proposed legislation before voting on the version of the bill that will be submitted to the House, is one of the final steps in a years-long campaign by marijuana activists to allow cannabis companies to gain full access to financial services — everything from bank accounts, to lines of credit, to credit cards.

The advantage that the Canadians have had is more access to cheap capital. That’s going to change overnight once this bill passes, Mitch Baruchowitz, managing partner at Merida Capital Partners

If that happens, some argue that Canadian cannabis companies will face intense competition from their American counterparts, who would finally have access to major lines of financing, enabling them grow quickly and fully leverage domestic demand for cannabis.