SHF Holdings issues statement on cannabis rescheduling

SHF Holdings issued the following statement by Safe Harbor Financial CEO Sundie Seefried on the Drug Enforcement Administration, DEA, rescheduling cannabis from Schedule I to Schedule III on the Controlled Substances Act, CSA. Safe Harbor Financial CEO Sundie Seefried: “The profound impact of rescheduling cannabis from Schedule I to Schedule III signifies a crucial shift in the perception of cannabis, recognizing its medical potential and solidifying its legitimacy in the financial realm. From a banking and lending perspective, we believe that the reclassification of cannabis will broaden lending opportunities for cannabis businesses, leading to access to lower interest rates, increased access to capital and improved financial stability across the industry…While rescheduling cannabis to Schedule III represents progress, some of these regulatory challenges will necessitate careful navigation of compliance requirements. At Safe Harbor Financial, our expertise in streamlining operations and proficiency in compliance management sets us apart. By consolidating accounts with us, our clients are able to optimize efficiencies in navigating the BSA, which require maintaining rigorous compliance standards, and are crucial to uphold.”