This week's Institute of Cannabis Research Conference at the Grande Lakes Hotel & Resort in Orlando, Florida was attended by cannabis executives and analysts. One of the hot topics was the Secure and Fair Enforcement (SAFE) Banking Act, which was excluded from a large-scale spending bill.

After the proposal failed to make it into the National Defense Authorization Act (NDAA) earlier in December, the hope was that appropriations would protect banks that work with state-legal cannabis companies.

In their latest note published on Wednesday, Wedbush Securities' analysts Gerald Pascarelli and Antoine Legault shared the main takeaways from a three-day conference.

Challenges That Continue Into 2023: Federal Status, Banking & Pricing

Industry experts like Tim Seymour, portfolio manager of Amplify Seymour Cannabis ETF (ARCA: CNBS) and Dan Muller, founder & CEO of Aeropay's cannabis payments platform shared their views about the direction of cannabis in 2023 with Benzinga's Nina Zdinjak. Wedbush's analysts said cannabis banking reform and marijuana's Schedule I status will mark the year ahead.

"Conversations around SAFE Banking and/or potential rescheduling or de-scheduling of cannabis will likely ebb and flow over the course of 2023," the analysts said, adding it …

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