Cannabis Banking gets Green Light in the House.

September 26, 2019 Business Insight , Regulation

The SAFE Banking act was passed today by the House of Representatives. Cannabis companies operating in legal states now have access to banking services, instead of being forced to remain predominantly cash based businesses, this solving a huge problem of real risk of becoming victims of theft, or worse.
“For the first time ever, a supermajority of the House voted affirmatively to recognize that the legalization and regulation of marijuana is a superior public policy to prohibition and criminalization.” — NORML Political Director Justin Strekal, in a statement

The vote ended at 321 for and 103 against.

This is also the first time the house has voted on cannabis legislation by itsself.

The fact that the bill garnered bipartisan support in such great numbers from House Representatives, as well as support from banking and law enforcement agencies, lends hope for a positive reception when it reaches the Senate floor.

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