September 30, 2019

Take it to the Bank: Marijuana Businesses Are Playing it SAFE

By Megan Penick and Stephen Weiss
High Times

Is this the writing on the wall? In what looks to be the biggest step forward toward the ultimate legalization of marijuana on the federal level, the U.S. House of Representatives just passed the Secure and Fair Enforcement Act, or SAFE Banking Act, a critical step toward clearing the way for cannabis-related businesses to operate outside a cash-only world. Congresspeople voted in favor of the bill 321-103, which, remarkably, included nearly half of the Republicans that cast a vote.

Suffice it to say, this is great news for everyone aboard the “reform our nation’s marijuana laws” train. But the celebration should be kept in check. The legislation now moves on to the Senate, where those in the know suggest that passage appears to be much less likely, at least in its present form.