CURLF - Cannabis Banking Reform Sparks Reactions From Advocates Marijuana Retail Giants | Benzinga
After seven tries, Wednesday’s Senate Banking Committee vote to move a cannabis reform bill to the Senate floor marks the first time that Senate members have agreed to consider alleviating the major burden facing the billion-dollar banking cannabis industry: access to banking and financial institutions and all that implies.
The 14-9 vote provides the bill with sufficient bipartisan support to pass through the broader Senate, the main stumbling block for getting this essential piece of regulatory reform over the finish line.
An organization that has been advocating for cannabis legalization for more than 50 years says that it’s quite impossible for any industry to operate safely, transparently or effectively without access to banks or other financial institutions.
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