Indopedia All Things Marijuana
Because the federal government still considers marijuana to be one of the most dangerous illicit substances in the world, it is difficult for businesses operating in the legal pot business to secure baking solutions. However, a group of federal lawmakers hope to change that.
A group of congressmen, including Representatives Ed Perlmutter, Don Young, and Denny Heck, recently announced that they would soon introduce a bill called the “Secure and Fair Enforcement Banking Act” (SAFE Banking Act) to the U.S. House of Representatives aimed at giving financial institutions the freedom to do business with the marijuana industry without having to worry about the threat of federal interference.
“This legislation is an important step to ensuring marijuana businesses across the nation — who continue to operate in a very uncertain and insecure environment without access to banks or financial institutions — can be treaty fairly and as legitimate contributors to state and local economies,” Rep. Young said in a statement. “While I do not personally advocate for the use of marijuana, I do support these types of issues as a matter of states’ rights and the ability to determine…
