The banking reform bill now goes to the US Senate, where passage is less certain. The US House voted 321-103 to pass the SAFE Banking Act on Sept. H.R. 1595 will provide a safe harbor for financial institutions that work with cannabis business clients, effectively opening the door to formal banking relationships in the fragmented, federally illegal cannabis industry. The vote count touched on a rare moment of bipartisan support in Congress. Across the industry, banking reform has been hailed as a vital step forward in the development of legal cannabis businesses.
Source: cannabisbusinesstimes.com
Lightbulb Moment: Great first step for legitimizing the movement that is sweeping state by state. Now let’s wait for the other states to fall – oh look, there goes Illinois! Want to keep up with Cannabis movement? That’s where Culinary Tides, Inc. comes in.