SAFE Banking Act Bill Passed in US House In Time For 420
The day before 420 the US House of Representatives voted on and passed the SAFE Banking Act with a strong bipartisan vote of 321-101 which is the 1st cannabis legislation to be passed by newly formed Congress.
For years state legal cannabis businesses have had troubles in accessing financial services that would allow them to bank like any other legal company. Making many of these companies have to deal in cash creating safety concerns. So this peace of legislation is another big step in the right direction and another big win for cannabis industry.
Next it will move to the Senate for approval approval but timing for this is unclear at the moment. But as of now 7 out 10 Americans believe cannabis should be legalized nationally along with access to Banking. With partisans support some believe the SAFE Banking Act for the cannabis industry should pass during this year.