This Bill Could Make Marijuana Legal For The Financial Industry

Banks would be able to do business with marijuana companies. 

Although states have been allowed to legalize marijuana for various uses, the federal government’s prohibitionary stance on the substance has made it next to impossible for businesses associated with the industry to get their hands-on banking services like other productive members of commerce.

However, the situation could change if the latest pot-related bill can find its way through Congress.

On Thursday, Representative Ed Perlmutter announced that he would soon introduce piece of legislation to the U.S. House of Representatives entitled the “Secure and Fair Enforcement Banking Act (SAFE Banking Act), which he says was designed to allow financial institutions to do business with the marijuana industry without catching any heat from federal law enforcement.

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