U.S. House of Representatives approves cannabis banking bill

The bill clarifies that proceeds from legitimate cannabis businesses would not be considered illegal and directs federal regulators to craft rules for how they would supervise such banking activity.

Banks have generally been unwilling to do business with companies that sell marijuana or related products, fearing they could run afoul of federal laws.

That has left companies in the marijuana industry with few options, including relying on just a handful of small financial institutions or doing business in cash.

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Cool, thanks for posting. Rec mj recently became legal in my state; a couple of months ago, we were taken aback in the dispensary after I plunked down my credit card and was told that they couldn’t accept it. Especially growing my own, we’ll probably never go in anyway, well, except for our free birthday pre-rolls, hehe.

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Did you read the part about how banks can still be charged with crimes if they allow payment? Lol.

Definitely everything coming together to become a real industry that’s here to stay

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Nope, didn’t see that. I hope it (the final) won’t be ambiguous.

Here is the actual bill…

Haven’t read the whole thing but this seems like a great step in the right direction.

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