LAS VEGAS – Senator Jacky Rosen is leading a push in Washington to help cannabis businesses with banking. She is co-sponsoring the Secure and Fair Enforcement (SAFER) Banking Act, which would allow cannabis businesses to access traditional banking services.
Cannabis is now legal for medical or recreational use in most states. However, most banks will not do business with the cannabis industry because marijuana is still illegal on the federal level. This forces cannabis businesses to deal solely in cash, which can make them big targets for criminals.
Senator Rosen says the SAFER Banking Act would help to protect cannabis businesses and their employees from crime. It would also make it easier for these businesses to operate and grow.
“I just want our cannabis businesses to be treated like every other small business,” Senator Rosen said.
The SAFER Banking Act advanced out of the Senate Banking Committee last week and now goes to the Senate floor. Senator Rosen is also planning to introduce a bill that would allow cannabis businesses to access federal small business loans.
This is a positive development for the cannabis industry in Nevada and across the country. The SAFER Banking Act would help to protect cannabis businesses and their employees from crime, and it would make it easier for these businesses to operate and grow.
Credits: Fox 5 Vegas
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