Lawmakers reintroduce SAFE Banking Act

A few years back, lawmakers introduced the SAFE banking act and failed to come to an agreement on what cannabis legislation would look like. This year, they’re trying again and are already seeing more promise of the bill being passed. The bill has passed the house and is to be discussed in the Senate. The SAFE banking act creates a pathway to federal legalization of cannabis and would allow dispensaries to own bank accounts, meaning they are less prone to robberies, payment processing is simplified, and they have access to business loans and other programs. The possibility of legalization also opens up the possibility of interstate commerce which would greatly accelerate the development of newer cannabis markets and give some of the older markets a place to sell some of their extra green.